Friday, March 12, 2010

Obama's Fed Vice Chair Appointee: When Janet Yellen Votes, Gold Will Listen

“Even with my moderate growth forecast, the economy will be operating well below its potential for several years,” Yellen said on Feb. 22. “If it were possible to take interest rates into negative territory I would be voting for that.” (source:  Financial Times News Blog).

Not sure if Yellen's words are supposed to make us laugh uncontrollably or cry.  I will point out that gold is up about $9 this morning and the dollar is getting hit pretty hard, losing 80 overnight.  I don't think I need to comment on Yellen's monetary philosophies - the market is telling us all we need to know.  Got gold?  If you don't you better think about getting some before the price goes a lot higher.

And on that note, here's my quote of the month: 
Anyone who can watch the trading patterns in gold the past 10 trading days from the time Asia opens until the time after Comex opens and still chooses to believe that the U.S. Government does not manipulate the price of gold is either mentally retarded or clincally insane.


  1. Gold was up $9 ,but as usual the cartel took it down, even with the dollar down over $.40, what else is new--same old stuff, just another day !

  2. That's what motivated my quote of the month - it's beyond disgusting