There will be less availability of NEW credit. But the old credit/cash is what the Fed is most concerned about and tries to secure. No one will be allowed to lose their deposit in a bankrun. There is so much 'cash' out there, if only a fraction moves into gold, it will shoot to the moon. There is no need for new credit to make this happen. If only China moved a small fraction of its reserves (all HQ treasuries & cash) into gold, it would literally explode. Silver might lag behind gold, but it will not ignore moves in gold.