If Ben Bernanke says tomorrow in any form that the Fed will jump off the fence and begin printing money again, the stock markets, which have already valued in hundreds of billions of dollars of easing already, might have a small bump over the next two days.
However, that will not be the significant story, as on Sept. 12, taxpayer funded and bailed out mega-bank Citi said that if the Fed Chairman pulls the level for QE3, then you must buy gold, and buy it hand over fist.
There is a strong view in markets that 1) the Fed have to do a big QE, given the expectations that have been built up, and 2) the added liquidity will have a marginal effect. Taken together this raises the risk that the assets that will benefit are those sensitive to liquidity, such as money substitutes and Treasuries, rather than assets that are sensitive to real business cycle expansion. - Zerohedge
Those 'money substitutes' are none other than the barbaric relic known as gold. You know, the very asset that Soros is selling his stocks to buy by the ton.