Ever wonder why your PM stocks are not moving along with the prices of the PMs themselves?
Here is a sentence that was burried in a paragraph half way through the article and cought my eye:

Gold & Currency Wars by Jim Willie CB, Nov 22, 2007
http://www.321gold.com/editorials/willie/willie112207.html
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The truth is that foreigners are dumping USTBonds, even as purchases of US corporate bonds are flat, all the while most FOREX reserves under management are diversifying OUT of USDollars.

To be fair, much US-based money is shifting from stocks to bonds.

An aside, obscure but important. The 2-year swap contracts build in a full 1% spread on the fixed versus floating contract. This speaks to huge distrust of banker assets, the absence of a flood of private sector money floating around the bond market. It also sheds further liar light on the so-called ruse of a Flight to Quality. This is discussed in more detail in the November Hat Trick Letter. >>

I suspected so but have not noticed anyone posting such an opinion.
It means that the US investor does not have the confidence in the stock market and has not seen sufficient moves to make it worth while to place the cash in stocks and take the risk. Until that happens most of the stocks will be in a holding pattern.