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<p>[QUOTE=&quot;InfleXion, post: 1512330, member: 29012&quot;]Thanks again qsilver, please keep it up. Just going to add a couple cents here <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" /> </p><p><br /></p><p>&nbsp; Volume is absolutely in the doldrums right now (typically marks a top, but if QE kicks off in force it will defy), hedgies are waiting for some sign one way or the other for QE3 or LTRO3 (or some equivalent massive money printing bailout), but what they must not know is that QE is already underway by 2 methods. The first is known as &#039;repos&#039; by the Fed which by definition is the same as QE, creating new money ($600 million for starters last week) for the purpose of buying treasuries and securities (this is why OP Twist was not QE3, because no new money was created). The second is via the Fed&#039;s dollar swap lines to the ECB. I read a report last night that ECB dollar swap line demand (Fed money) is currently at a 4 year high which is likely due to the bailout they&#039;ve promised Spain (Bankia) to keep their bond market afloat. </p><p><br /></p><p>&nbsp; In a crisis situation everything paper will be sold off to cover the leverage. IMO this will create initial drops across the board like we saw in 2008, but as soon as things begin to shake out it would be very bullish for metals which have no counter party risk, no default/haircut risk, no crony theft risk, are safe from inflation, and will have value whether or not the grand ponzi scheme survives.[/QUOTE]</p><p><br /></p>

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