The latest labor report shows deeper than expected job losses in January, which will encourage larger stimulus measures… which we all know is only beneficial for precious metals.
U.S. labor department report is indicating that the number of new jobs gained January came in at 49,000, and unemployment rate fell from 6.7% down to 6.3%. Despite the decline on actual numbers, Jerome Powell said “the real unemployment rate is most likely higher and is probably closer to 10%. But the real economic damages don’t lay in the unemployment changes, they lay in the democrats larger stimulus plan.
President Joe Biden and his democratic partners in congress forged ahead with their $1.9 trillion Covid-19 relief package on Friday, as lawmakers approved a budget that will allow them to push Biden’s plan through the coming weeks without any Republican support.
Nancy Pelosi speaker of the US House of Representatives predicted that the Covid-19 relief legislation could pass congress before March 15, when special unemployment benefits that were added during the pandemic become expired. Republicans have suggested a $600 billion aid package, less than a third the size of the Democratic relief plan.
As we all know the more they print the worse it gets for the dollar, in 08 they managed to print up $700 billion in aid money… this time around it’s up to $8 trillion in aid money. Each time the we run into economic turbulence we need more and more printing to artificially stabilize the economy, which isn’t sustainable. This is the fastest route to the destruction of a currency. The idea of creating currency tied to debt days are numbered. It’s very clear that we are in the midst of the collapse as precious metals prices are near all time highs, as the collapse continues these valuations will continue to soar! There’s tons of opportunities here for us to position ourselves accordingly to protect ourselves against this legalized crime.