http://www.financialsense.com/fsu/editorials/petch/2007/1226.html

"...As a matter of fact, and contrary to claims by Goldman Sachs asserting the reason the dollar ($) will rally next year is because credit markets will be improving, the bailouts abroad are accelerating to the point money supply growth rates in the Eurozone are now outstripping those in the States as ‘the race to zero’ ratchets up a notch or five. This is why the $ is in rally mode, and also why gold should not suffer as much as bearish speculators think at present. You see they are all looking over the deflation cliff, but what they fail to realize is that authorities still have the hyperinflation card to play. 

Some of you may be thinking the above ideas are ‘fine and dandy’, but with the reservation some empirical evidence to support this hypothesis would be better. And we could not agree more. So, we intend to do just that for you now, where the idea is to provide you with enough empirical evidence to make one feel comfortable about holding precious metals investments in coming weeks and months in spite of the fact deteriorating liquidity conditions and investor panic could erode prices considerably from current levels under the right conditions. What kind of conditions are we talking about? How about a good old fashioned panic, something we have not seen in quite some time as investors were lulled to sleep in this regard long ago with the protection of hedging related derivatives. Too bad these markets don’t work when the chips are down however, no?..."