“Should we buy gold or U.S. Treasuries? The U.S. is printing dollars on a massive scale, and in view of that trend, according to the laws of economics, there is no doubt that the dollar will fall. So gold should be a better choice,” said Li Lianzhong, who heads China’s economic policy research office to CNBC.
* “Fed Chairman Ben Bernanke defended the central bank’s involvement in Bank of America’s controversial acquisition of Merrill Lynch, on Thursday saying the central bank acted with integrity and did not apply any undue pressure to complete the merger,” reports Marketwatch. [Ed. Note: Was that a quiver in Ben's voice I detected?]
* “Warren Buffett said there has been little progress over the past few months in the “economic war” being fought by the country. While the economy is a “shambles” and likely to stay that way for some time, he remains optimistic there will eventually be a recovery over a period of years,” reports CNBC.
