Intended warning or unintended slip? After Alan Greenspan’s confessional admission that
“Gold is a currency. It is still, by all evidence, a premier currency. No fiat currency, including the dollar, can match it,”
we found it remarkable that during the Q&A after her speech today that Janet Yellen, when asked about negative rates, admitted that
“cash in not a very convenient store of value,”
seemingly hinting at Bernanke’s helicopter and that there will be no deflation in The US ever…
Rick Santelli then sums it all up perfectly…
“deflation is clearly the boogeyman… and the only thing that will save the middle class.”
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Yellen: “cash is not a convenient store of value”
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So if cash is not a very convenient store of value… what is? Biotechs? As Rick Santelli explains… this is the scariest thing she has ever said…
Santelli: “deflation is the boogeyman… and the only thing that can save the middle class is lower prices”
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