Is Bernanke Really the Best Fed Chairman?
While the CPI has been contained under Bernanke’s term, the price of gold has exploded. The precious metal has strong price swings that make it less than perfect as an inflation gauge in the short-term, but when central banks inject trillions of dollars into the financial system with a few key strokes, it serves as a major catalyst.
As the chart from Bespoke Investment Group shows, the price of gold under Bernanke’s term has climbed almost as high as during the previous three chairman combined. This is not a pleasant sign for the U.S. dollar’s purchasing power.
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Disclosure: Long EXK, AG, HL, PHYS