Not only did FED signal strongly that future QE is coming but Bernanke also defended what they consider it's effectiveness over the last few years and that the cost benefit ratio has been positive for QE to date. This sure tells me where the majority of the FED members stand, the doves are firmly in control versus the hawks like Bullard. They made it totally clear to me that unless the ecomony gets a substantial and sustained improvement with demontarble declines in unemployment shortly, they will print and use other unconventional measures. They want unemployment at 6% maximum not 8.3% on it's way to 9% again or as the real numbers show, 14% on it's way to 16-17% again.

I believe they are deadly serious in their views about the high costs of people without jobs and the toll it takes on peoples lives and the economy and society. And their actions will show it going forward as the last thing they could possibly tolerate right now is another recession which is exactly where this economy and many on the planet are going if not there already.

This is not to say I agree with their solution or strategy but I will say they made their bed 4 years ago on the approach they would take and they must lie in it, to do otherwsie would destroy their credibility entirely. The outcome for gold/silver, precious metal equties and most equities will be strongly higher as this policy continues or accelerates for a long time before the piper must be paid which he will be ultimately.

BTW, my original thought was how impressed I was at the stock action on not only a months end but the months end leading to after labour day when most of the money returns to the market for Q3. The trend is your friend as they say and this may be a hard trend to reverse anytime soon given the impressive strength shown today.