We would argue that as Chair of the Federal Reserve Bernanke merely delayed the inevitable, he just kicked the can down the road for his predecessors to deal with.
The money supply in the United States and throughout the world exploded and inflation soared here and abroad. The gold price in U.S. dollars went down.
In my opinion, the precious metals sector is on the same path that it went down (and then up) in the summer/autumn of 2008. Gold and silver are very undervalued relative..
The agency accuses Higgins and his companies of misappropriating $7 million dollars in assets of over 200 clients through what is described as a “fraudulent silver leasing program.”
Our times are stuffed with daily ironies all pointing to the same grim reality: the failure of experts, particularly those in charge of the many systems that manage our lives.
H.R. 9157 points out the following: “The Federal Reserve note has lost more than 30 percent of its purchasing power since 2000, and 97 percent of its purchasing power since the passage of the Federal Reserve Act in 1913.”
The commercial net short position in gold sits at 9.65 million troy ounces, up 3.44 million troy ounces from the 6.21 million troy ounces they were short in last Friday's COT Report..
The U.S. Treasury & the Federal Reserve would have 30 months to publicly disclose all gold holdings and gold transactions, after which time the Federal Reserve note “dollar” would be pegged to a fixed weight of gold at its then-market price.
