The dollar has really dropped like a rock in the past few days, it's breached 80 to the downside again. If the trend continues, it has got to start making at least some of those who piled into dollar denominated treasuries seeking a safe haven reconsider, and start looking for another lifeboat.

On top of that, the Madoff scandal must not be good for the credibility of US financial markets. A former NASDAQ chairman no less, running a vulgar ponzi scheme to the tune of $50 billion. I think anyone with investments in US equities has to be having second thoughts - was the whole market a giant ponzi scheme?

2009 looks like it could be very interesting, especially for gold!