Over the last couple decades, we've heard some pretty wild claims from politicians that were made to gain our trust or our vote but, instead, quickly turned to crow.
The ones that immediately come to my mind are, Read My Lips - No New Taxes, uttered by George Bush Sr. during his bid for re-election. Then there was, I did not have sexual relations with that woman, said with a straight face by Bill Clinton. Then, more recently we were gifted the promise that unemployment would peak at 8%, as it was somehow divined by President Obama.
Well, move over boys. There's a new leader in the crow eating contest. Last Sunday, Fed Chairman Bernanke told 60 Minutes, One myth that's out there is that we are printing money, we're not printing money. Printing money is what the Fed is being accused of doing to accomplish this latest round of Quantitative Easing.
Throughout history, we have usually had to wait weeks or months for the claim or promise to fall to pieces. Uh uh! Not this time. This one fell apart 21 months before it was made. Watch this video and see why Gold is laughing all the way to foreign central banks who are buying it like there is no tomorrow.
Once you see this video you will know why global gold demand is soaring.