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My Confrontation With Ben Bernanke: The One Question He Refused to Answer

The Secret Service agents watched me warily as I approached U.S. Federal Reserve Chairman Ben Bernanke.

I didn't waste any time. After introducing myself, I showed him a copy of the talk he gave at the American Economic Association (AEA) meetings in January 2007. I circled all the times he used the words "panic," "crisis," and "stress" in his speech, entitled "Central Banking and Bank Supervision of the United States."

A total of 36 occasions.

I asked him point-blank: "Did you know in advance that a financial crisis was headed our way?"

He looked nervous. I could tell he was uncomfortable with my question. He looked at me stoically and smiled.

And he refused to answer.

But there was no doubt in my mind what the correct answer was. I think he was worried about his job if he said, "Yes."

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Silver's Run Quietly Gains Momentum

New fears over the U.S. dollar's vulnerability – warranted or not – have been a boon not only to gold prices, but its more affordable inflationary hedge silver. The white metal is up roughly 10% since Money Morning's Sept. 28 analysis of silver with futures trading as high as $17.71 this morning on the New […]

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The No. 1 Way to Profit When Silver Upstages Gold

While prices of gold don’t necessarily affect silver prices or vice versa, history has demonstrated that when gold rises or falls, silver usually follows suit. This time around, silver has failed to match the gains that gold posted in recent months, spawning a widespread believe that silver is poised for a bull run. Such factors […]

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