The gold price (POG) action overnight in the IOUSA should be...

The gold price (POG) action overnight in the IOUSA should be causing cognitive dissonance for the mainstream who are not following the gold story let alone the "gold bug fanatic" story.
Why is that on the news, they always report the US$ POG and the A$ value in US$, but not the A$POG ???
While the mining industry is having various types of inflationary pressures and labour shortages, unlike the average " Joe Blow ", its being compensated by higher A$ gold prices !!
The pressure on the RBA to "go hard on inflation with aggressive interest rate policy" loses sight of important factors around interest rates.
For a start, crushing mortgages and business with higher rates at a difficult time in the business cycle and world events is counter productive.
BUT the effect of RBA interest rate rises lagging the IOUSA rises is to put some downward pressure on the A$, which is critical for our exports, as our main competitors currencies are depreciating. The one thing saving the more heavily indebted Australia is the current account surplus.
The idea that we should have a "strong A$" to enhance the purchasing power of Aussie touring overseas or buying on Amazon is absurd.
A weaker A$ will make Stralia a much more affordable tourist destination. The previous peak in the A$, killed off a lot of local manufacture.

In answer to Peri, yes, there are attempts to reduce gold's influence and its comparison to fiat currency, and for that matter, any alternative like a basket of commodities, because fiat currency by definition is the "paper" that you are forced to exchange for all goods and services.
Guess which nation prints the most fiat currency and then insists that all world trade use it ... and uses the JPM's of the world as their financial storm troopers. Russia, China and the likes of Brazil and other large economies are determined to rid themselves of the shackles of the IOUSA $, and gold backed currencies, is one of their fundamental strategies.
The war on gold will be way more protracted than the Ukrainian war, so I don't think it will impact gold mining investors in the short to medium term. The one thing that may cause the POG to drop is a 2008 GFC redux - The IOUSA loves market crashes .. they use it to kill off a lot of their debts, transferred to entities like Lehman Brothers, and then they print IOUSA$ for themselves, and then they " lend " them to heavily indebted foreign banks LOL who become unwitting "agents of the FED".
Remember, many second and third world country have loans denominated in IOUSA $ - so when their currencies crash, the cost of servicing these loans becomes astronomically larger to the point of default being the only option.
Having destroyed foreign currencies, they then "rescue them" by stepping in and buying key "distressed" assets on the cheap using the IOUSA$ they created .... nice racket ... makes the mafia seem benign .... with friends like the IOUSA who needs enemies ??? .... DYOR.