Confidence in the dollar won’t last long when the investment community discovers that Bernanke has realized all his fancy theories are useless. This could be seen to some extent again yesterday afternoon as commodities rose during and after his speech. (Remember the last Bernank speech, when gold started going up as soon as his lips started moving, and rallied a good $20 by the time he finished his speech?)
Many readers have been asking why gold and silver are down HARD today.
The answer is that the Fed and the cartel are panicking after oil, silver, and gold all melted up (again) after The Bernank opened his mouth yesterday.
There’s not much confidence left here folks. Just wait until late August when QE goes MASSIVE.
We might see The Bernank’s last playbook (gold revaluation) sooner than anyone can imagine.