Janet Yellen stated today that, “Nobody has a very good model of what makes gold prices go up or down”. One reason she pointed out was the fact that investors hold precious metals when they are worried about a collapse in financial markets. These remarks are very similar to statements made just a few months ago by current Fed Chairman Bernanke. He stated, “Gold is not a typical asset and nobody really understands it”.
Why does the Fed continue to downplay the very asset they themselves are heavily vested in? The Fed’s primary job is to do anything it can to make the dollar appear trustworthy. Even at a time when they are intentionally destroying it.
Be prepared to hear more anti-gold rhetoric mixed with baseless praises concerning the dollar from the new Fed mouthpiece.
Gold Goliath is not your typical gold dealer.