GoldMoney founder James Turk, editor of the Freemarket Gold & Money Report and consultant to GATA, analyzes Federal Reserve Chairman Ben Bernanke‘s inflation speech this week and finds the Fed’s rationale for manipulating the gold price.
It is, Bernanke said, a matter of controlling inflationary “expectations.” That is, if you believe Bernanke, the public causes inflation by expecting it; the Fed doesn’t cause it by increasing the money supply far out of proportion to the productivity of the economy.
Turk’s new essay is titled “Controlling Inflationary Expectations” and you can find it at Kitco HERE