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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.

Even Ben Bernanke Admits that Gold Is the Ultimate Safe Haven 150709banner2 [6]

Stock up with Fresh Food that lasts with eFoodsDirect (AD) [7]


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URL to article: http://www.prisonplanet.com/even-ben-bernanke-admits-that-gold-is-the-ultimate-safe-haven.html

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/

[7] Stock up with Fresh Food that lasts with eFoodsDirect (AD): http://www.efoodsdirect.com/

[8] HSBC’s David Bloom: “Gold Is The Only Safe Haven Asset That Will Not Do QE, Put In Capital Controls Or Complain”: http://www.prisonplanet.com/hsbc%e2%80%99s-david-bloom-%e2%80%9cgold-is-the-only-safe-haven-asset-that-will-not-do-qe-put-in-capital-controls-or-complain%e2%80%9d-2.html

[9] Is Gold No Longer A Safe Haven? Not According To Capital Economics: “Gold Will Surge When Euro Crisis Escalates”: http://www.prisonplanet.com/is-gold-no-longer-a-safe-haven-not-according-to-capital-economics-gold-will-surge-when-euro-crisis-escalates.html

[10] Gold hits record above $1,260 on safe haven demand: http://www.prisonplanet.com/gold-hits-record-above-1260-on-safe-haven-demand.html

[11] Gold Usurps Dollar As Safe Haven for Worried Investors: http://www.prisonplanet.com/gold-usurps-dollar-as-safe-haven-for-worried-investors.html

[12] Gold surges more than 6% on safe-haven buying: http://www.prisonplanet.com/gold-surges-more-than-6-on-safe-haven-buying.html

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