To the surprise of virtually no one, the Corporate Media is now telling us what precious metals commentators like myself have guaranteed for many months: much, much more money-printing is about to begin. This admission comes despite more gigantic, recent lies (in both U.S. and Europe) intending to deceive us into believing that more money-printing could be delayed.

In the U.S. we have seen back-to-back radically fraudulent jobs reports. In last month’s jobs-report the Bureau of Labor Statistics admitted it added somewhere around 200,000 phony jobs to last month’s report for supposed “lay-offs” in the auto sector which never took place. Then it fabricated another 50,000+ jobs with its absurd “birth/death model”. And these are just two of the BLS’s lying-with-numbers techniques.

This month the BLS was required to subtract those 200,000 jobs it added last month without any justification. However, since doing so would have made this month’s jobs number especially horrible (i.e. a large negative number); it simply refused to subtract-out the imaginary jobs. It then added 87,000 (phony) birth/death jobs into this month’s report too – equal to the entire (supposed) “job gain” for the month of August.

Then the propaganda machine boasted about how the “unemployment rate” had declined signficantly last month. How can the unemployment rate decline when the U.S. economy is actually losing large numbers of jobs? Because 10’s of thousands of discouraged unemployed finally gave up looking for work – at which point our enlightened governments tell us that this means they are no longer “unemployed.” The percentage of the U.S. population which is currently employed is at a 30-year low.

They were feeble lies, but then the propaganda machine has nothing to work with. The U.S. economy is collapsing.

Over in Europe, I’ve already covered the Big Lie which the Corporate Media tried to shovel into us: the ECB was going to buy “unlimited” quantities of bonds, but it was going to do so without printing money – by supposedly “sterilizing” the purchases. I then explained to readers how “sterlizing” could only mean one of two things, and both were mathematically impossible.

Not surprisingly, that lie didn’t “fly” either. So when ECB talking-head Mario Draghi committed himself last week to massive new bond purchases (to temporarily prop-up the Ponzi-schemes a little longer); even the Sheep understood that he was announcing that lots, lots more paper-printing by the ECB was on the way.

Similarly, in the U.S. no one was swalliowing any of the “good news” from the jobs reports of the past two months; and so just as in Europe, even the Sheep have concluded that B.S. Bernanke is warming-up his printing press.

As I’ve explained to readers on previous occasions, one of the “specialties” of all propaganda machines is Revisionism – rewriting history. This is part of the Golden Rule of all propaganda machines: control the “message”. As long as you control the message, this ensures that the Sheep continue to listen to you.

Thus when the propagandists attempt lies, and those lies fail; then they instantly produce a new version of “the truth.” What was “good news” yesterday (the lie that failed) becomes “bad news” today – retroactively reporting “news” which in fact is actually a reflection of the reaction of the people to the lies of the propagandists. And thus we get this new headline from Bloomberg:

 

Euro Rises Most in 6 Months on ECB Plan; Payrolls Weaken Dollar


What we see is the propaganda machine doing two things. Admitting the truth it can no longer deny, but spinning that truth into new lies.

The Euro didn’t “rise” Friday, the dollar plummeted. Previously the Sheep had bought the absurd fiction that only Europe was going to be forced into more money-printing (and so the U.S. dollar was bid up to totally absurd levels). As soon as the clueless Sheep understood that the U.S.’s printing press would be running just as white-hot as the one in Europe, everyone dumped dollars.

This is clearly reflected in a quote from the Bloomberg article itself:

 

said Richard Franulovich, a senior currency strategist at Westpac Banking Corp. in New York[,] “The Fed and ECB are saying they’re underwriting money risk [translation: printing money], so there’s no point in sitting on cash. Sell the dollar, buy risk.” [emphasis mine]

 

Nowhere do we see this currency strategist saying “buy the Euro”, which is what he would be said if that (worthless) paper was really “rising”. Instead, the only reason why some of these gamblers are now once again holding any euros at all is that they expect the U.S. Lead Zeppelin to be falling faster than Europe’s own version of paper-scam…over the short term.

Looking closely here, we can see both the (real) Truth, and the new lie which has been concocted by the Revisionists. The truth is that all knowledgeable investors are now dumping paper for hard assets – with vast amounts of new money-printing now telegraphed to the market.

The New Lie is that the Chumps now should (temporarily) swap their dollars for euros. And then a few months later, when it’s the euros turn to start falling faster again; the Chumps will then be instructed to swap their euros back for dollars. The one thing which the Chumps should never, ever do (according to the propagandists) is to simply rid themselves of all their paper.

Because as soon as the Chumps refuse to hold the bankers’ paper (by holding precious metals); not only is it impossible for the bankers to continue to steal from them (us), but all of the bankers’ fraudulent, paper Ponzi-schemes will come crashing down…and that is why it’s so important to Control the Message.

P.S. For all Canadian readers, we can expect Bank of Canada Governor Mark Carney to mirror U.S./European money-printing with more of his own. A failure to do so would result in the Loonie rising dramatically – revealing how fast the USD and euro were plummeting. And we can’t have that now, can we?

 

Euro Rises Most in 6 Months on ECB Plan; Payrolls Weaken Dollar

http://www.bloomberg.com/news/2012-09-08/euro-rises-most-in-6-months-on-ecb-plan-payrolls-weaken-dollar.html

The euro posted its biggest advance in six months versus the dollar after European Central Bank President Mario Draghi pledged to buy bonds to contain the region’s debt crisis.

The dollar weakened versus all 16 of the its most-traded counterparts after a Labor Department report showing payrolls rose less than forecast added to speculation the Federal Reserve will undertake a third round of bond buying…

Posted in News By

Jeff Nielson