Today both Chairman of the Federal Reserve Jerome Powell and the secretary of the United States Treasury Department Janet Yellin began a two-day congressional testimony.

Unlike the focus that has been so prevalent over the last month or so, today’s fractional decline in gold pricing is not due to Bitcoin, the dollar, or to current yields of the U.S. 10-year Treasury note.

According to Wikipedia, “Read my lips: no new taxes” is a phrase spoken by then-American presidential candidate George H. W. Bush at the 1988 Republican National Convention as he accepted the nomination on August 18.