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Nobody really understands gold prices and I don’t pretend to understand them either.

Ben Bernanke

Over the years, the U.S. economy has shown a remarkable ability to absorb shocks of all kinds, to recover, and to continue to grow.
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Kind Success Years
The people who best use their advantages, or overcome adversity, and work honestly are those most worthy of admiration.
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Adversity People Use
Importantly, in the 1930s, in the Great Depression, the Federal Reserve, despite its mandate, was quite passive and, as a result, financial crisis became very severe, lasted essentially from 1929 to 1933.
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Depression Financial Great Result
The Federal Reserve is not currently forecasting a recession.
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Federal Forecasting Recession Reserve
Under current law, on January 1, 2013, there’s going to be a massive fiscal cliff of large spending cuts and tax increases.
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Cutting Important Law
Investment banks manage to go bankrupt through their investment-banking activities, commercial banks manage to go bankrupt through their commercial-banking activities.
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Banking Banks Commercial Investment
The American people are among the most productive in the world. We have the best technologies. We have – great universities. We have entrepreneurs.
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Entrepreneur People Technology World
The Federal Reserve will not monetize the debt.
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Debt Federal Reserve Reserves
Monetary policy cannot do much about long-run growth, all we can try to do is to try to smooth out periods where the economy is depressed because of lack of demand
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Growth Long Running
Both humanity’s capacity to innovate and the incentives to innovate are greater today than at any other time in history.
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Humanity Incentives Today
Our mission, as set forth by the Congress is a critical one: to preserve price stability, to foster maximum sustainable growth in output and employment, and to promote a stable and efficient financial system that serves all Americans well and fairly.
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Employment Financial Growth
If Wall Street crashes, does Main Street follow? Not necessarily.
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Crash Doe Wall
I’d throw dollars out of helicopters if I had to, to stimulate the economy.
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Dollars Economy Helicopters
Developments in financial markets can have broad economic effects felt by many outside the markets.
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Development Economic Financial
A money-financed tax cut is essentially equivalent to Milton Friedman’s famous ‘helicopter drop’ of money.
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Cutting Helicopters Milton
It’s true that the Federal Reserve faces a lot of political pressure and is unpopular in many circles.
BEN BERNANKE

Circles Political Pressure

Nobody really understands gold prices and I don’t pretend to understand them either.

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Nobody really understands gold prices and I don’t pretend to understand them either.

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