I expect the Aussie banks to fail due to housing markets in this country falling 30%+ starting late 2008 early 2009. I see gold as currently being in a transition period between being bid up on inflation fears due to falling US interest rates and a flight to safety scenario due to failing banks, I would expect to see banks runs in the US/UK starting late this year this should put the afterburners under the gold price. I cannot accept the logic that everything is OK with the aussie banking system when we have the most over indebted consumer sector in the world.
