All down

POG is down; AUD is down; SPI is down.

But nothing is new. And if I hold a lot of stocks but desperate for cash, the first item I would sell off is gold. I don't know if that is the reason why POG has gone below USD$1700 per oz. The only good news is that it is still above USD$1600 per oz where a lot of my producers are still very profitable.

Europeans had got used to an affluent lifestyle based on an assumption that the continent has a superior economy. They still over-rate themselves. Service there is appalling for what you have to pay.

Australia has to be careful too as we riding on China's tailcoat. While the mines are producing what the world want, there is a finite quantity of it. Unfortunately, in Australia, the governments only plan for 3 year term. It is very difficult to invest in China or India; their markets are poorly regulated. All my investments there have turned out to be duds.