Fed chief Ben Bernanke retires in January 2014. Many hope that this will put an end to the era of cheap money. However, that may not be the case. The US Fed itself may not want to take Bernanke's legacy forward. As it is, his colleagues at the Fed have not always nodded in agreement with his cheap money policies. The Vice Chairman of the Fed, who may succeed Bernanke, is known to be dovish central banker.

However, it seems that there are many more central bankers around the world waiting to fill in Bernanke's shoes. Bank of England and the ECB have already committed to keep cheap credit flowing. But the Governor of Bank of Japan takes the cake. Plagued by over a decade of economic stagnation, the newly elected Japanese PM has virtually promised the most expansionist monetary policy. It is therefore only a matter of time before other central bankers take the mandate of printing money from Bernanke. For those of us worried about inflation and devaluation of currencies, parking small amounts of money in gold is the only redressal.