Just finished watching the re-run from earlier today of Chairman Ben S. Bernanke speech at Fort Bliss in El Paso, Texas (haha reminds me of The Steve Miller Band tune every time - classic). Anyway, riveting stuff as you can imagine...
The guy is totally committed to stimulating the U.S. economy, cough, cough, printing money that is.
He mentioned the old gold standard and how it is out dated and wouldn't work today because.... and get this, he says it with a straight face, that the government cannot be flexible with monetary policy, cough, cough, print money...
I'd say 90% chance we will see QE3 here in the US, say late Jan and that we will see gold at $2,200 an once.
