+390% ↑ in Au?

Good morning and welcome to another Magnificent Monday! Happy Thanksgiving to our Canadian readers! And Columbus Day to our banks! And Happy Birthday to Mom. My mom would have been 93 on Saturday. Santana greets me this morning with their 1970 hit, “Black Magic Woman.”

Last weeks blogging was lots of fun, although it was also frustrating too. I mean, who wants to acknowledge that their field of interest is actually owned lock stock and barrel by the banks? And the reality of it is that when I read the gold forecasts of Peter Schiff, Jim Sinclair, Eric Sprott, Jim Rickard, and many others, I want to scream! These folks are considered the industry guru’s. The go-to people when investing in precious metals. And they all say that gold will be above $5,000 an ounce by December 2017! Is it possible? How can they say that? In looking at the market, and the information we looked at last week, do you honestly believe that the banks could possibly lose their grip on the economy? Seriously, their breadth is so wide and power so complete that they have been deemed “too big to fail.”

Bill Bonner wrote an interesting piece last Friday that I want to share in full. This could be why everyone is talking $5,000 gold. Here’s his article: “No Way Out of This Black Hole of Debt.”

But we will continue to watch the markets and report what we see. The market closed up last Friday across the board, with the exception of palladium. Gold closed up $8.30 to $1,276.10. Silver was up $0.23 to $16.81 and platinum was up $1.00 to $914.00. The markets are up again this morning. Gold is up $3.70 to $1,279.80 and silver is up $0.06 to $16.87.

Here’s some very interesting news brought to us from the U.S. Federal Government… Last Friday, the BLS (Bureau of Labor Statistics) released their latest report showing a decline of 33,000 jobs in September, and of course the hurricanes were quickly blamed. But what’s this? The BLS decided to show an increase in the Avg. Hourly Earnings. Of course, this is what the Fed has been waiting for, and would be a great cornerstone in building the next rate hike. I did a double and then triple take of that information and I hope you do too. I mean, that is suspicious.

· Goods-Producing Weekly Earnings declined -0.8% from $1,118.68 to $1,109.92

· Private Service-Providing Weekly Earnings declined -0.1% from $868.80 to $868.18

· And yet, Total Private Hourly Earnings rose 0.2% from $907.82 to $909.19

Suspicious hell! It’s impossible! You can’t have Goods-Producing Weekly Earnings and Private Service-Providing Weekly Earnings both decline and show an increase in the Avg. Hourly Earnings. Even using new-math, it just doesn’t add up. But then, why would most people study anything other than the current month?

Patience grasshopper, Truth comes to those with patience…

Well, I’ll let that be it for today. Go out there and make a difference! See ya’ll later!

*Disclaimer: Precious Metal Musings™ is written for entertainment and news purposes only and should not be used in making purchases and/or sales of precious metals.