When asked about the urban legend that the vaults at Fort Knox are empty, and that the Fed has no gold, former Federal Reserve Chairman Ben Bernanke responded, "I've been to the basement of the New York Fed. The gold is there. I've seen it."
“All we need to know about crude right now is that we have it coming out of our ears, both here and in the Middle East, and that’s why it’s headed to $60,” said Scott Nations, president of the options trading firm, NationsShares.
“You can reduce discretionary spending down to zero and it won’t have much impact on our fiscal problems because it’s such a small proportion of the total,” said Ben Bernanke, former chairman of the Federal Reserve.
"Going to weddings and funerals is part of being a financial advisor," said Theresa Chacopulos of Wells Fargo Private Banking, the top-producing financial advisor in Arizona.
"We're always worried. As a financial advisor, you live your life worried," said David Zier of Convergent Wealth, the top financial advisor in Maryland.
“A government big enough to give you everything you want is strong enough to take everything you have,” said Thomas Jefferson, the second US president and the man on the $2 and $10 bill.
“Interest rates are gravity. When they are zero, shares prices can go to infinity. When they are high, as they were during the early 1980’s, the gravitational pull can be very strong,” said Oracle of Omaha, Warren Buffet.
“Market players are starting to become desensitized to the Armageddon, end-of-the-world stories,” said Jim Paulsen, chief investment strategist at Wells Capital Management.
“In a social democracy with a fiat currency, all roads lead to inflation,” said legendary hedge fund manager Bill Fleckenstein.
Legal Disclaimer
There is a very high degree of risk involved in trading. Past results are not indicative of future returns. MadHedgeFundTrader.com and all individuals affiliated with this site assume no responsibilities for your trading and investment results. The indicators, strategies, columns, articles and all other features are for educational purposes only and should not be construed as investment advice. Information for futures trading observations are obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. Your use of the trading observations is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the information. You must assess the risk of any trade with your broker and make your own independent decisions regarding any securities mentioned herein. Affiliates of MadHedgeFundTrader.com may have a position or effect transactions in the securities described herein (or options thereon) and/or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies.