gold will not be used as a hedge?

this is pretty tricky and im suprised gold hasnt shown its face yet with the current position of the spy. where will all the money go? is this how they retain the value of the USD when most are expecting a decline in the price? could this spell trouble for those not investing in solid assets like the housing market? hopefully gold will go parabolic before then. liquidity is key to reviving a market. no liquidity then there is a massive buffer trying to jump start everything over again.