When US Federal Reserve Chairman Ben Bernanke testified in front of the US Congress in July last year he famously said he “doesn’t pretend to understand gold prices” and “nobody does”.
During his successor Janet Yellen’s confirmation hearings she echoed Bernanke’s befuddlement about the gold price adding that she doesn’t “think anybody has a very good model of what makes gold prices go up or down.”
While the two chairs who flooded financial markets with trillions of dollars plead ignorance about the gold price, bugs who saw the flood of easy money coming can enjoy a 40% rise in the value of their hard asset investment since the launch of quantitative easing in December 2008.
2 Comments
Offshore Gold
Shortly currency will revalue when the Global Currency Reset (GCR) hits and 208 countries begin to get a break from the [US] Dollars system, backed until now by debt, not gold. 133 countries have made a pact to no longer take the debt backed Federal Reserve Note. Please do not imagine that gold will not soon raise many time its current price, The banking Racketeers have been manipulating gold for years and in the process trying to push the inflation based paper scam, claiming even “why would you invest in gold when the [US] dollar is stronger. Well fraud has many faces and the scheme of the Fed bankers is about to be exposed. Anyone who thinks paper is better than gold has done little study of history. If you want to privately invest in Gold backed bonds that will get you millions for every 100k invested, email me at: [email protected] and we can do some private business that pays weekly in lawful money. If you want to stay in stocks and the Federal Reserve’s bogus paper good luck, thank you.
Stepman
Gold and $ilver are the only truly valued currency regardless of the paper manipulations. Did you ever imagine whom has the ability to short 100 ton of gold? or 300 ton or even 64 ton? It is obvious that the dollar propping is in play. $tack, $tack, $tack.