http://www.financialsense.com/fsu/editorials/petch/2007/1203.html

"...As for precious metals, if they are the inverse of the $, although there could be a bounce at any time, make no mistake about it – the world has no alternative but to continue bailing out the US consumer for as long as possible. This is because when the music finally does stop, meaning the global trade mechanism which has been sponsored by ever increasing quantities of fiat currencies finally feels the weight of water, the prognosis is not a pleasant one, that being deflation. So, although you may hear some complaining by those on the receiving end of a crashing $ now, I can assure this chatter would stop abruptly if global stock markets appear destined for a slide, which happens to be the case at the moment. This means that in terms of our Catch-22 predicament discussed above, when put to the test based on historical precedent one would be wise to bet on a falling $, and of course the $'s antithesis, which is gold."