I Assure This Committee That, If I

It Is Not The Responsibility Of The Federal Bank - Nor Would It Be Appropriate - To Protect Lenders And Investors From The Consequences Of Their Decisions

Nobody Really Understands Gold Prices And I Don't Pretend To Understand Them Either.

To Avoid Large And Unsustainable Budget Deficits, The Nation Will Ultimately Have To Choose Among Higher Taxes, Modifications To Entitlement Programs Such As Social Security And Medicare, Less Spending On Everything Else From Education To Defense, Or Some Combination Of The Above.

It's True That The Federal Reserve Faces A Lot Of Political Pressure And Is Unpopular In Many Circles.

Economics Is A Highly Sophisticated Field Of Thought That Is Superb At Explaining To Policymakers Precisely Why The Choices They Made In The Past Were Wrong. About The Future, Not So Much.