A: His lips are moving. Here’s a direct quote from a speech Bernanke gave to the National Economists Club in 2002, when he was jockeying to become Greenspan’s successor:
“U.S. Dollars have value only to the extent that they are strictly limited in supply. But the U.S. Government has a technology, called a printing press or, today, its electronic equivalent, that allows it to produce as many U.S. Dollars as it wishes at essentially no cost.”
The golden truth is that hyperinflation is a response to deflation and a Government’s attempt to prevent deflation. That is exactly what Banana Ben Bernanke is doing now. Gold has gone up in dollar terms 452% since its 2001 bottom at $250 – 16%/yr on average every year – without the benefit of any perceived price inflation. Imagine the move gold will make when Bernanke’s monetary policies begin to translate into price inflation – imagine the move the mining stocks will make…
Bernanke’s entire monetary foundation is based on the devaluation of the U.S. dollar. That’s why gold has done what it’s done over the last 9 years…Got Gold?
[ad#Gold Color Ad- 300×250]