Just as a general comment, people seem to be ignoring the fact that the new Emissions Trading Scheme enacted by the US, and potentially in Australia, will lead to overall price inflation.... this could be the hidden reasoning why people like John Paulson & co are buying gold as a hedge against against inflation.... any type of carbon tax will inevitability lead to inflation, irrespective of the other broader concerns about recession and global economic stagnation.
putting it more plainly, gold is a hedge against the impact of carbon taxes....
