Ben Bernanke’s British and European Union counterparts may be gearing up to pump more money into the global banking system, says Bloomberg.

Lloyds predicts King’s next step will be to accept more types of collateral for loans. Trichet will pump more money into banks, RBS forecasts. Such measures would take Europe’s two biggest central banks further down the path laid out by Bernanke this month.

There is a widespread concern that Bernanke and the Fed may be running out ammo to tackle the credit crisis. The Fed has already run through about 60% of the $700 billion in Treasury securities on its balance sheet. And it has coughed up a further $29 billion to bailout investment bank Bear Stearns.

“Wall Street’s banking industry is still an unpleasant place to work or invest,” says Stephanie Grimmett. “And the rest of the U.S. economy is still floundering to find a sustainable level, which means your money shouldn’t be in America right now. It should be somewhere else.”

So where do you put your funds while the American economy grinds slower? Horacio Marquez has some great ideas for you. The long-time trader and Oxford Club editor told Laura Cadden about the emerging markets that will provide a safe haven for investors in this week’s Smart Trading Action Alert.