Gold Explodes After Bernanke Gives QE2 Green Light: “Sees Case For Further Action” (Full Gospel Included)

Friday, October 15, 2010
By Paul Martin

by Tyler Durden

More broken gospel from the Central Bank of faith and hope, as gold surges, despite what anti-gold bugs out there preach day in and out:

•Fed’s Bernanke says sees case for further action with too low inflation
•Fed’s Bernanke says Fed could buy assets, alter statement
•Fed’s Bernanke says hard to determine pace, size of any purchases, must weigh costs, benefits in deciding how aggressive to be
•Fed’s Bernanke says Fed has tools to ease when rates near zero, earlier bond-buying was successful in lowering long-term rates
•Fed’s Bernanke says risk deflation is higher than desirable, unemployment clearly too high
•Fed’s Bernanke says at current rates of inflation, short-term real interest rates are too high
•Fed’s Bernanke says unemployment to decline slowly, prolonged high unemployment would pose risk to sustainability of recovery
The Rest…HERE

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