Q2 GDP: Gross Leveraged Lie

by Jim Willie, CB. Editor, Hat Trick Letter | August 14, 2008

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"...It is hard to find much positive regarding the gold trade lately. The attacks have been multi-faceted during the weak late summer season. So resort to something of value: THE TRUTH. As Ralph Waldo Emerson once said, “The greatest homage one can pay to the truth is to tell it.” When the US financial lattice work was showing clear signals of near total destruction, if not simple decimation, when USGovt bailouts seemed certain to cost in the trillion$ from mortgage agency rescues and FHA mortgage loan mulligans (second chance shot in golf), when US banks seemed caught in a race to raise more cash for equity from friendly foreign fools who fail to read the news, when the USEconomic recession has been turning broad and deep, when General Motors and Ford seem caught managing their death process toward a certain bankruptcy, THE USGOVT NEEDED A REALLY GOOD LIE FROM WHICH TO BUILD A DOLLAR BOUNCE. The Q2 report for the US Gross Domestic Product was a Gross Deception Perpetrated upon the world. The degree of its inherent lie was staggering to be sure, powerful in its impact. The acceleration of the economic recession is as grandiose as the official lie was grotesque. The importance of the accepted lie was momentous, enough to generate a significant USDollar bounce."

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