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Bernanke Is Selling Us A Dead Polly

There’s an old financial analogy that high gold prices are the canary in the coal mine for price inflation.  In the old days, before miners had instruments to measure levels of deadly, but odorless, gasses they used to bring a canary down into the mines with them.  If the canary died, they knew to get out in a hurry.

Well with gold prices setting new records nearly every day, that canary is as dead as Stonewall Jackson Osama Bin Laden.  We need to stop printing money immediately and get the hell out of the coal mine.  But Ben Bernanke doesn’t see inflation coming.  He insists that the canary is only sleeping!  He is going to keep us down in the mines!
This reminds me of the old dead parrot routine from Monty Python.  Imagine Ben is the sleezy pet store operator and we, who know a dead canary when we see one, are played by John Cleese.


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