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Even Ben Bernanke Admits that Gold Is the Ultimate Safe Haven

Posted By admin On July 15, 2011 @ 3:45 am In Money Watch | Comments Disabled

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.

Indeed.

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URLs in this post:

[1] Washington’s Blog: http://www.washingtonsblog.com/2011/07/even-ben-bernanke-admits-that-gold-is.html

[2] noted: http://www.washingtonsblog.com/2011/07/fed-chairman-bernanke-says-gold-is-not.html

[3] reported: http://www.washingtonsblog.com/2010/04/gold-buy-hold-or-should-be-sold.html

[4] this: http://www.washingtonsblog.com/2011/07/top-reserve-managers-predicted-that.html

[5] points out: http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/8638644/Return-of-the-Gold-Standard-as-world-order-unravels.html

[6] Image: http://www.prisonplanet.tv/

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