us$1.3 trillion dollars likely on the way

"EU Said to Mull Wielding $1.3T to Break Impasse

European governments may unleash as much as 940 billion euros ($1.3 trillion) to fight the debt crisis, seeking to break a deadlock between Germany and France that is forcing leaders to hold two summits within four days.

Negotiations on combining the European Union’s temporary and planned permanent rescue funds as of mid-2012, while scrapping a ceiling on bailout spending, accelerated this week after efforts to leverage the temporary fund ran into European Central Bank opposition and provoked the French-German clash, two people familiar with the discussions said. They declined to be identified because political leaders will have to decide.

That option may be one way out of the impasse between Europe’s two biggest economies Finance ministers meet in Brussels today from about 2 p.m. to lay the groundwork for an Oct. 23 meeting of government leaders that had been the deadline for a solution to the debt crisis. A summit for Oct. 26 was set yesterday after Germany and France said the EU needs more time to seal a “global and ambitious” accord."

The full article is at http://www.bloomberg.com/news/2011-10-20/eu-said-to-mull-wielding-1-3-trillion-as-franco-german-discord-mars-talks.html

My comments:

As to be expected, every time gold corrects, this forum and elsewhere has been inundated with emboldened gold bears calling the end of the gold bull - why I saw a post suggesting gold will be US$1000 in a few months. lol

The gold bull will not end any time soon while bail out after bail out is taking place and trillions of dollars are being created imo.

This is the stuff of gold bull markets, not gold bear markets.

Won't be too long in my opinion before the gold bears retreat, wrong yet again, back into hibernation in their dark caves.