Gold investors see real US employment figures

Gold rallied strongly Friday night, the same night the US released with joy its official employment figures showing 288,000 new jobs for April and a drop in unemployment from 6.7% to 6.3%.  So why did gold rise?  Scratch the surface and the details show that the rate dropped courtesy of over 800,000 people leaving the workforce (i.e. gave up) creating the lowest labour force participation rate since March 1978.  To be clear 3 times as many people left the labour force than joined it yet it was sold as showing how strong the economy is.  ShadowStats.com work out the unemployment rate with the same official method used prior to 1994 and come up with over 23% unemployment in the US.  We posted last week that 20% of US families have not one member of the family employed and 1 in 6 Americans are on foodstamps.  The gold price has taken a battering on the supposed US economic recovery.  It’s not real and furthermore when the next crash comes, and it will, the carnage will be far worse off this low base.  Just watch gold and silver go then…