The official lies about the economy keep mounting. The Dallas Fed reports that its regional economic activity metric surged in early September, despite the complete shut-down of Houston for a few days during the “measurement” period. The “general activity” index spiked up to a 7-month high. Clearly the quality of this report is suspect, to say the least.
Contrary to this report, the Chicago Fed’s National Activity Index plunged to -0.31. It was the weakest reading since last August and a huge plunged from the July reading of 0.03. The Street was expecting 0.11. Because of the nature of this index (85 sub-components measured at the national level) it takes a lot to “move the needle” for this metric. A negative point-three-one reading implies that the national economy broadly contracted during August.
Clearly the Dallas Fed propaganda was intended to reinforce the Fed’s empty threat to raise interest rates and “normalize” its balance sheet . Silver Doctors invited me onto their Friday weekly market podcast to discuss the latest propaganda that spewed forth from the Fed’s FOMC meeting earlier in the week, the western Central Banks’ losing battle to push the price of gold lower and the continuing deterioration in the U.S. political and economic system:
The precious metals is in the early stages of another bull market run, like the one that occurred from 2001-2011. This one is being driven by the China-led movement to remove the dollar as the world’s reserve currency and replace with a currency that will incorporate incorporating gold back into the monetary system. The Mining Stock Journal is a bi-weekly newsletter that will help you get invested ahead of the next huge capital flow into the precious metals sector. To find more, click here: Mining Stock Journal
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