It's Bloomberg, Jake!

It's Bloomberg, Jake. What do you expect?

As The Daily Bell, a libertarian site, astutely and correctly points out, the fiat money ship has sprung a huge leak. A spreading lack of confidence in this confetti-drenched world brings out the scaremongers to pillory gold. The green door has been jarred wide open. Central bankers are to be trusted about as far as one can throw them.

Gold Losing Appeal for Investors Retreating From Rally … ‘People don’t believe in the gold rally,’ Holmes says. Investors are growing more skeptical of gold’s lasting luster. Hedge funds and other speculators cut their wagers on a bullion rally for the fourth time in five weeks. As traders tire, the metal’s 30-day historical volatility has dropped to the lowest since November. Open interest is also on the decline. – Bloomberg

Here comes Bloomberg telling us gold (and silver) are moving down.

That’s the implication anyway. Bloomberg rarely has something good to say about precious metals. The news service represents and endorses a technocratic version of the world.

Bloomberg’s vision is one of a world run by vast corporate interests and controlled by an elite group of bankers. These individuals manipulate money and commerce as they wish. Gold and silver only interfere with their control. thedailybell.com/news-analysis/bloomberg-article-bashing-gold-based-on-phony-jobs-report-2
  
Mark Twain once noted: there are lies, damn lies and then there is statistics. Pointing to a story by former Congressman Ron Paul, a libertarian, recently wrote about the phony recent job numbers, here's an excerpt:  A bombshell jobs report [has just been released], with headlines exclaiming that the US economy added over 250,000 jobs in July, far in excess of any forecasts.

The reality was far more grim. Those “jobs” weren’t actually created by businesses – they were created by the statisticians who compiled the numbers, through the process of “seasonal adjustment.”That’s a bit of statistical magic that the government likes to pull out of its hat when the real data isn’t very flattering.

It’s done with GDP, it’s done with job numbers, and similar manipulation is done with government inflation figures to keep them lower than actual price increases.

Those magically revised statistics Paul refers to get revised more often than a noted congresswoman's face. If they were a cosmetic product she's be fronting for it. We differ with the Bell on one point: It isn't disconcerting that Bloomberg doesn’t mention this in the article. "It’s an important point and the reader should be informed that the numbers Bloomberg is quoting are government extrapolations," they write.

It's not disconcerting. It's expected. Know who you're dealing with is the first rule. 

There's an old saying: Don't judge, assess. It's one MSM has long intentionally forgotten.