Nothing Really Matters, Anyone Can See

88
Fri, Nov 3, 2017 - 10:53am

The US labor force is rapidly shrinking. Wage growth is non-existent. The vast majority of the American people have no savings and little hope for economic improvement. But none of that matters with the G-3 central banks in charge!

So today saw the latest installment of the BLSBS. If you check your "mainstream" sources, you;ll be led to believe that everything is great and getting even better!

But look under the hood and you see that this is all bullshit. The unemployment rate that Drudge blares on behalf of Trump is only at its "lowest since 2000" because October saw an astonishing 968,000 people leave the labor force. This leaves the total number of people NOT in the labor force at a record 95,385,000. Then, as ZH notes, "this took place as the number of employed Americans declined by 484,000, however since the unemployment rate denominator dropped more, it translated into an actual decline in the unemployment rate!" Read all about it here: https://www.zerohedge.com/news/2017-11-03/people-not-labor-force-soar-re...

Secondly, about this notion of "hiring bouncing back" and the "economy rebounds". Do you recall this very prescient chart from Morgan Stanley? Well, the two hurricanes messed up the math BUT, since this BLSBS is all about "catch up", let's take another look:

If this chart had continued to be accurate (no hurricanes), the combined total of "new jobs" for September and October would have been 345,000. And what was the actual total? September was revised today to +18,000 and this latest report had October at 261,000. That's a total of 279,000. Hmmmm. How about that for your "rebounding" economy and job market?!?

And the wage growth component was terrible, too, with wages FLAT month-over-month and coming in at a growth of just 2.4% year-over-year. This includes all of the high-end, top-salary types so can you imagine what the actual wage growth is for the vast majority of Americans who actually do all the living, working and dying? Try close to ZERO!

But, of course, here's the thing. When the G-3 central banks attempt to control everything, none of this matters at all. In typical G-3 fashion, the all-important USDJPY sank on the news, it immediately double-bottomed and then moved higher at 45 degrees until it was right back to where it was at 8:29 EDT.

And as I type, nothing has changed in the time since. The USDJPY has continued to creep higher and I have a last of 114.10. CDG had nearly hit 80 but it's back to 76 and CDS is now down 4¢ at .10.

So, in the end what happens? As per usual, average and everyday Americans continue to get squeezed as they work multiple jobs attempting to feed their families and pay their taxes. The filthy rich and Wall Street bankers line their pockets with ill gotten profits derived from the endless creation of fiat cash by the central bankers.

Oh, and don't forget that you're now repeatedly told about how "the Fed is tightening" and how this "makes the dollar stronger". Yes, the dollar appears stronger but that only because other fiat is weakening even faster. Don't believe me? Well check The Fed's own charts! M1 and M2 money supply are both at all-time highs!!

And here's a fun, little "anomaly" for you. Below is the same M2 money supply chart but I've added the price of Comex gold. The scales are off and this makes the chart a bit difficult to read. However, you can plainly see that, beginning in the fall of 2011, something changed. After tracking money supply growth pretty closely since 2002, there seems to be a bit of a disconnect. Gee, I wonder why and how?

But, whatever. It is what it is and as long as The Criminal Bankers remain in charge, not much is going to change.

To that end, look at what has happened to CDG and CDS while I've been typing! Though the USDJPY is still 114.10, suddenly prices are getting smashed lower. And why not? Again, when The Bankers control everything, they can pretty much do whatever they want.

So we'll have to see where we finish the day. It certainly appears that this onslaught has been designed to take out the 200-day MA on a closing basis. For today, that level is $1268.40 so watch it closely.

TF

www.tfmetalsreport.com/subscribe

About the Author

Founder
tfmetalsreport [at] gmail [dot] com ()

  88 Comments

  Refresh
Markedtofuture
Nov 3, 2017 - 10:38pm

"Hopelessly Compromised": Judiciary Member Calls For Mueller's..

Resignation Over Uranium One Scandal

by Tyler Durden

Nov 3, 2017 5:40 PM

Earlier this morning House Judiciary Committee representative Matt Gaetz (R-FL) submitted a resolution calling for Robert Mueller to resign as special counsel overseeing the FBI investigation of possible collusion between the Trump campaign and the Russian government saying, among other things, that the former FBI director is "hopelessly compromised" as a result of his failed oversight of the controversial Uranium One transaction. Here is an excerpt from a press release posted to Gaetz's website earlier today:

“Evidence has emerged that the FBI withheld information from Congress and from the American people about Russian corruption of American uranium companies. A confidential U.S. witness, working in the Russian nuclear industry, revealed that Russia had deeply compromised an American uranium trucking firm through bribery and financial kickbacks.

Although federal agents possessed this information in 2010, the Department of Justice continued investigating this “matter” for over four years. The FBI, led at the time by Robert Mueller, required the confidential witness to sign a non-disclosure agreement. When the witness attempted to contact Congress and federal courts about the bribery and corruption he saw, he was threatened with legal action. By silencing him, Obama’s Justice Department and Mueller’s FBI knowingly kept Congress in the dark about Russia’s significant and illegal involvement with American uranium companies.

These deeply troubling events took place when Mr. Mueller was the Director of the FBI. As such, his impartiality is hopelessly compromised. He must step down immediately,” Rep. Gaetz said in a statement.

Gaetz’s resolution currently has two cosponsors, both of whom are members of the House Freedom Caucus: Representatives Andy Biggs (R-AZ) and Louie Gohmert (R-TX).

https://www.zerohedge.com/news/2017-11-03/hopelessly-compromised-judiciary-member-calls-muellers-resignation-over-uranium-one-

human organism...ex-canary
Nov 3, 2017 - 9:14pm

@Bohemian...

How quickly I forgot...Buying WSJ (available in few hotels frequented by foreigners) would be out of my mind, getting me broke within days....There were selected places one could read them, campus libraries for example.

And here is the funny part...Thefirst WSJ I bought was in Istanbul, on Bosphorus ferry ...It was a hot sunny day, and I had just enough money to buy a lemonade or pepsi...(I was always broke)...but I spent them on Wall Street Journal...to study English. I quickly realized that it was like a black magic,completely over my head........Looking back... I should buy the Turkish lemonade instead.

  Image cannot be displayed

lakedweller2
Nov 3, 2017 - 7:40pm

@wizdum

I think I'll order a pizza.

Wizdum
Nov 3, 2017 - 7:24pm

Taking your parents to dinner in 2017 (incl. Tip & Tax):

Taking your parents to dinner in 2017 (incl. Tip & Tax):

2.69389169311211 grams Gold
6.532066508313539 ounce troy Silver
0.01531178269518 Bitcoin
1.959736326385177 Litecoin
0.3589141216392587 Ethereum
110 USD
12547.42 Japanese Yen
110.08 Swiss Franc
94.77 Euro
84.12 British Pound
730.16 Chinese Yuan
1.974865350089767 Barrels WTI Crude Oil

waxybillduppJQuest
Nov 3, 2017 - 6:32pm

JQuest/Tracy Beanz ...

Doing any verification of this is well above my paygrade, but it seems we won't have to wait long to know if it is valid info or bullpoop. WOW!

Covfefe (winter is coming)

matt_
Nov 3, 2017 - 5:13pm

Updated GDX weekly: spring is still coiled

Until it breaks below the lower blue line, it looks like a BUY to me. We could see a turn very soon. Of course, my prediction is based upon technical analysis only, and it ignores the possibility that gold may be smashed lower at any time for no reason at all.

Bohemianhuman organism...ex-canary
Nov 3, 2017 - 4:47pm

@canary

RE: WSJ

"Edit..Of course, it wasn't available in popular kiosks there."

Good point, leaving the political aspect aside. ;-))) BTW, what would be the price of one WSJ issue in a kiosk -- let's say -- on the Prospect of Kalinina, currently the New Arbat in Moscow? Considering the average salaries at various communist countries and the prices in general, one WSJ issue would be more expensive than the rent of an apartment, per day. If I am not mistaken, the average prices per newspapers in the US, in 70's, were around 20-30 cents per issue.

Ronnie 666
Nov 3, 2017 - 4:46pm

Platinum COT favourable again

Again this week the Pt COT is good as banks go long and cut their shorts and specs go net short - this is happening every week, week after week the time is coming for a big move in Pt. Just my opinion.

https://www.tradingster.com/cot/legacy-futures/076651

Open interest is about 4 million oz. Probably 80% of annual production

Visit the FAQ page to learn how to track your last read comment, add images, embed videos, tweets, and animated gifs, and more.

TF Metals fan
Nov 3, 2017 - 4:46pm

Thanks Canary!

Very clear overviews of the past weeks. But I feel we are going nowhere. All this price surpression and no improvements on the COT (nothing substantial). Are we heading for more concerns? Time will tell.

JQuest
Nov 3, 2017 - 4:39pm

Tracy Beanz

Different !

/POL/- Q Clearance Anon - Is it #happening???

Subscribe or login to read all comments.

Become member and subscribe to Turd's Vault

Contribute

Donate Shop

Get Your Subscriber Benefits

Private iTunes feed for all TF Metals Report podcasts, and access to Vault member forum discussions!

Key Economic Events Week of 3/1

3/1 9:45 ET Markit Manu PMI
3/2 10:00 ET ISM Manu PMI
3/2 1:00 ET Goon Brainard
3/3 9:45 ET Markit Service PMI
3/3 10:00 ET ISM Service PMI
3/3 12:00 ET Goon Bostic
3/3 2:00 ET Goon Evans
3/4 8:30 ET Unit Labor Costs
3/4 10:00 ET Factory Orders
3/4 12:00 ET Chief Goon Powell
3/5 8:30 ET BLSBS

Key Economic Events Week of 2/22

2/22 10:00 ET LEIII
2/23 9:00 ET Case-Shiller home prices
2/23 10:00 ET CGP at US Senate
2/24 10:00 ET CGP at US House
2/24 1:00 ET Goon Chlamydia speech
2/25 8:30 ET Jobless claims
2/25 8:30 ET Durable goods
2/25 10:30 ET Goon Bullard
2/26 8:30 ET Pers Inc and Spending
2/26 8:30 ET Core inflation
2/26 9:45 ET Chicago PMI
2/26 10:00 ET UMich sentiment

Key Economic Events Week of 2/15

2/17 8:30 ET Retail Sales
2/17 8:30 ET PPI
2/17 9:15 ET Cap Ute and Ind Prod
2/17 10:00 ET Business Inventories
2/17 2:00 ET January FOMC minutes
2/18 8:30 ET Initial jobless claims
2/18 8:30 ET Import price index
2/18 8:30 ET Philly Fed
2/19 9:45 ET Markit Feb flash PMIs

Key Economic Events Week of 2/8

2/8 12:00 ET Goon Mester speech
2/9 10:00 ET JOLTS job openings
2/10 8:30 ET CPI
2/10 10:00 ET Wholesale Inventories
2/10 2:00 ET Chief Goon Powell speech
2/11 8:30 ET Initial jobless claims
2/12 10:00 ET Consumer sentiment

Key Economic Events Week of 2/1

2/1 9:45 ET Markit Manu PMI
2/1 10:00 ET ISM Manu PMI
2/3 8:15 ET ADP employment report
2/3 9:45 ET Markit service PMI
2/3 10:00 ET ISM service PMI
2/4 8:30 ET Productivity & Unit Labor Costs
2/4 10:00 ET Factory orders
2/5 8:30 ET BLSBS

Key Economic Events Week of 1/25

1/26 10:00 ET Consumer Confidence
1/26 1:30 ET Comex option expiration
1/27 8:30 ET Durable Goods
1/27 2:00 ET FOMC Fedlines
1/27 2:30 ET Chief Goon Powell presser
1/28 8:30 ET Q4 GDP first guess
1/29 8:30 ET Personal Income and Spending
1/29 9:45 ET Chicago PMI

Key Economic Events Week of 1/18

1/19 10:00 ET Mother for SecTreas hearing
1/20 12:00 ET POTUS Inauguration
1/21 ECB meeting and rate decision
1/21 8:30 ET Housing Starts
1/21 8:30 ET Philly Fed
1/22 9:45 ET Markit flash PMIs (Jan)

Key Economic Events Week of 1/11

1/11 12:00 ET Goon Bostic speech
1/12 10:00 ET JOLTS job openings
1/13 8:30 ET CPI
1/13 1:00 ET Goon Brainard speech
1/13 2:00 ET Beige Book
1/14 8:30 ET Import price index
1/14 12:30 ET Chief Goon Powell
1/15 8:30 ET Retail Sales
1/15 8:30 ET PPI
1/15 9:15 ET Cap Ute and Ind Prod
1/15 10:00 ET Business Inventories

Key Economic Events Week of 1/4

1/4 9:45 ET Markit manu PMI
1/4 10:00 ET Construction Spending
1/5 Georgia U.S. Senate election
1/5 10:00 ET ISM manu PMI
1/6 US election certification
1/6 8:15 ET ADP Employment Report
1/6 9:45 ET Markit service PMI
1/6 10:00 ET Factory Orders
1/6 2:00 ET December FOMC minutes
1/7 8:30 ET Trade Deficit
1/7 10:00 ET ISM service PMI
1/8 8:30 ET BLSBS
1/8 8:30 ET Wholesale Inventories

Key Economic Events Week of 12/21

12/21 8:30 ET Chicago Fed
12/22 8:30 ET Q3 GDP final guess
12/22 10:00 ET Consumer Confidence
12/23 8:30 ET Durable Goods
12/23 8:30 ET Personal Inc and Spending
12/23 8:30 ET Core Inflation

Recent Comments

Forum Discussion

by Solsson, 10 hours 12 min ago
by UncleFester, Mar 1, 2021 - 2:01pm
by Pete, Feb 28, 2021 - 5:17pm
by Solsson, Feb 28, 2021 - 10:58am
by argentus maximus, Feb 28, 2021 - 8:22am