What I don't get is if GS and the baker anal-ysts truly believe...

What I don't get is if GS and the baker anal-ysts truly believe that the iron ore price and other commodities will imminently collapse, why have they not shorted the A dollar. Surely with an imminent collapse of the commodity prices and the requirement for A dollars, the price will drop too? Instead it stays persistently high. Is this just a flight to safety? Recent movements in the gold price have proven/or will prove to be manipulative and yet people find it hard to believe the same games wouldn't be played in the iron ore space. It is interesting they have had more success with the smaller players than FMG, which is proving a bit more resilient than they expected.