lostsoul I agree with jbmurc. Appreciation/depreciation of the Aussie relative to the USD will amount to little more than 'noise'. The USD is still the global reserve currency which means (in the short term at least) any further fear/crisis will result in a flight to safety (and I use the phrase sarcastically) straight into the USD and the Aussie will be under pressure.
It's going to be a long time before anyone starts looking at other real assets (by which I assume you mean other physical commodities) - it will be all about survival mode (government bills THEN gold and silver). I believe the type of structural shift you are talking about to be a few years away.
Besides we're all on fiat currencies anyway and it's an accident of history that gold/silver are quoted in terms of the USD. It should be the other way around!
I am reminded of a quote I heard recently - 'the gold standard may be dead but gold is still the standard'.
Cheers
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