Raoul Pal says he expects $ and gold going higher together, wich is breaking the normal decorrelation.

 

http://bawerk.net/2016/10/15/usd-ready-for-a-second-leg-higher-then-what/
 

 

…A massively overleveraged financial system is once again on the brink. All it take is a second leg higher in the USD and European banking is dead in the water with monstrosities like Deutsche Bank being one of the most interconnected institutions on the planet. Knock-on effects on the global economy will be severe as dollar funding dries up. The USD SWAP line between ECB and the Federal Reserve will quickly reach a trillion dollars and the newly elected US Congress will throw hissy-fits as they are essentially asked to bail out the international Eurodollar market.