Hoping the third time is the charm, the U.S. Federal Reserve voted on Sept. 13 to launch another bond-buying program, QE3.
Equity and commodity markets cheered the Fed's move. Stocks rallied and analysts raised precious metals price forecasts.
QE3 differs from the first two rounds in that it is an aggressive open-ended purchase program of $40 billion per month of mortgage-backed securities. The buying is slated to continue until we reach substantial and sustained improvement in the U.S. economy, which won't be a short-term achievement.
The program aims to lower long-term interest rates, stoke consumer demand and bring down the elevated unemployment rate.
But some opponents think the latest stimulus measure from Fed Chairman Ben Bernanke will fail to achieve any of that.
In fact, the QE3 doubters have a lot to say - and anyone with money in the markets right now should pay attention to what could happen.