The US$ is back in the mud, the rest of the economy is deflating (and even the Fed is recognizing that), and Gold & Silver have gone vertical. Or have they? The Gold/Dow ratio hasn't gone anywhere... In fact, as the Mad Scientist points out, there has been only one market of late - everything is going up at roughly the same rate of change - it didn't matter what you went long... they all went up.
So far, Marc Farber is being born out... it is best not to deny what your own eyes are seeing. Could it be that we are witnessing the world move from the US$ to Gold as the de facto reserve currency? Time, and the price of Gold, will tell... Or will it? If that is true... WTF is up with the Bond Market?
Here's what I think... I think that the various central bank interventions and stimuli have caused so many distortions that this might not even be clear in hind sight.