That is a really poor choice for a title of this last in Bernanke's series of lectures. 

Strange how history has a way of favoring the survivors. Nonetheless, much of the series has historic value. Some of it requires a suspension of common sense, other parts are bravely pastiched from the whole cloth of rhetoric, and every now and then, some facts do emerge. You will have to decide for yourself which is which 

Bernanke grades his lecturees on a proprietary curve which he learned while playing quoites with Baron Rotschild and his other cronies in the Bildesberger. It goes something like this: Depending on the students lineage and family ties, they will get either a Pass, Fail or Welcome Aboard!

Listen as he indoctrinates the next class of world leaders in this final lecture at George Wahington University.

The following link will give you more on Chairman Bernanke's lecture series. Helicopter Ben 'splains the Fed to the next generation at George Washington University.

This is the first in a series of four lectures by Ben Bernanke.

Interesting to note that he begins by telling the students a prevarication (it wouldn't be kosher to call such an august man a liar - oh hell, if it walks like a duck, swims like a duck and quacks like a duck, chances are ... it's probably a bloody duck!).

Anyway, here for your elucidation ... and amusement ... are the erudite ramblings of "Helicopter" Ben!

Being all a-twitter with anticipation here, without further ado is: Bernanke, the Lecturer, Part One 

Enjoy!

We don’t need no stinkin’ gold! (Or silver either.) It’s just a barbarous relic of a by-gone era, right? Well, consider this – we’re spending nearly 12% of GDP in borrowed money that we don’t have. In just one month (May) in 2010 we borrowed and spent $333 billion – that is 28% of GDP!

The CBO (Congressional Budget Office) stated in a report: “In actuality, the economic effects of rapidly growing debt would probably be much more disorderly as investors’ confidence in the nation’s fiscal solvency began to erode. …..All in all, the U.S. economy could contract sharply for a long period.” (end quote). This is an 82 page document that is well worth your reading – unless you don’t give a damn! Hey! It’s your money Mr. and Mrs. John Q! If you don’t care, I can assure you your elected officials sure as hell don’t!

Is it any wonder then that Cramer, CNBC, the Wall Street Journal (including MarketWatch), Geithner, the Oracle of Omaha and all the government flacks are fighting so hard to maintain an illusion of control over the economy?

China buys gold while the US whistles past the graveyard.