Bernanke says that nobody understands gold prices Posted on 19 July 2013 Don’t ask the Fed if you want to know where the price of gold is going. The man spinning the plates of the US economy has not a clue.
Nobody understands the price of gold according to Federal Reserve Chairman Ben Bernanke who discussed gold in testimony Senate Banking Committee yesterday as reported on Bloomberg Television’s ‘Market Makers’…
http://www.arabianmoney.net/gold-silver/2013/07/19/bernanke-says-that-nobody-understands-gold-prices/ Bernanke on Gold Posted on 19 July 2013In testimony yesterday on Capitol Hill before the Senate Banking Committee, Federal Reserve Chairman Bernanke remarked: “Gold is an unusual asset. It’s an asset that people hold as disaster insurance. A lot of people hold gold as an inflation hedge. But movements of gold prices don’t predict inflation very well, actually. But anyway, the perception is that by holding gold you have a hard asset that will protect you in case of some kind of major problem.
I suppose that one reason gold prices are lower is that people are less concerned about extreme outcomes, particularly negative outcomes and therefore they feel less need for whatever protection gold affords…
Gold price going down is not necessarily a bad thing from that perspective. It suggests people have somewhat more confidence, and are less concerned about really bad outcomes.”
Bernanke failed to admit that gold is “disaster insurance” that will protect people from the monetary disaster that the Federal Reserve’s and other central banks currency debasement may bring about.
Bernanke concluded his analysis of gold by saying: “
Nobody really understands gold prices and I don’t pretend to understand them either.”
People, all over the world who have been buying physical gold in recent months understand gold and know that it is a hedge against currency devaluation.
Bernanke is feigning ignorance and being negative on gold in order to maintain faith in the dollar which is his primary role.
Bernanke’s comments are ironic as his ultra loose monetary policies and that of his predecessor Alan Greenspan which led to the rise in gold prices in recent years.
http://www.silverdoctors.com/bernanke-gold-mope/#more-29435 
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