I think people will buy US treasuries in slowdown. It is the perception of safe. All those 401K have one place to go. That is Treasury funds that pay interest. Even if it is low %, people will get out of stocks. Foreign investors will buy the treasuries too. That means they buy a dollar to then purchase the treasury.... I think that is what we are seeing now. And people are fearing a down cycle.
These guys think demand for silver will drop in industry.