Gold surged more than 10% in January, but lost a lot of ground on news of continued strong jobs growth. Peter argues that Obamacare going is skewing the employment data. To avoid the additional costs of full-time employees, businesses are cutting workers to part-time hours while hiring additional staff. But “job sharing” is a double-edged sword that will mean even bigger lay-offs when the market retrenches.

Stay tuned for a full transcript.

0:05 – The price of gold has been under some pressure since the release of the non-farm payroll number for January and the upward revisions to previous jobs numbers throughout 2014.

0:55 – This boost in jobs is seen as proof that the recovery is real and the Federal Reserve is going to be raising rates later this year.

1:20 – More important than the number of jobs being created is the quality of those jobs.

1:50 – In response to Obamacare, employers are hiring more part-time workers to “share” full-time positions.

3:38 – People need to look at economic data that has not been skewed by Obamacare to understand the true nature of the economy.

4:07 – If you live by part-time jobs, you die by part-time jobs. When companies reduce hours in response to a poor economy, more people will get fired.

5:00 – Inflationary monetary policies around the world should be lifting the price of gold, but everybody believes the US dollar is the lone holdout in the easy money parade.

5:40 – The US is not going to raise interest rates. If the Fed is making decisions based on jobs, it will likely launch a new quantitative easing program.

6:20 – The more money the Fed prints to create jobs, the worse the economy will become, which will force the Fed to print more money to create more jobs.

7:00 – Accumulate physical gold and silver before the financial community wakes up and rushes to buy these metals at higher prices.