Cartel Can’t Smash Gold & Silver For 2nd Day As Employment Rises 638,000 In October, Unemployment Rate Plunges To 6.9%?

Of course, if this week has taught unaware people anything, it is that perhaps actions taken by the US Federal government can’t be trusted?

(by Half Dollar) The BLS Employment Situation Report has just been released for the month of October, 2020.

According to the BLS:

  • TotalĀ employment rose by: 638,000
  • Unemployment rate fell to: 6.9%
  • Average hourly earnings rose by $0.04
  • Labor force participation rate decreased to: 61.7%

Everything is awesome!

Employment is up, the unemployment rate fell by a whole point, hourly earnings are up, and more people are participating in the labor force!

Some MSM propaganda, via Bloomberg (bold added for emphasis and commentary):

The U.S. labor market improved in October by more than forecast, defying expectations for more subdued gains amid an intensifying pandemic and lack of additional fiscal relief.

Nonfarm payrolls increased by 638,000 after an upwardly revised 672,000 gain the prior month, according to a Labor Department report Friday. That compared with the 580,000 median estimate of economists surveyed by Bloomberg, and reflected a decline of 147,000 in temporary Census workers.

The unemployment rate fell to 6.9% from 7.9%, a bigger decline than economists projected.

That sure is some rosy coverage!

Gold & silver shrugged the minute the report hit the tape:

Which is exactly what gold & silver did yesterday after the Fed’s FOMC!

It sure does look like the cartel can’t really smash gold & silver all that much right now, doesn’t it?