Mario Draghi from the European Central Bank announced on September the 5th that the new plan to help the economic woes in Europe is the purchase an unlimited amount of Bonds and soverign debt.
What this means is that the ECB will print an unlimited amount of money until things get better. This will dilute and destroy the wealth of all the people who have savings in the Euro and transfer the wealth to the holders of real assets like land, real estate, commodities, and ofcourse precious metals.
You can expect a similar statement to be released by the Federal Reserve probably within the next few weeks, but certainly by years end. Bernanke will have to do it in a more round-a-bout way though, because a bold statement like that from the US will send massive shockwaves throughout the market. So what he'll probably say is something like "well, if we keep the purchase amount open-ended it will allow us to react more quickly and efficiently to the nations economic needs." but what he's really doing is setting it up so that once that initial announcement is made they wont have to tell us everytime they purchase bonds.
