Bernanke: "I don’t fully understand movements in the gold price.”

[freshjiva]

http://blogs.wsj.com/economics/2010/06/09/bernanke-puzzled-by-gold-rally/?KEYWORDS=bernanke


“I don’t fully understand movements in the gold price,” Mr. Bernanke admitted. But he suggested it might be another example of investors fleeing risky assets and flocking to assets that are perceived as less risky, not only Treasury bonds, but also ones like gold.

You're damn right people are "fleeing risky assets" like the US Dollar.

Someone needs to explain to Bernanke that this is precisely why we need to return to either a pure gold standard or Hayek's idea of a market-determined basket of commodities.

Good God.

[tjeffersonsghost]

http://blogs.wsj.com/economics/2010/06/09/bernanke-puzzled-by-gold-rally/?KEYWORDS=bernanke



You're damn right people are "fleeing risky assets" like the US Dollar.

Someone needs to explain to Bernanke that this is precisely why we need to return to either a pure gold standard or Hayek's idea of a market-determined basket of commodities.

Good God.

Dont ya love how they play dumb?

[K466]

Bernanke is lying. I posted about this awhile back at Gather.

http://www.gather.com/viewArticle.action?articleId=281474978303562

[acptulsa]

He fully understands the movement. He understands the motivation. And he understands the phenomenon.

The only thing he doesn't understand is how his line of $#!+ is failing so badly.

[Matt Collins]

What an idiot

[Imaginos]

Hey Bernanke, it's ok. We already know you're an idiot.

[Acala]

Well I guess since the Fed doesn't really understand gold, they really aren't the best steward of all the gold they have sequestered away in their vaults. Maybe they should turn it over to people who DO understand it. Like the public they stole it from. At the price paid for it.