They Hid This Jobs Report

Dear Reader,

They told you unemployment fell last month. From 4.2% to 4.1%. Progress, they said. Good news.

Here is the other number they buried in the footnotes: the economy lost 23,000 jobs in July. Economists expected a gain of 80,000. They missed by 103,000. And then they quietly revised the prior two months down by another 103,000.

Unemployment fell because people stopped looking for work. The labor force participation rate dropped to 61.4%. Fewer people in the pool. That is how you lower the unemployment rate without creating a single job.

Gold knew. It jumped $102 in one session.

Inside today's issue:

• Why "unemployment fell" is the oldest government trick in the book
• Trump just moved to fire a Federal Reserve governor. Why it matters for your money.
• Gold at $4,353. UBS now targets $5,000. Here is what the smart money is doing.
• Larry Benedict just released a new presentation on a strategy called "Oil Skimming." It's worth a look.

THE NUMBERS DON'T LIE. THE HEADLINES DO.

I have been watching governments manipulate statistics for 50 years. Friday's jobs report was a masterpiece of misdirection.

The Bureau of Labor Statistics reported that the unemployment rate dropped from 4.2% to 4.1%. Every major network led with that number. "Economy shows resilience." "Labor market holding firm." Bloomberg celebrated. CNBC celebrated.

Nobody celebrated the -23,000 payrolls. That is jobs lost, not gained. The forecast was +80,000. We got -23,000. Before they even started counting July, they revised May and June down by a combined 103,000 jobs. So the "strong" labor market you were sold this spring never existed.

How does unemployment fall when you lose jobs? Simple. People left the labor force. Labor force participation fell to 61.4%. When workers give up and stop looking, the government stops counting them as unemployed. My poor dad would call that accounting. My rich dad called it fraud.

Wage growth came in at one tenth of one percent. That is a five-year low. Workers are earning less. In real terms, with inflation still above 2%, they are going backwards.

"US employers unexpectedly cut jobs in July amid headwinds caused by elevated inflation and uncertainty over the Iran war's economic impact."

Then there is the Federal Reserve story running alongside this.

On August 5, the Trump White House sent a letter to Fed Governor Lisa Cook. They told her Trump is "considering removing" her from the Federal Reserve board. They gave her until August 26 to respond to allegations of mortgage fraud. The Supreme Court blocked the last removal attempt. Now the White House is trying again.

Three sitting FOMC members already dissented at the July meeting, voting to raise rates. The Fed held at 3.50% to 3.75%. Now with payrolls negative, markets are pricing five rate cuts by year end. The Fed is paralyzed, split, and politically under siege.

Gold read all of this correctly. It surged 2.4% on Friday, settling at $4,353 per ounce. Best week since January. UBS called it on Friday: they see $5,000 gold by the first half of 2027.

Here is the number that stopped me cold this morning. Two months of "solid" job growth just got erased in a single revision. And the people running monetary policy cannot even agree on whether to cut or hike. I want to tell you exactly what this means for your wealth. Right after this:

But first, take a look at what our partners at Paradigm Press are watching right now:

WHAT IT MEANS FOR YOU

Here is what two revised months plus one negative payroll print actually tells you:

The labor market peaked earlier this year and has been quietly deteriorating since. The official numbers were too optimistic. They always are. Government statisticians revise down, never up. That is a pattern I have watched since the 1970s.

The Fed is trapped. If they raise rates to kill inflation, they crush an already weakening job market. If they cut, they risk letting inflation run. Three FOMC members wanted to hike in July. The rest held. Now with negative payrolls, the hawks have lost their argument. Rates are going lower. Maybe not this month. But the direction is set.

I have been buying gold since it was $300 an ounce. I still believe in it at $4,353. Not because I am a gold bug. Because I understand what happens to paper money when governments cannot tell the truth about their economy.

Every time the government revises down, the dollar loses credibility. Every time the Fed cannot decide what to do, gold wins. Every time a president tries to fire a central bank governor, international investors ask: is this institution independent? The answer matters. A politicized Fed prints more money. More money means higher gold.

SILVER ALSO. Silver hit $64.31 on Friday, up 2.8% in one session. Platinum up. Palladium up. The entire hard asset complex read the Friday report and sprinted in the same direction.

The system is telling you one story. The markets are telling you another. I believe the markets.

To your freedom,

Robert Kiyosaki

Author, Rich Dad Poor Dad

P.S. For years, our friend Larry Benedict ran his own hedge fund, where he quietly generated over a quarter of a billion dollars in profit. Now he's pulling back the curtain on his top oil strategy. It has already helped his readers have a chance at payouts like $4,354, $4,783, and even $6,268. Watch the free presentation here.