QE3 is on! Open ended stimulus to infinity! Gold pops higher!!!

[mamboni]

Fed Folds: Will Do Open-Ended MBS Buying, Extends Operation Twist


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Submitted by Tyler Durden on 09/13/2012 12:33 -040

Bernanke has acquiesced and is now the 4th branch of the status quo- and all is well in the world:

• *FED TO KEEP POLICY STIMULATIVE FOR `CONSIDERABLE TIME'
• *FED WILL ADD TO PURCHASES IF LABOR MARKET DOESN'T IMPROVE
• *FED DOES NOT SAY WHEN MBS PURCHASE PROGRAM TO END
• *FED TO BUY $40B MBS MONTHLY, CONTINUE `OPERATION TWIST'
• *FED TO BUY MBS, EXTENDS ZERO-RATE POLICY INTO 2015

To summarize:

• The good news: The Fed's NEWER, OPEN-ENDED and NEVERENDING QE is bigger, longer, and has a Retina display (however its battery life is far shorter).
• The bad news: The Fed has now confirmed it is merely a sad, political, self-frontrunning caricature of what a central bank should be.

more at: http://www.zerohedge.com/news/fed-fo...peration-twist

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