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July 14, 2011 / Hal (GT)

Bernanke gives a Whoopsie.

Does anyone else think that our government officials are confused and clueless on the economy and how to fix it?

What a mess. Yesterday, Bernanke comes out and hints that things are not as good as initially thought so more quantitative easing was on the table. Today, after the market reacted strongly to that news, he comes back before Congress and does an about face. Kind of wishie-washie if you ask me.

Of course this all comes after gold hits another new nominal high near $1,595.00 and ounce. Watching today with the widget has been fun that is for sure. As soon as the Ben started talking the selling hit, driving the spot price down nearly $15 before bottoming and spring back to $1590. Which is were it sits right now. So… it would appear the gold bull ain’t all that tired on his run.

I’ve got a bunch of links for you.

WHY WE ARE IN TROUBLE <- speaking of Bernanke.

Fiatus Decrepitus <- you can say that again.

Serial Killers and Politicians: The Link? <- Hard to argue with this.

More Stimulus Ahead <- Expected Returns knows what to expect:

Everyone is getting a real-time economics lesson on why central government planning doesn’t work. A free market emits truth about supply, demand, and productivity at the margin.

Felix Zulauf – Collapse Will Cause Governments to Change Rules <- A pretty picture is not painted here.

Debt Crisis: Learning a Lesson From Our Forefathers <- this is interesting and here’s the video attached to the article:

Solid exposure in gold and silver vital while platinum set to skyrocket

Gold hits new record for second day running

The countries with the largest gold reserves

With Dollar Tumbling, Bernanke Has to Pretend That Gold Isn’t Money

Things – The Grandich Letter. Go see the gold chart and analysis.

That’s where I’ll stop today. I’m curious to see what happens overnight so I’ll definitely be watching. Will you?


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