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I thought I had seen it all until today.  However, in TPTB’s relentless pursuit of preventing the inevitable economic collapse, they have gone ALL OUT to lie to – and steal from – the American public.

Despite overnight news of European loans plunging at a RECORD pace – per the horrific chart below – PMs were attacked just after the 2:15 AM EST open of the London “pre-market” session for the 84th time in the past 93 days…

Chart 2 Lending volumes

Just after the COMEX open, with gold and silver having recouped essentially all of the said losses – the final 2Q GDP estimate came in well below expectations; and would have been still lower if the BEA hadn’t comically reduced the quarterly inflation “deflator” from 0.7% to 0.6%.  However, not to be outdone by such miserable data, the BLS published “better than expected” jobless claims – that make not the slightest bit of sense.

For the past two weeks, we have been told that low jobless claims readings were published because California and Nevada were updating their computer systems – and thus, hadn’t submitted data.  And now we’re told those low readings were not reversed at all despite California and Nevada reporting in.  And thus, despite the fact that continuing claims surged, jobless claims supposedly plunged.  Huh?  And this, just two weeks after a MISERABLE July/August NFP employment report.  Frankly, I doubt we were told the whole story; but then again, are we EVER?

Of course, gold and silver were immediately attacked; according to the MSM, “due to” the jobless claims data (please ignore the U.S. GDP and European loan data).  They then recovered essentially all their losses again – and briefly went positive after the “pending home sales index” unexpectedly plunged nearly 2%.  Clearly, rising interest rates are killing the supposed housing “recovery”; and thus, such a reading only solidifies the case for no QE “tapering.”  FYI, neither stocks nor bonds even budged on the data; just PMs, which somehow find a way to “react” violently to any and all government data, no matter how useless it has become.

And then, for the coup de grace – as gold rose to +$1/oz. for the day, and silver nearly $0.15/oz.; in the form of one of the most disingenuous – and worthless – pieces of information the government has ever published.  That is, just two weeks after its July 2013 NFP report was revised downward by a whopping 36%, it claims a “benchmark revision” of the 12 months ending March 2013 is adding 345,000 jobs.  Never mind the quality of such jobs, or if they even exist; as frankly, the only reason such drivel was published was for the purpose of political PROPAGANDA, and to give the Cartel an excuse to attack PAPER PMs again; which is exactly what they did when it was issued at 10:09 AM EST – i.e, nine minutes after “KEY ATTACK TIME #1.”  And what do you know, for the third time in the past four days, gold is back under the Cartel’s current “line in the sand” at the ROUND NUMBER of $1,330/oz…

24hr Gold 9-26-13 1016

Adding insult to injury – just one day after the CFTC announced its five-year investigation into COMEX silver manipulation ended with no charges; Attorney General Eric Holder is meeting with none other than JP Morgan’s management as he LIES to America that those who manipulate markets will be held “accountable”…

Holder quotes

Why do I write this, you might ask?  Not just for posterity, I assure you.  Instead, my goal is to empower you to realize prices in the manipulated PAPER PM world are an illusion; and thus, well below their true equilibriums.  Ultimately, fundamentals ALWAYS win; and this case will be no different – particularly so.  In fact, I have spent a great deal of time proving PM prices can’t fall much further due to economic LAW; as right now, PM production is already plunging due to prices being pushed below the marginal cost of production.  And if you don’t believe me, than read the comments below, of career mining executive Keith Barron…

There has been speculation about the price of gold dropping below $1,000.  I don’t care what anybody says, that’s not going to happen. 

This would put gold so far below the cost of production that many large mining companies would simply shut down.  Many major mining companies aren’t making any money even at current prices.  They literally would be hemorrhaging money at much lower gold prices.

King World News, September 25, 2013

Remember, such PAPER games – in the stock, bond, currency, commodity, and metal markets – are just noise in the race to the END GAME that nears its conclusion.  Only those that have properly protected themselves will “live to fight another day”; and if you don’t own REAL MONEY, protecting yourself from accelerating – and likely hyper– inflation will be IMPOSSIBLE.