Dow plunged

Today is not the best day to buy. Tomorrow is. But only if the Dow continues its plunge. This is madness. Of course, there are financial troubles everywhere. The Europeans are largely to blame. Now there is the Chinese property bubble. The money is flocking to 'safe haven'.

The real safe haven is Switzerland but the government there is restricting the use of the Swiss Franc for currency trading.

The best news this AM is the fall from parity of the AUD. Our debt level is low. Chinese government has to act to prop up its financial institutions to bring stability to the society, and it has a large reserve of cash. While gold has also fallen today, it is most likely because it is the best performer and people caught short, have to sell it. There has been a floor of USD1700 per oz but now it looks like USD$1600 per oz. At that level, lots of our producers are still very profitable.