The USA is not an island and decoupling is highly likely to manifest in 2009 - sending asset prices up and sending the US into stagflation.
I'm not an expert, but if lots of money is printed with nowhere to go, don't you think gold would do very well in that environment? And don't you think China is likely to question holding all their foreign reserves in a country paying next to nothing for a return, especially when they are going to be pulling out of the US dollar to incentivize domestic consumption?
I don't think Weiss is taking into consideration likely US Dollar Weakness, forced lessened dependence globally on US consumption, and an environment where the only growing economies of the world are the ones with far too little foreign reserves in gold holdings. Gold does well in inflationary and deflationary environments.