$1050 Gold and $13.93 Silver: Does This Look Like a Bottom?

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gold bottomWith Gold and Silver Surging Higher on Expectations of the Fed Hiking Rates in December, The Doc and Eric Dubin Break Down All the Action, Discussing: 

  • $1050 Gold  and $13.93 Silver: Does This Look Like a Bottom? 
  • Its On Like Donkey Kong! Gold & Silver Squeezed on Imminent Rate Hike?
  • Its Coming to the United States…
  • Average Greeks Begin to Understand Just How Badly They’ve Been Screwed
  • 2015 Silver Eagle Sets All Time Sale Record at 44.85 Million Coins

The SD Weekly Metals & Markets With The Doc & Eric Dubin is Below:

 

El Capitan 2 oz Ultra High Relief
Secure Ye Booty!

 

 

Source: The brilliant William Banzai7

ZeroHedge coverage of the B.S.-BLS Non-farm Payrolls report deserves praise.  The multiple Tyler Durdens have been drifting a bit towards “neocon” analysis when it comes to their coverage of geopolitics (what’s up with that?).  But they’ve never missed the mark with their dissection of Bureau of Labor Statistics reports.  I need not reinvent the wheel;  visit ZH for the reversal of the spin on Friday’s employment report.

Bottom-line:  the BLS doesn’t count underemployed and “discouraged” workers accurately, they play games with seasonal adjustments, and their survey methodologies are farcical given that – as TrimTabs’ CEO Charles Biderman has pointed out for over a decade – real-time IRS withholding data would make for a simple and accurate baseline data-set upon which accurate reportage of US labor market conditions could be understood.  Sadly, US government statistics are not about informing.  They’re about spin and obfuscation in service of policy objectives.

Nevertheless, even with “official” figures, the big picture dynamics of the US labor market are not easily memory-holed.  For example, consider the 2015 ratio of piss-poor paying service sector job growth versus manufacturing jobs:

waiter bartender 2015_0

Source:  ZeroHedge

Cartel Starting To Flush Hedge Fund Shorts?

Doc and I talk about how lopsided the paper precious metals trade has become.  If historical patterns repeat, we’re about to see the cartel fleece speculators that have been lead into some of the most extreme shorting we’ve seen in a while – and Friday’s pop could very well be the start.  The bullion banks serving the cartel interests manage their positions, in part, by leading around speculator sheep, and the sheep never seem to learn.

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Silver

Precious metals popped higher on Friday.  This was partly a front-running move of the “buying on the news” of a potential rate hike, and Doc has correctly made the point that we’d likely see something like this when and if the Fed actually raises rates.  Friday’s move was also a delayed reaction to Thursday’s dollar dive, although there’s more to that story given market reaction to Mario Draghi’s somewhat “disappointing” failure to deliver another ECB rate cut and an expansion of QE – not just a duration extension.  Thursday’s trading was a bit counter-intuitive unless one takes into context the last 30 some-odd days of market expectations being set for a more accommodative ECB.  Tune into the podcast for further explanation.

Food For Thought;  Worthy Weekend Links

Thanks for checking out this week’s show — Eric Dubin, Managing Editor, The News Doctors
 

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