Reply #65: Gold prices are high because Obama and Bernanke pumped too much money into the banks.

[girl gone mad]

It has nothing to do with Glen Beck or manufactured panic. Equities fell sharply today, too.

This is what happens when you give financial parasites endless access to cheap money, allow them to cook their books and continually roll back the rules and regulations. They pump and dump, over and over again.

Once again, people rush to blame the victims while Wall Street crooks are making off with the loot.

Blame the President and his economic team. Blame Bernanke and the Federal Reserve. Blame the investment banks and top hedge funds. Don't blame the little old lady buying American Eagles with her retirement savings and the low-information radio listener scared that the few dollars he has will decline to nothing because he doesn't understand how fiat currency works. This is actually rational behavior in the face of several decades of steady dollar devaluation, and the President doesn't seem to understand how fiat currency works, either.