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Santelli Stunned As Janet Yellen Admits “Cash Is Not A Store Of Value”
In a stunning admission by Janet Yelling, has openly stated that cash is not a store of value. This sometime later off the heals of what Allen Greenspan had said about gold being a premier currency, and that no paper money could touch it, not even the US dollar.
According to Zero Hedge:
Intended warning or unintended slip? After Alan Greenspan’s confessional admission [4] 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.”
* * *
Yellen: “cash is not a convenient store of value”
Stunning?? really, you think it’s stunning??? it’s a fact, it has always been a fact that fiat currency is not, nor has never been a store of value! rolls eyes at your abysmal failure to learn from history and you’re now “stunned” by an admission of what has always been the truth!