Tourney64 wrote:Decided to ask about his comment that gold is not money. They were taking questions via twitter an cards on people's tables. My card happened to be in top and was put to the bottom of the pile by one of the coordinators after he read it. Bernanke believes he's doing a good job. He said there are 5 things he is supposed to do.
1. Keeping inflation in check below 2%
2. Good economic growth
3. Stable dollar
4. Low unemployment
5. Financial market stability.
I wouldn't grade a C on any of the items. Inflation is not 2% when you add food and energy. It's more like 10%. He gave an example of going to the grocery store and being able to buy things related to inflation, but kept mentioning the 2% number which excludes food that you buy in the grocery store. He also talked about monetizing the debt, but said the fed wasn't they are only doing it short term.
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