At first, I thought that the 5 Central banks offering 3 month "loans" in dollars to European banks was merely to quell markets and stabilize the Eurozone. Notice they do not say how much liquidity will be provided - I would guess it is an outrageous amount - 50 trillion within the year would my rough guess.

With Geithner involved I got to thinking - I know how he operates from TALF & TARP.... make it look like a "global" aid effort and routine business - when in actuality it is a U. S. Central bank initiative that will sap the USA tax payer for trillions. All the baloney about let them fail and no more bail outs is just that - it is bailout or complete collapse - they are the only two reality options at this point and Merkel knows it - So Germany will punt and let the US eat it all. And why not ? We swallowed all the U.S. Bank losses already and papered them over behind the scenes so nicely.

Well my conclusion is that this is "Global QE3" and will triple the 17 trillion deficit that the american people carry at this time within 1 year. Also, I conclude that this is a cushion move to allowing Greece to default. So my conclusion is that we will see Greece default within the next 10 days and the domino effect of cascading money defaults will be halted by this Amazon river of U. S. Central bank money (with token contributions from the other 4 Central banks).

Effect on gold will be that it will break free of their grasp and constant manipulation and go ballistic. So strap on your seatbelts for the wild ride. But do not mistaken this for good news... it is merely the beginning of the crippling collapse that will unfold in slow motion over the next 18 months. Hate to spread such good cheer.... but it is what it is.