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Even Ben Bernanke Admits that Gold Is the Ultimate Safe Haven

Washington’s Blog [1]
July 15, 2011

As I noted [2] yesterday, Alan Greenspan says that gold is the ultimate safe haven:

Gold still holds reign over the financial system as the ultimate source of payment.

Indeed, as I’ve previously reported [3], gold is in high demand during periods uncertainty and distrust of government. And see this [4].

As Ambrose Evans-Pritchard points out [5] today:

Mr Bernanke himself was grilled by Congress this week on the role of gold. Why do people by gold? “As protection against of what we call tail risks: really, really bad outcomes,” he replied.


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