Bernanke...

' 'It's worth noting that there have been times when exchange-rate policy has been an effective weapon against deflation,'' Bernanke said, citing the 40 percent devaluation of the dollar against gold enacted in 1933 to 1934. ``The devaluation and the rapid increase in money supply it permitted ended the U.S. deflation remarkably quickly. Monetary actions can have powerful effects on the economy.' " (Bloomberg)

Gold: $1000/oz. Need I say more? Bernanke also talks about pushing 0% rates out by buying unlimited amounts of Treasuries out a certain maturity range.

Let's watch rates closely to see if he's able to push them down.