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Golden Ben Bernanke
Wednesday, October 31, 2007
There are certainly other factors involved, but, while waiting for today's interest rate decision from the Federal Reserve in a few hours, it is worth another look at how the price of gold has risen since Ben Bernanke was nominated as the new Fed chief.
From $466 per ounce, back on October 24th, 2005 to about $785 per ounce today, that's an increase of 68 percent in just two years.
Ben Bernanke is "golden".
4 comments:
Nice tongue in cheek. Probably what I like most about your blog Tim is getting the point across without the dogma. Who would you say is our Swift and Pope today? Our standards have fallen way down. Stewart gets it and is trying pretty hard, imo. Miller was making progress but started listening to a few too many neocons.
Thanks - I'm not big on dogma, I'd rather think for myself.
Stewart and Colbert are doing a pretty good job in the political satire department so far. Those Better Know a District segments are some of the best stuff around and the interchanges with Bill O'Reilly are priceless. I was a big fan of Dennis Miller years ago when he had the HBO show - now he's just sad to watch.
I was a miller Fan back in the days of his HBO show. However, he's just a Neocon Hack now. He breaks my heart.
The golden irony.
The Fed used to subsidize gold. That kept the price of gold up.
It is interesting to see gold still rises as the Fed anti-subsidizes by holding a lower reserve ratio.
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