Global Policy Makers are Getting Desperate

From King World News

With gold rallying $40 off the lows, King World News spoke once again with the firm that is calling for $10,000 gold.  Paul Brodsky, who co-founded QB Asset Management Company, had this to say about the volatility and what he is looking for going forward in terms of money printing, “Well, certainly today’s action, with Papandreou posing the referendum to the Greek people, brings QE further down along the timeline.  We think central banks are keeping the banking system solvent even though French and German banks are getting weak.  We think, clearly, central banks are going to have to move more quickly than they thought they would have to.  So we expect QE3 and whatever else might follow on from that to be coming sooner than we did yesterday, that’s for sure.”
Paul Brodsky continues:

Gold: The Last Man Standing in the Currency Horse Race.
The world's central banks are all competing to have the weakest currency possible...
THE WORLD'S currency markets right now are like a horse race – except a horse race nobody wants to win, writes Dan Denning, editor of the Daily Reckoning Australia.

The closer a currency gets to the lead (world's strongest) the more its jockey (the central bank) does to slow it down. Some of the horses have been run into the ground. And as we come down the home stretch of the competitive currency devaluation sweepstakes, it wouldn't surprise if one of the jockeys took out a shotgun and blasted his mount away.

Ugly Truth for the Fed: Inflation Pressures Here to Stay

For the Federal Reserve, policymaking these days is about deciding which of two imposing evils to take on — a decidedly moribund economy or the increasing threat that inflation poses to battered consumers.
For much of the slow slog out of the financial crisis, the Fed [cnbc explains] which is meeting this week and will issue its policy statement Wednesday, has managed to train its gaze on jump-starting growth through its various quantitative easing [cnbc explains] measures.
But recent indicators show that inflation [cnbc explains] is posing an equally daunting threat that further monetary accommodation from the Fed might serve only to aggravate.