Every Time Bernanke Speaks, PM Prices Skyrocket...

Discussion in 'Money, Investing & Precious Metals' started by IrritatedWithUS, Apr 27, 2011.

  1. IrritatedWithUS

    IrritatedWithUS Well-Known Member

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    In response to a post-FOMC press-conference question on whether he would use monetary policy to influence forex movements, Bernanke commented that:

    “the best thing we can do for the dollar” is keep inflation low and boost the economy through policies that support a recovery and thus bring about capital inflows into the U.S. “Those are the kinds of policies, I think, that in the medium term will create the conditions for an appropriate and healthy level of the dollar.”

    ...and the gold/silver prices skyrocketed...

    Bernanke then said:

    "it’s hard to blame Americans for being “impatient” with the pace of the recovery. Conditions are far from where we would like them to be. it appears that the recovery will continue to be moderate considering the depth of the recession, but I do think the pace will pick up over time.”

    ...and the market climbs again...

    He continues:

    "[The] U.S. dollar is in the interest of the United States and is in the interest of the global economy.”
    “the best thing we can do for the dollar is keep inflation low and boost the economy through policies that support a recovery and thus bring about capital inflows into the U.S. Those are the kinds of policies, I think, that in the medium term will create the conditions for an appropriate and healthy level of the dollar.”


    Every time that man would stop to take a breath to continue to speak, the PM market climbed almost as
    if it was directly affected only by him talking.


    He should talk more often.... :)

    SO, right now:

    Gold: Gold is UP $26.40 to $1,530.90 an ounce. That is $49.09 a gram, folks!
    Silver: Silver is UP $3.09 to $48.22 an ounce

    and it's still going strong. There's rumor after-trading hours will do really well today as well...
     
  2. swede

    swede Member

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    Yeah, he's not that different from Greenspeak, except maybe not quite so eloquent.

    "Keep inflation low..." Hah! At the rate he's printing dollars?

    You can tell he's lying 'cuz his lips are moving....