Gold and silver may be responding today partly to the comments from J. Bullard of the St. Louis Fed. A lot of analysts/investors have been predicting/suspecting a new round of QE, and this may be a test flag run up the flag pole.

It's a longish article with some interesting comments at the URL if interested, and if it works.

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Are the Helicopters About to Take Off?

by Randall W. Forsyth

Friday, July 30, 2010

• St. Louis Fed president calls for "quantitative easing" to prevent Japan-like deflation. Why the flip-flop?

IN WHAT MAY BE PREPARATORY STEP for a major shift in the U.S. monetary policy, St. Louis Federal Reserve Bank President James Bullard warned the U.S. is closer to succumbing to a Japanese-style deflation than any recent time, which he urged be countered with "quantitative easing."

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http://finance.yahoo.com/banking-budgeting/article/110194/are-the-helicopters-about-to-takeoff;_ylt=AoVMsJSewIFnlMZ_XcScCq67YWsA;_ylu=X3oDMTE2azIzYzIyBHBvcwMxMARzZWMDdG9wU3RvcmllcwRzbGsDYnVsbGFyZGZsaXAt?mod=bb-budgeting&sec=topStories&pos=8&asset=&ccode=