Quantitative Easing
This from the July 12, 2010 issue of the Delaire Report...

With more than fifty percent of all bank reserves around the world in U.S. Treasuries and since most commodities are traded in US dollars, a collapse in the greenback would have serious global consequences. Whilst I do not see this happening, with increasing budget deficits the US government may have no other choice but to engage in further "quantitative easing," which is simply a way of saying increasing the money supply. And, the consequence of this will be a further devaluation of the green back which of course will be good for gold.