“The question that nobody ever thinks about is ‘why is a reserve currency necessary and why would China want to be it?’ I think the future is likely to be no reserve currency” – Dr. Paul Craig Roberts, Shadow of Truth
The Government’s employment report released on Friday, March 6 was quite possibly the most absurd economic report on record. With all of the oil industry and retail industry layoffs that have been occurring since the end of 2014, how is it at all possible that these two sectors of the economy were the the primary foundation for what the Government reports as 295,000 jobs created in February and a 5.5% unemployment rate? It’s not possible. In fact it’s absurd that the Government had the fortitude to release a report like that:
“I wonder if these guys are laughing when they put these numbers together before they release them” – Dave Kranzler, Shadow of Truth
The Fed has been threatening to raise interest rates ever since Bernanke’s infamous “taper” speech in May 2013. And yet, despite the incessant and repetitive “good cop/bad cop” routine with regard to “should we/shouldn’t we” raise rates, the FOMC’s zero interest rate policy remains as stalwart as the Great Pyramid of Giza. Part of this routine involves the Fed narrative that the economy and job market is improving.
With that in mind, yesterday’s employment report – prima facie – should be enough evidence of a “booming economy” for the Fed to begin raising rates. But if this is the case, why wait until the June meeting as stated by the “bad cop” narrative? Why not raise rates in two weeks at the March FOMC meeting? It’s because the Fed can not and will not raise rates (unless it wants to collapse the financial system).
In connection with this incessant fraud and market manipulation – i.e. global financial terrorism – being conducted by the U.S. Government and the Federal Reserve, China and Russia have been openly and vocally implementing a shift in the global monetary system. One of the steps in this direction is China’s announcement of establishing a yuan-denominated gold price fix mechanism in Shanghai.
For the official launch of our “Shadow Of Truth” project, Rory Hall (The Daily Coin) and I have produced a phenomenal interview with Dr. Paul Craig Roberts which discusses the fraudulent employment report and global monetary reform. The conversation we present is completely derived from the discussion we had with Dr. Roberts in preparation for the formal recording session. It’s unrehearsed and unscripted. It captures the essence of Dr. Roberts’ brilliant analysis and thought process in an extemporaneous format.
We cover the completely fraudulent Government employment report, China’s planned yuan-denominated gold fixing and the next global reserve currency. Presented below is Shadow of Truth’s Part 1 of an incredible two-part ad-lib conversation with Dr. Roberts: