The dollar just sold off, and silver and gold (especially gold) are trending bullishly on the day. In the long run it is still a race to the bottom between the dollar and Euro, but with their back up against the wall not only will the policy makers print, but they will lend.
What if they don't? Then Keynesian policy was wrong all along? System failure now? They will print, and lend, because they have no other option. Will they let the system crash and go to a gold standard now? No, that is in the cards for after the next election. They can not have Ron Paul as President, and if they let the system fail again now, that is what will happen.
The oilgarchs want four more years of the status quo, and then they will go to the gold standard. The still need time to fully implement their Police State.
What does this mean for equities? Not much. They may pair their losses in nominal terms, but really, what good is this?
If one cares to preserve their assets then the only real investment, besides investing in self (such as learning a trade) is to own gold/silver/platinum bullion. These assets define monie by monie in definition. They hold value in that they last forever, they are a means of an exchange, they are a unit of account as they are fungible, they are a standard of deferred payment because it is a finite resource.