Best of the Week
Most Popular
1.UK Interest Rates, Economy GDP Forecasts 2016 and 2017 - Nadeem_Walayat
2.How Far Can Gold Price Go? - Bob_Kirtley
3.If You Miss Buying Gold – You Will Regret, it Later - Chris_Vermeulen
4.US Dollar Double Top, Gold Prospects Brightening Rapidly - Clive_Maund
5.Gold Price, Mining Stocks Rocket Higher - Zeal_LLC
6.US Economy Slides One Step Further Towards A Recession - Dr_David_J_Harris
7.Stock Market S&P, NAS Best, Most Reliable Answers Come From The Market And You - Michael_Noonan
8.UK Interest Rates, Economy Forecasts 2016 and 2017 - Video - Nadeem_Walayat
9.David Cameron Humiliated in Poland Over Refusal to Stop Taking UK Benefits, BrExit or Super State? - Nadeem_Walayat
10.2016 - Gold & Silver Rising: A Gold And Silver Bottom May Be In - Darryl_R_Schoon
Last 5 days
France CAC40 Stock Market Technical Outlook - 13th Feb 16
Potential Stocks Bear Market Uptrend Underway - 13th Feb 16
HUI Gold Stocks …Meet Me at The Bottomz Inn ? - 13th Feb 16
Is This the Debt Bubbles Last Rattle? - 12th Feb 16
Gold Stocks Upside Targets - 12th Feb 16
Stock Market Observations - 12th Feb 16
Will Capital Controls Return? - 12th Feb 16
Gold, Gold Stocks, and the End Game - 12th Feb 16
Canadian Dollar Now Even Less of a Haven from US Dollar Collapse Than Before - 12th Feb 16
The Stock Market Dow Elevator; 18, 17, 16.... - 12th Feb 16
Will Harry Dent Eat Crow on His $700 Gold Price Prediction? - 12th Feb 16
Where to Hide Your Money From Reckless Governments - 12th Feb 16
The War on Cash is About to Go into Hyperdrive - 11th Feb 16
More Bankruptcy For Your Retirement Portfolio - 11th Feb 16
2016 - Gold & Silver Rising: A Gold And Silver Bottom May Be In - 11th Feb 16
Gain Trading Confidence by Improving Your Elliott Wave Analysis Skills - Video - 11th Feb 16
With A Gloomy Start To 2016, A Bust Seems Just Around The Corner - 11th Feb 16
UK Interest Rates, Economy Forecasts 2016 and 2017 - Video - 10th Feb 16
World Markets Are in Sync - 10th Feb 16
If You Miss Buying Gold – You Will Regret, it Later - 10th Feb 16
The Fed Doesn't have a Clue! - 10th Feb 16
How Far Can Gold Price Go? - 10th Feb 16
It's Stock Market Panic Time! - 9th Feb 16
Gold Stocks Picks for Patient Pickers - 9th Feb 16
Oil Price Collapse U.S. Recession Odds 2016 - 9th Feb 16
Preparing for Crisis - It's About Risk Mitigation and Capital Preservation - 9th Feb 16
Top Silver Mining CEO: Don't Laugh, We Could See Silver $100+ - 8th Feb 16
Gold, Investment Leadership Changes Permanent? - 8th Feb 16
Stock Market Panic Decline Begins... - 8th Feb 16
How to Save Money By Growing Your Own Homegrown Tomatoes Indoors From Seeds - 8th Feb 16
US Economy Slides One Step Further Towards A Recession - 8th Feb 16
Gold Bear Market Bottom : Mr. Bear has left the PM Sector for Greener Pastures - 8th Feb 16
Stock Market At Important Support - 8th Feb 16
David Cameron Humiliated in Poland Over Refusal to Stop Taking UK Benefits, BrExit or Super State? - 8th Feb 16
Why Crude Oil Prices Could Continue FALLING From Here - 7th Feb 16
Stock Market S&P, NAS Best, Most Reliable Answers Come From The Market And You - 7th Feb 16
Stocks Bear Market Continues - 7th Feb 16
Silver COT Paving Way for Sustained Upside Breakout Sharp Rally - 7th Feb 16
US Dollar Double Top, Gold Prospects Brightening Rapidly - 7th Feb 16
Gold And Silver - Is A Bottom In? Nothing Confirmed - 7th Feb 16
Gold Stocks Something has Changed - 6th Feb 16
UK Interest Rates, Economy GDP Forecasts 2016 and 2017 - 6th Feb 16

Free Instant Analysis

Free Instant Technical Analysis


Market Oracle FREE Newsletter

Global Financial Crisis 2016

Gold and Silver Obviously Hit by Bernanke Testimony Bear Raid

Commodities / Gold and Silver 2013 Jul 18, 2013 - 03:50 AM GMT

By: Jesse

Commodities

Benny made it perfectly clear in his Humphrey Hawkins testimony today that QE, in whatever forms and permutations, is here to stay at least for this year. And when the Fed expands its Balance Sheet, it is most certainly 'creating money,' although as I have said often enough 'printing' is a colloquial expression of the same sentiment.



Thank you very much for clarifying that for all the learned economists Ben.  Your occasional honesty in Congressional testimony is a nice change of pace for a disgraced profession.
• Q: Are You printing money?
• Bernanke: Not literally.

and

• Bernanke: If the Fed were to tighten policy, the economy "would tank."

Ben tended to point a finger at the inept and ideologically purblind Congress for the obstacles to growth.  And in addition to a hearty 'hear, hear,'  I would certainly include the Obama Administration.  The lack of genuine reform is appalling.

But what else can we expect from those stewards of bad governance caught up in a credibility trap which they helped to create.

Gold and silver were obviously hit with a bear raid in honor of Bernanke's testimony. What else would we expect from a thoroughly corrupted financial system? Intraday commentary on that here.


By Jesse

http://jessescrossroadscafe.blogspot.com

Welcome to Jesse's Café Américain - These are personal observations about the economy and the markets. In plewis

roviding information, we hope this allows you to make your own decisions in an informed manner, even if it is from learning by our mistakes, which are many.

© 2013 Copyright  Jesse's Café Américain - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Jesse Archive

© 2005-2016 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

Biggest Debt Bomb in History