"It Was The Dukes!"
Posted on 08/22/2024 3:42:40 AM PDT by Red Badger
Another Biden-Harris Bureau of Labor Statistics scandal.
Three banks quietly obtained key payroll data from the BLS as it delayed posting the jobs report for 30 minutes due to ‘technical issues’ on Wednesday.
Wall Street was thrown into chaos and there was confusion at trading desks on Wednesday morning after the BLS failed to post its jobs report revealing nearly 1 million jobs vanished in the last year.
The BLS was supposed to post its report online at 10 am ET.
The report wasn’t posted until 10:30 am ET, however, at least three banks obtained the key payroll data as the rest of the public was left in the dark.
Watch Fox News report on the so-called ‘technical issues’
The 818,000 jobs that Kamala Harris and Joe Biden claimed to have “created” over the last year aren’t actually there.
Joe Biden and Kamala Harris were cooking the books the whole time and lying to the American people.
The nonfarm payroll growth between April 2023 to March 2024 was revised down, the Bureau of Labor Statistics said on Wednesday.
That’s 68,000 fewer jobs per month – 115,000 fewer manufacturing jobs and 45,000 fewer construction jobs.
Bloomberg reported:
At least three banks managed to obtain key payroll numbers Wednesday while the rest of Wall Street was kept waiting for a half-hour by a government delay that whipsawed markets and sowed confusion on trading desks.
After the Bureau of Labor Statistics failed to post its revisions to the monthly payroll figures at 10 a.m. New York time, Mizuho Financial Group Inc. and BNP Paribas SA both called the department and got the number directly. So did Nomura Holdings Inc.’s economic research team, according to a person familiar with the situation.
Anger quickly mounted as word spread across Wall Street that the BLS had begun giving out the numbers over the phone. A scramble ensued, with other firms and media outlets, including Bloomberg News, trying to obtain the figures, too.
When the data was finally released around 10:30 am, it showed payrolls will likely be revised down by 818,000 for the 12 months through March, the steepest markdown to the job numbers since 2009. Stocks initially jumped and bonds gained because the report lent support to speculation that the Federal Reserve will start cutting interest rates next month.
This isn’t the first time the BLS has engaged in questionable practices.
“In May, the BLS inadvertently published Consumer Price Index data to its website about 30 minutes ahead of its official release. A month before that, it was reported that an economist from the BLS had answered numerous inquiries from major Wall Street firms like JPMorgan Chase & Co. and BlackRock Inc. on details of data related to the inflation gauge, raising questions about the department’s practices.” Bloomberg reported.
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This is true fascism, the joining of totalitarian government with industry and banking.
We are a long way down the road t9o being a fascist state. It must be corrected.
Make the banks accountable.Cancel their FIDC policies.
Gotta love insider trading. The question now is “how and who in those banks are connected to the democrat/Biden/Harris regime?”
I think this is less to do with BLS being nefarious and more to do with the fact they are incompetent.
I read about this issue from another source that had more detail, evidently on the webpage where the information was supposed to be posted at 8am, a phone number to BLS was listed, the banks who got the information early all called the number and simply asked the tech who answered the call what data would be reported, the tech simply told them what would be reported.
In the 30-minute gap before the data was posted online, the rest of Wall Street found out simply calling the number listed on the webpage was how the banks found out early, that resulted the phone lines melting down.
The really stupid part was last night at the DNC convention, Gina Raimondo, Labor Secretary was asked about the screw up because Donald Trump had brought up the issue at his campaign rally.
Raimondo said she did not believe a single thing Trump said, the reporter to her credit told Raimondo, the data came from the BLS which she oversees, Raimondo responded by saying she didn’t know anything about the revised numbers.
I could have made some money trading on this inside info, but I could have gone to jail over it, too. Not so the big guys!
Saying she didn’t know anything.......would be more accurate...........
I love how she immediately launched into not believing a thing Trump says, until reminded by the reporter the data came from a department she was in charge of, kind of like taking a gut punch.
Incompetence permeates virtually every part of the Federal government under the purview of Deep State and the Harris/Biden regime.
That Krazy Komrade “Que mala” Kamala Harris owns every bit of it, she was in the room when these decisions were made, and she aided and abetted the implementation of virtually every aspect of the “Bidenomics” and the border crisis, among others.
So not ready for prime time.
The nefarious part of this story is how bogus the numbers of about every part of the economy truly are, screwing up the release time of the information was incompetence.
The banks can ask, the BLS should say no. The BLS is at fault here. It’s like they’ve never done this before.
“The BLS is at fault here.”
I don’t care about the 30 minute delay in reporting the latest number, but the BLS owes us an explanation for the inaccurate reporting of jobs data over the last year.
The banks and investors are equally at fault, even more so. The numbers were released at a certain time. Just because they are not on Some webpage doesn’t mean they are not available. Kudos to the banks that actually did their due diligence, got off their asses and called to get the data while everyone else just waited.
"It Was The Dukes!"
Three Foreign Banks got the MNPI while it was 30 minutes delayed to the rest.
Mizuho, Japan, Nomura, Japan and Paribas, France.
Obvious front running going on overseas. Looks like a Brandon Crime Family Special Op. Brandon Commerce Secretary claims no knowledge there was to even be an announcement. Another illegal financial crime by crooked Joe.
Anything with the word “Bureau” in it should be dissolved.
Here is a video Gina Raimondo saying she doesn’t believe anything that Trump says only to be reminded the BLS numbers come from a department she manages, which she responds by saying she knows nothing about that.
There have been rumors about the bad dat for days.
My bet is the only people who didn’t know were most of the taxpaying public.
What did members of Congress know and when did they know it, hmmmm?
Bankers should already have had a damn good idea they were being lied to or they should find a new line of work.
Ah, Paribas.
I remember that name.
From the Oil for Food scandal.
Those are not “retail” banks, Those are “Too big to fail” investment banks. They couldn’t care less about FDIC coverage.
They made a lot of money from those phone calls.
Ummm...
We knew this was coming FOR DAYS.
The article doesn’t address that ‘leak’ at all - including Bloomberg...almost as though they are trying to distract from it.
Normally GP would be on top of something so obvious. Curious...
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