Richard Russell- The great Richard Russell's take on Ben Bernanke and gold

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The great Richard Russell's take on Ben Bernanke and gold

Tuesday, July 19, 2011
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From Richard Russell in Dow Theory Letters:

When Bernanke was asked if gold was money, he answered "No." When Bernanke was asked why the U.S. held the largest hoard of gold of any nation on earth, he answered, "Convention."

My take -- Bernanke is either dishonest, a liar, or ignorant. Take your choice. My pick -- he's up against the wall and dishonest. The Federal Reserve is all about fiat money. Is it any wonder that the Fed Chairman had to deny that gold is money?

Crux Note: Learn more about the excellent Dow Theory Letters here.

More from Richard Russell:

The great Richard Russell on how anyone can become rich

Richard Russell: Why the bull market in gold has much farther to go

Richard Russell: Everything you need to know about gold in three sentences

Topics:		Richard_Russell \| Gold \| Fraud

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