The entries that Bernanke has penned so far discuss three weapons — negative interest rates, targeting longer-term interest rates, and helicopter money — that the central bank can still wield to hit the 2% inflation target it needs to declare final victory over the deflationary forces still lingering from the Great Recession.
But one word is missing from the three-part series: gold. That’s no surprise given Bernanke’s infamous dismissal of the yellow metal in verbal sparring sessions with then-Congressman Ron Paul during appearances on Capitol Hill. Even after Paul retired from Congress, Bernanke admitted to lawmakers that “no one really understands gold prices,†including Ben himself.

