Another round of QE?

Yesterday Ben Bernanke testified before congress on the state of the United States economy.  Here is a video I think everyone should see.  It will give you an idea of what Bernanke thinks of the US dollar and show that he has no concept what he is doing with our countries monetary policy.





Those who know me know that I have been a big proponent of gold and silver for the past 18 months or so.  Peter Schiff likes to say, "if gold is soaring, Ben Bernanke is probably speaking somewhere".  Ironically, yesterday Bernanke testified before congress and gold went up $42/oz and at this moment still sits at $1588/oz.  That same day, silver was up $1.72/oz or 7%! 

There is a false sense of security in the stock markets.  Across our country people breathe a collective sigh of relief when Bernanke mentions another round of Quantitative easing.  Yesterday, for example the markets were up over 1%.  If you looked through the media, you would see headlines like, "Market surges on increased consumer confidence".  Read that article and you see that American citizens as a whole don't understand what is going on with the devaluation of the US Dollar.  While the markets were up over 1% on the day, the US Dollar lost 2% of it's value to a basket of major worldwide currencies.  Therefore, there was no gain.  If anything there was a loss.