FED: Things Are Going Just Great!!!........................from Rico

The "Chairman" Ben Bernanke spoke last week.

- We're both smiling, just for different reasons.

One of the things he said was hilarious! "Nobody really understands gold prices, and I don't pretend to understand them either."

- Channeling my inner Lewis Black for a moment: 'You have GOT to be sh*tting me! [I had to smile in utter disbelief.]

Ben was faking it...feigning ignorance to maintain full faith and confidence in the Dollar...which is his purpose in life.

- He was 'talking his book' and doing so disingenuously.

We are now 10 consecutive days into a negative GOFO [read: Gold is out of contango and into backwardation].

- Sure seems like everyone ELSE understands Gold prices. Maybe Ben should have a chat with the two bullion banks that have gone into default (ABN Amro, Rabobank)...but he's probably busy discussing what LBMA plans to do in the event of an imminent collapse of the 100:1 fractional Gold system.

He might as well have said:

"Things are going just great!!!

- The stock market is at an all-time high, the offical unemployment rate has been steadily falling since Barry LNU's (last name unknown) first term, the people running things know exactly what they are doing, Europe's problems are fixed, and very bright days lie ahead for all of us." [Ben, smiling: And I'm going into a nice retirement before the wheels completely come off the wagon.]