Peter Schiff on Detroit and Bernanke’s Gold Ignorance

“Bernanke is the head of a central bank. Gold is a monetary asset. Central banks hold gold as reserves… How can our chief central banker admit that he doesn’t understand gold? … It’s kind of like a coal miner having no idea what that canary is doing in a coal mine. Maybe the canary drops dead and the coal miner [says], ‘What’s up with that canary?’ And then just going about his day… If he doesn’t get out of that mine, he’s going to die too! … Gold tells you if your monetary policy is correct.”