Precious Metals Surge As QE3 Now Merely A Formality

http://www.zerohedge.com/news/precious-metals-surge-qe3-now-merely-formality

By the way, BTFD = buy the ****in' dip.  And QE3.0 = a 3rd round of quantitative easing.

Quantitative Easing is not the title of a bad porn movie.  It is an unconventional monetary policy where the Federal Reserve Bank purchases financial assets like mortgage-backed securities or US Treasury bonds in order to liquefy the financial system and to pin interest rates lower (in 10-year US Treasuries, for example).  The program allows the US Treasury to print USDollars so the Fed can purchase said assets.  Its intended effect is to stimulate the economy, although its long-term effect is questionable, if not downright detrimental to sustainable economic growth, as it creates more debt and is inflationary.

Synonyms for QE include debt monetization, deficit spending, stimulus spending, or our old favorites:
"creating money out of thin air" or "ginning up the printing press."  In reality, it's not even about printing currency.  It's a computer keyboard entry.