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More US Fed money printing will flow on any weakness in the US economy or Stock market. The minutes of January's Federal Open Market Committee released Wednesday leave little doubt IMO that the US Fed is ready, willing, and able to print more money:

A few members observed that, in their judgment, current and prospective economic conditions-including elevated unemployment and inflation at or below the Committee's objective; could warrant the initiation of additional securities purchases before long. Other members indicated that such policy action could become necessary if the economy lost momentum or if inflation seemed likely to remain below its mandate-consistent rate of 2% over the medium run.

Shayne and I expect any weakness in the US economy or the stock market will be followed by more money printing by the Fed, which has some catching up to do with the European Central Bank.

In the past 6 months, the Fed's balance sheet expanded only US$60-B, while the ECB's balance sheet ballooned the equivalent of US$640-B.

What is more, we believe that the ECB will do another big cash-for-paper swap on 29 February. The ECB will accept credit card receivables, residential mortgages, leasing contracts, foreign currency loans, and other stuff as collateral.

That being the case investors should hold some hard assets as central bankers around the World try to outdo one another in bursting asset bubbles, and debasing their currencies.

So far this year, the S&P 500 is minus 3.4% in terms of Gold.

Paul A. Ebeling, Jnr.

Paul A. Ebeling, Jnr

Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.

Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels. www.livetradingnews.com