Here we go again – another big week of Bernanke grandstanding and economic reports that are sure to underscore the wisdom of investing in gold coins.

June 21, 2011 – Here we go again – another big week of Bernanke grandstanding and economic reports that are sure to underscore the wisdom of investing in gold coins. But we start out slowly, with little to expect today.

Tomorrow will be just a little better, with the release of May’s existing home sales data. But nobody is expecting that to be encouraging, and lousy home sales is hardly news. Neither are reports of earnings, which are so bloated these days that only a fool would believe that they can be sustained much longer. And, of course, the Fed is meeting once again.

For me the highlight of the week will be Bernanke’s press conference. This one promises to be a gem because he will be unveiling the plan to bring QE2 to a close and take us forward from here. The trick is he must allay the fears of both the citizens and global investors alike, so I think we might see a fine example of doublespeak and twisted statistics. On the other hand, Bernanke could just drop the ball once again and fool nobody with political spin.

Also midweek is Tim Geithner’s appearance before the House Small Business Committee. That could be interesting as well for devotees of fairy tales, at least for those who have missed his performances on the Sunday talk show circuit.

Thursday’s highlights will include two more big reports – new unemployment claims and new home sales. Nothing has changed, of course, but it is always amusing to see how the government and the media massage the data to present a picture that is rosier than reality.

We finish out the week with the report on durable goods orders, which likely will show signs of continued decline in the temporary export advantage the Fed gained us by undermining the dollar. For fiction lovers, coming in a close second to Bernanke’s press conference will be the Commerce Department’s third estimate of first-quarter GDP. Apparently it takes three months to accurately peg that number – or to figure a way to make a silk purse out of the sow’s ear.

Well, I guess it won’t be that big a week after all, only more of the same tired diatribe. A really big week would be one in which the news is about a workable plan of action, a cooperative effort among politicians, business, and individual citizens that addresses real problems and implements real solutions.

Don’t hold your breath. The message is abundantly clear: Buy gold coins because all the effort is going into glossing over the past and prettying up the present, not to turning around the economic decline.

Kevin Johnson

Senior Staff Writer – GoldCoin.net