Add to that unease the European contagion potential where many German and French banks have been selling their gold for the past five years to buy sovereign debt. We have noticed in our financial models that any time a government pays less on their Treasury bills than inflation, gold starts rising in that country's currency. Frank Holmes: Gold Is for Fighting Deflation, Not Inflation Source: Zig Lambo of The Gold Report (8/17/11) http://www.theaureport.com/pub/na/10608 Whether out of fear or love, everyone is running to gold, says Frank Holmes, head of investment firm U.S.