Bernanke has chosen to do the worst thing possible and that is an open ended qualitative easing. If you have savings or an IRA, expect to lose your shirt since interest will be held low and hyper inflation will lower the value of every penny you have. I suggest looking up the Weimar Republic in German history to get an idea of what is going to happen now.
Stock up on foods and goods while you can, your purchasing power is going to decrease very quickly now. Buying ammo would also be prudent since it will be going sky high after this news is absorbed.
Incompetent and suicidal are the only words I can find to describe this development. It looks like a desperate bid to influence the election.
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