Saturday, April 12, 2008

What's Bernanke Doing In There (In the Fed)?

A gold bug has many questions, with the greatest being whether to continue the buildup in gold coins at current prices. The spot under the bed is getting stuffed to the gills, and the wife refuses to let the ground under the tomato garden be used as a makeshift repository, but that won't stop purchases.

Then too, of late, the newsletters have been urging the wise to keep their stash of gold in a country away from your own Federal authorities (ironically resulting in some Swedish Gold Bug saying, "I will store my gold in America, some Cayman Gold Bug saying, "I will store my gold in Sweden, and some American Gold Bug saying, "I will store my gold in Cayman").

Along with this question of whether to buy more while the getting is cheap (Gold Bug Economic World Cheap, that is), and where to store it, is the question of what further action Bernanke will take in light of the market drifting back toward 12000.

What is the Fed up to this weekend?

It all reminds me of that Tom Waits song, "What's He Building In There", with Wait's crackpot voiced speculations about what's going on in a neighbor's house growing ever more creepy sounding.

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