US Stocks Plunge, Dow Falls Over 300 Points As Fears Grip Market

**socal** · 08-09-2011, 01:52 AM

Gold did not fall because risk apetite, that is bullshit. It fell for one reason; central bank intervention. It is too obvious, look at the charts. The Jap and Swiss charts are when the banks openly announce currency interventions. It is not conspiracy. The Yen chart is exactly the same as the gold chart. Even the little candle stick down at the start.

**nostromo** · 08-09-2011, 02:02 AM

Originally Posted by socal

CENTRAL BANKS WAGING WAR ON GOLD AT THIS HOUR.

Take a look at the following chart and tell me with a straight face that this is NORMAL trading action. Any trader worth his salt knows this chart looks amazingly like a chart of a currency facing INTERVENTION PRESSURE from a Central Bank

The chart below is what is what open Yen intervention looks like

The cart below is what open Swiss Franc intervention looks like except this is the Euro/CHF not CHF Euro.

I am always open to ideas of when the euro crashes. I have my hand on the button to go short.

**baby maker** · 08-09-2011, 02:02 AM

2
Sept. 7, 2011, 1:11 p.m. EDT
Bernanke gets another shot to lay out QE3 options

By Steve Goldstein, MarketWatch
WASHINGTON (MarketWatch) — With an economy barely growing and fiscal policy constrained by gridlock, Federal Reserve Chairman Ben Bernanke will get an opportunity Thursday in Minnesota to lay out what the U.S. central bank can do to revive the economy.
Of course, Bernanke had that opportunity just two weeks ago at an even-higher-profile event, the Fed’s annual gathering in Jackson Hole, and basically ignored it. He revealed for the first time that the upcoming September meeting will be for two days rather than one, and said that the Fed “is prepared to employ its tools as appropriate.”

But otherwise the world’s most powerful central banker largely kept quiet on what the Federal Reserve is considering in the face of data showing, at best, a languishing economy. Bernanke’s two key allies on the Federal Open Market Committee, Vice Chairman Janet Yellen and New York Fed President William Dudley, also haven’t shown their cards of late.
Vincent Reinhart, a former director of the Fed’s division of monetary affairs and now a resident scholar at the American Enterprise Institute, said the key question isn’t so much whether Bernanke believes the Fed has the tools to act — he does — but his view on inflation.
“The last characterization was that inflation was around its goal,” Reinhart says. “The critical piece of information is does he move off the last announced characterization of inflation risk, because that sets the stage to be able to do something.”

But because of Bernanke’s preference for not “front-running” the rest of the Federal Open Market Committee, he may also refrain from giving clear QE3 hints at the Minnesota speech, due for release at 1:30 p.m. Eastern. If Bernanke were to keep his powder dry, he would set the stage for the Sept. 20-21 meeting to be less an event to take action and more of one to hint at future activity, Reinhart said.

Despite Bernanke’s quiet stance, the minutes of the Aug. 9 meeting show three options under consideration: swapping shorter-maturity government securities for longer-dated ones, buying more bonds, and reducing the interest rate paid to private lenders for the reserves they park at the central bank.

The swap idea seems to be gaining traction, in part because it won’t draw as many howls of protest politically that outright bond purchases would encounter, and also because inflation hawks who fear the size of the Fed’s balance sheet would be less likely to oppose an operation that doesn’t change it.
And some Fed watchers think it will pack some punch. Economists at Goldman Sachs say selling Treasury securities that mature over the next two years and buying government bonds that mature between 10 and 30 years would be the equivalent of up to 90% of what’s called QE2, which was the purchase of $600 billion of bonds between November 2010 and June of this year.
That said, the Fed may not want to commit to such a move, at least not right away.

“It is in the Fed’s interest to milk the anticipation effect as long as possible before launching any major new purchase program. Something symbolic, such as tilting the Fed’s reinvestment purchases toward longer maturities, would keep long-term rates low by sustaining hopes of a more ambitious program in future months,” said Lou Crandall, chief economist at Wrightson Icap.

Reinhart co-authored a study with Bernanke and Brian Sack, the New York Fed’s point man on markets, on the Fed’s efforts in 1961 to buy longer-dated bonds and sell shorter-dated securities. (What was called “Operation Twist” didn’t work so well, though the three concluded that’s because it was too small in size to make an impact.)

“The irony about quantitative easing is that it is hard to quantify,” Reinhart said.
“Theory tells you it gets in the right direction, but really shouldn’t expect a lot from it,” he said. “More than anything, it would be evidence the Federal Reserve remains concerned about the economy and is willing to do something.”

Steve Goldstein is MarketWatch's Washington bureau chief.

Wed, Sep 7, 2011, 2:57pm EDT - US Markets close in 1 hr and 2 mins

2:56PM EDT: 11,402.87

263.57 (2.37%)
Dow Jones Industrial Average (^DJI)

**baby maker** · 08-09-2011, 02:09 AM

QUOTE
2
"Sept. 7, 2011, 1:11 p.m. EDT
Bernanke gets another shot to lay out QE3 options

Despite Bernanke’s quiet stance, the minutes of the Aug. 9 meeting show three options under consideration: swapping shorter-maturity government securities for longer-dated ones, buying more bonds, and reducing the interest rate paid to private lenders for the reserves they park at the central bank.

The swap idea seems to be gaining traction, in part because it won’t draw as many howls of protest politically that outright bond purchases would encounter, and also because inflation hawks who fear the size of the Fed’s balance sheet would be less likely to oppose an operation that doesn’t change it.

And some Fed watchers think it will pack some punch. Economists at Goldman Sachs say selling Treasury securities that mature over the next two years and buying government bonds that mature between 10 and 30 years would be the equivalent of up to 90% of what’s called QE2, which was the purchase of $600 billion of bonds between November 2010 and June of this year.
That said, the Fed may not want to commit to such a move, at least not right away.

“It is in the Fed’s interest to milk the anticipation effect as long as possible before launching any major new purchase program. Something symbolic, such as tilting the Fed’s reinvestment purchases toward longer maturities, would keep long-term rates low by sustaining hopes of a more ambitious program in future months,” said Lou Crandall, chief economist at Wrightson Icap.

Reinhart co-authored a study with Bernanke and Brian Sack, the New York Fed’s point man on markets, on the Fed’s efforts in 1961 to buy longer-dated bonds and sell shorter-dated securities. (What was called “Operation Twist” didn’t work so well, though the three concluded that’s because it was too small in size to make an impact.)

“The irony about quantitative easing is that it is hard to quantify,” Reinhart said.
“Theory tells you it gets in the right direction, but really shouldn’t expect a lot from it,” he said. “More than anything, it would be evidence the Federal Reserve remains concerned about the economy and is willing to do something.”

Steve Goldstein is MarketWatch's Washington bureau chief." UNQUOTE.

Wed, Sep 7, 2011, 2:57pm EDT - US Markets close in 1 hr and 2 mins

2:56PM EDT: 11,402.87

263.57 (2.37%)
Dow Jones Industrial Average (^DJI)

This can only be a double edged sword...
liquidy up...short term interest rates up...

**baby maker** · 08-09-2011, 02:11 AM

Sept. 7, 2011, 2:20 p.m. EDT
Gold down for second day but holds above $1,800

By Claudia Assis
SAN FRANCISCO (MarketWatch) -- Gold futures slid on Wednesday as investors showed a bigger appetite for assets considered riskier. Gold for December delivery /quotes/zigman/661658 GC1Z -3.16% lost $55.70, or 3%, to settle at $1,817.60 an ounce on the Comex division of the New York Mercantile Exchange. It was gold's largest one-day drop in two weeks, and the lowest settlement in a week and a half.

Wed, Sep 7, 2011, 4:15pm EDT - US Markets are closed

4:02PM EDT: 11,414.86

275.56 (2.47%)
Dow Jones Industrial Average (^DJI)

**OhOh** · 08-09-2011, 04:45 AM

Todays chart.

Small drop, due to german announcement re illegality of EU politicians subverting the EU Treaty, Swiss move to hold it's own currrency and the sheep making another "purchase" of devaluing stocks.

30 Day Gold Graph - still upwards trend.

All countries devaluing there own currency - depression getting closer - gold goes up.

Buy physical gold today.

**Agent_Smith** · 08-09-2011, 06:09 AM

Originally Posted by socal

Originally Posted by Agent_Smith

Interesting chart. Gold was fairly stable for centuries, but only in the last few decades has its "value" inflated wildly (and without any kind of justification). I suspect that the value of paper money used to buy gold has really been devalued rather than the metal itself gaining any real sort of value intrinsically.

Someone mentioned that it only costs 20% of its market value to actually mine the stuff so something fishy is definitely going on.

My prediction: Gold will fall back to $300 oz +/- by 2015 or sooner.

Mining costs have NOTHING to do with it. You have to find it first, it is rare.

You know nothing about gold or financial markets. Nothing you say has any credibility. I gave my prediction over a year ago when I said it could easily double and it has. I said it would close above $1800 at the end of the year 5 months ago and it will.

Rarity and usefulness are not the same thing. Gold is intrinsically worthless compared to other things, even other metals. Its value is driven by emotion and fantasy right now.

You are correct that I don't have any experience in markets or purchasing gold - those are casinos I don't wish to participate in - everything I've mentioned here is strictly my opinion based on history and human psychology (things I do have some knowledge on).

Your accurate predictions on the short term gain of gold is commendable and no one can take that away from you, but in the long term these prices cannot be sustained year over year. Look at the ratio of how much gold bought to value of necessities (gold:bread, gold:acres of farmland, gold:housing, etc) for the past 200 years and you'll see that this metal is fantastically overvalued at the moment. A continuation at this rate only guarantees catastrophe, or at least indicates one brewing.

At any rate, I admire your certainty on these things but keep in mind that everything goes in cycles and the trick is determining the peaks and troughs. It took over 170 years for gold to merely double in value, yet just in the last 40 years it has increased 45x that rate. What is the justification for that?

**Hampsha** · 08-09-2011, 06:10 AM

Socal, what website do you get your main information from prior to come here. Do you subscribe to that Gloom,Doom, and Boom report from Marc Faber?

Long analysis by Marc Faber on Bloomberg radio Aug 31.

**OhOh** · 08-09-2011, 07:23 AM

Originally Posted by Agent_Smith

You are correct that I don't have any experience in markets or purchasing gold - those are casinos I don't wish to participate in

Are you saving money in a bank, are you investing in a pension fund?

Both of these rely on the "markets" to "protect" your investment. The alternative is to "invest" in other "assets" property, land, jewels .......

**baby maker** · 08-09-2011, 07:29 AM

Originally Posted by OhOh

Buy physical gold today.

Quote ''You should buy at least half of your position today, not tomorrow but today. I would anyway..." Unquote Social.

Commendable gratuous advice....I wish I had the balls to advise others...in such a manner...with no knowledge or care for their personal circumstances.

Only to prove a point on a blog....a point that will come soon enough.

I haven't even got the balls to say Social is wrong....

but if he is right...
we all of us ...includeing Social...
will have more than the price of Gold to worry about.

**Butterfly** · 08-09-2011, 07:33 AM

the point is that Gold is currently in a bubble fueled by a low USD and other currency weakness, and of course the low interest rates

wouldn't surprise me that we find eventually some fraudulent scandals involving gold speculation, and that could be the end of it

currently Gold has all the patterns of a bubble or an organized fraud,

**baby maker** · 08-09-2011, 07:43 AM

Sept. 7, 2011, 8:32 p.m. EDT
Australia stocks rise as Europe news helps banks

By Sarah Turner
LOS ANGELES (MarketWatch) -- Australian stocks rose early Thursday, with financials higher as fears surrounding European debt eased. The S&P/ASX 200 /quotes/zigman/1653884 AU:XJO +0.78% rose 0.6% to 4,210.20 after German court approval for regional bailouts and the passage of an Italian austerity package. Westpac Banking Corp. /quotes/zigman/181294 AU:WBC +1.40% /quotes/zigman/181293 WEBNF +3.73% rose 1.1%, Macquarie Group Ltd. /quotes/zigman/482521 AU:MQG +2.13% /quotes/zigman/482522 MCQEF -18.64% advanced by 1.8%, and among insurers, QBE Insurance Group Ltd. /quotes/zigman/181160 AU:QBE +1.74% /quotes/zigman/181159 QBEIF -5.43% gained 1.7%, and Suncorp Group Ltd. /quotes/zigman/174127 AU:SUN +1.88% /quotes/zigman/3897698 SNMYY +14.31% gained 1.8%. Shares of Foster's Group Ltd. /quotes/zigman/287293 AU:FGL +0.21% /quotes/zigman/287292 FBRWF -2.72% edged up 0.1% after an Australian government panel chose not to act on claims by takeover suitor SABMiller PLC /quotes/zigman/244727 SBMRF -4.01% /quotes/zigman/244740 UK:SAB +2.13% that Foster's had submitted deceptive outlook and debt statements.

U.S. Stock Futures

S&P +62.75 / +2.90% Level2,228.00 Fair Value1,197.88Difference1030.12Data as of 7:59pm ET

Nasdaq +1.80 / +0.15% Level1,200.80 Fair Value2,223.52 Difference-1022.72 Data as of 8:17pm ET

Dow +10.00 / +0.09% Level11,425.00 Data as of 8:22pm ET

**OhOh** · 08-09-2011, 08:36 AM

The lawyers pronounce their judgement.

The politicians publicise selected quotations to the media.

The financial media tell people that the "right" course is to buy shares.

The markets rise.

Havent we seen those groups lying to us recently? QE3 without even electronic printing.

**Butterfly** · 08-09-2011, 08:42 AM

media are there to sell a story, so lies are within their mandate

you have to be pretty naive and stupid to believe at face value what financial reporters are writing, when most of them got it wrong, the other fews are trying an angle to make the "truth" more interesting

lies and manipulation is part of the media game, you have to accept it and learn how to decode what they are saying when they try to say something. Most of the time they are not saying anything, just trying an angle.

**baby maker** · 08-09-2011, 08:44 AM

Sept. 7, 2011, 9:19 p.m. EDT
Asian stocks extend gains

1
By Sarah Turner, MarketWatch
SYDNEY (MarketWatch) — Asian equity markets extended gains on Thursday, as some gloom over Europe’s debt woes and the U.S. economic growth eased.
After staging steep gains Wednesday, Japan’s Nikkei Stock Average /quotes/zigman/5986735 JP:NIK +0.86% rose 1% in early Thursday trading, while South Korea’s Kospi KR:0100 +0.86% advanced 0.6%, and Australia’s S&P/ASX 200 index /quotes/zigman/1653884 AU:XJO +0.57% rose 0.7%.
Click to Play

Dow rallies as mood brightens

Stocks snap a three-day slide as investors latch onto glimmers of hope in headlines from Germany, Italy and the U.S.

Global stock markets put in a strong performance on Wednesday, boosted by “expectations that more fiscal and monetary stimulus is on the way and some relief that European policy makers took constructive steps on fiscal issues,” said Yelena Shulyatyeva, a strategist at BNP Paribas.
Among the upbeat news, a German court came down in favor of proposed euro-zone bailouts, the Federal Reserve’s Beige Book indicated that the U.S. economy is still growing, and details emerged on the U.S. president’s job-creation proposals to be unveiled later Thursday. Read more about U.S. stock market gains.
With Federal Reserve Chairman Ben Bernanke due to speak Thursday, investors are also hoping for some clues about how the U.S. central bank intends to support the economy . Read Bernanke speech preview.
“Fedspeak is strongly hinting at further easing measures at the extended Federal Open Market Committee meeting on Sept. 20-21,” said Shulyatyeva at BNP Paribas.
As fears about Europe’s debt woes retreated, financials gained in Asia, with Aozora Bank Ltd. JP:8304 +1.70% /quotes/zigman/484225 AOZOY 0.00% up 2.2% and Mizuho Financial Group Inc. JP:8411 +0.90% /quotes/zigman/1500746/quotes/nls/mfg MFG +1.41% up 0.9% in Tokyo.
Macquarie Group Ltd. /quotes/zigman/482521 AU:MQG +1.28% /quotes/zigman/379559 MQBKY +4.72% rose 1.3% and National Australia Bank Ltd. /quotes/zigman/181126 AU:NAB +1.09% /quotes/zigman/181125 NAUBF -2.75% tacked on 1.2% in Sydney.
Auto makers also gained along with slightly better expectations for the U.S. economy, with Nissan Motor Co. JP:7201 +1.19% . /quotes/zigman/202910 NSANY +2.75% up 1.3% in Tokyo and Hyundai Motor Co. /quotes/zigman/189605 HYMTF -3.69% up 1.5% in Seoul.
As investors bought up stocks closely tied to economic growth, oil and gas companies also gained, with Japan’s Inpex Corp. JP:1605 +3.08% /quotes/zigman/527550 IPXHY +1.59% up 2.1%, and Caltex Australia Ltd. /quotes/zigman/180910 AU:CTX +4.85% /quotes/zigman/534768 CTXAY 0.00% gaining 4.1% in Sydney.

Sarah Turner is MarketWatch's bureau chief in Sydney.

U.S. Stock Futures

S&P +6.00 / +0.27% Level2,228.00 Fair Value1,197.88Difference1030.12Data as of 7:59pm ET

Nasdaq +0.20 / +0.02% Level1,199.20 Fair Value2,223.52 Difference-1024.32 Data as of 9:22pm ET

Dow -7.00 / -0.06% Level11,408.00 Data as of 8:53pm ET

**OhOh** · 08-09-2011, 08:54 AM

Originally Posted by baby maker

Commendable gratuous advice

Here are some facts. Times are BST

06/09/2011 23.30 - 05.00 Gold rose US$20 = US$3,000 profit - 5.5hrs
07/09/2011 23.30 - 01.30 Gold rose US$8 = US$1,200 profit - 2.0hrs
08/09/2011 23.30 - 02.30 Gold rose US$22 = US$3,300 profit - 3.0hrs

If you had also bet on the drops in price gold has gone down US$100 = US$15,000 profit.

I know it is only peanuts for you TEFL's, builders or industrialists but it keeps me in wine, woman and song.

Whether you find it "interesting" or "gratuous" (I'll take that as meaning "giving good advice fee of charge") it is for you to decide.

**baby maker** · 08-09-2011, 08:55 AM

Originally Posted by OhOh

The lawyers pronounce their judgement. The politicians publicise selected quotations to the media. The financial media tell people that the "right" course is to buy shares. The markets rise. Havent we seen those groups lying to us recently? QE3 without even electronic printing.

Originally Posted by Butterfly

media are there to sell a story, so lies are within their mandate you have to be pretty naive and stupid to believe at face value what financial reporters are writing, when most of them got it wrong, the other fews are trying an angle to make the "truth" more interesting lies and manipulation is part of the media game, you have to accept it and learn how to decode what they are saying when they try to say something. Most of the time they are not saying anything, just trying an angle.

What's to say...your both right...
everybody is fabricating the truth...it's called opinion..

..but it's the only game in town....everybody plays.

Stick to the math....and even that can lie...
ask Goldman...their Greek adventure.

**OhOh** · 08-09-2011, 09:09 AM

Originally Posted by baby maker

Originally Posted by OhOh

The lawyers pronounce their judgement. The politicians publicise selected quotations to the media. The financial media tell people that the "right" course is to buy shares. The markets rise. Havent we seen those groups lying to us recently? QE3 without even electronic printing.

Originally Posted by Butterfly

media are there to sell a story, so lies are within their mandate you have to be pretty naive and stupid to believe at face value what financial reporters are writing, when most of them got it wrong, the other fews are trying an angle to make the "truth" more interesting lies and manipulation is part of the media game, you have to accept it and learn how to decode what they are saying when they try to say something. Most of the time they are not saying anything, just trying an angle.

What's to say...your both right...
everybody is fabricating the truth...it's called opinion..

..but it's the only game in town....everybody plays.

Stick to the math....and even that can lie...
ask Goldman...their Greek adventure.

Thats three in agreement, possibly four if socal gives us the wink

**Butterfly** · 08-09-2011, 09:14 AM

Originally Posted by OhOh

Originally Posted by baby maker

Commendable gratuous advice

Here are some facts. Times are BST

06/09/2011 23.30 - 05.00 Gold rose US$20 = US$3,000 profit - 5.5hrs
07/09/2011 23.30 - 01.30 Gold rose US$8 = US$1,200 profit - 2.0hrs
08/09/2011 23.30 - 02.30 Gold rose US$22 = US$3,300 profit - 3.0hrs

If you had also bet on the drops in price gold has gone down US$100 = US$15,000 profit.

I know it is only peanuts for you TEFL's, builders or industrialists but it keeps me in wine, woman and song.

Whether you find it "interesting" or "gratuous" (I'll take that as meaning "giving good advice fee of charge") it is for you to decide.

not bad, which symbol is that ? is that Futures or Spot ?

**OhOh** · 08-09-2011, 09:16 AM

I would be happy to look at other "profitable" bubbles if you have any suggestions.

**OhOh** · 08-09-2011, 09:17 AM

Originally Posted by Butterfly

not bad, which symbol is that ? is that Futures or Spot

http://goldprice.org/live-gold-price.html

**baby maker** · 08-09-2011, 09:19 AM

Originally Posted by OhOh

(I'll take that as meaning "giving good advice fee of charge") it is for you to decide.

As you will....

....a lot of difference between talking about rideing a bucking bronko...
and actually rideing it...

not for the faint of heart or inexperience....certainaly not at this time...

not even sure I am good enough to hold on....

not to break the developeing goodwill....

************************************************** **************************************************

Hopefully toomorrow will be a payday....as I said wish I had your conviction...
perhaps I've been at it too long...to have such conviction.

Not today...ASX sitting pat...next event horizion the Fed 20/21 Sep....a long way off today..

U.S. Stock Futures

S&P -0.50 / -0.02% Level2,221.50 Fair Value1,197.88Difference1023.62Data as of 10:00pm ET

Nasdaq -1.20 / -0.10% Level1,197.80 Fair Value2,223.52 Difference-1025.72 Data as of 10:04pm ET

Dow -15.00 / -0.13% Level11,400.00 Data as of 10:01pm ET

**OhOh** · 08-09-2011, 09:29 AM

There are two buttons to press.

BUY

SELL

Just watch the screen and decide when.

Ticket : 11201274
Asset Type : Spread Betting
Market Name : Gold Rolling Daily
Stake :15
Action : Sell
Price : 1879.5
Market Expiry : 23/2/2015 12:39:00
Trade Executed : 7/9/2011 02

21

The above trade has closed/part closed the following positions:

This position was closed :

Trade No : 11200796
Asset Type : Spread Betting
Market Name : Gold Rolling Daily
Created : 6/9/2011 23

33
Amount : 15
Action : Buy
Price : 1872.8
P/L : 1005.00 (GBP)

Total Profit/Loss : 1005.00 (GBP)

**baby maker** · 08-09-2011, 09:44 AM

0Sept. 7, 2011, 10:31 p.m. EDT
Euro lower ahead of ECB meeting

By Virginia Harrison, MarketWatch
SYDNEY (MarketWatch) — The dollar edged higher against the euro on Thursday ahead of a meeting of the European Central Bank, which is expected to signal an end to its brief rate-hike cycle.
The euro /quotes/zigman/4867933/sampled EURUSD -0.26% slipped to $1.4056, from $1.4093 in North American trade late Wednesday, ahead of the central bank policy meeting.

Germany, bailouts and the Left

Germany's high court rules that the euro zone's 2010 bailout for Greece and subsequent aid granted through the euro-zone rescue fund is legal, but Chancellor Angela Merkel faces voter discontent over poor economy.

“The deadlock on Greece’s second bailout package, paired with the ongoing turmoil within the financial system, has put increased pressures on the European Central Bank to shore up the economy,” DailyFX analyst David Song said.
“The European Central Bank may continue to soften its hawkish tone for monetary policy, and the central bank may show an increased willingness to delay its exit strategy further as the region faces a slowing recovery,” Song said. Read more on the ECB meeting.
The Bank of England also holds its policy meeting on Thursday.
“While we think there is a risk for a quantitative easing (QE) announcement today, the Bank of England will more likely wait until November before proceeding, giving them time to downgrade their inflation forecast,” strategists at BNP Paribas said, adding that in the absence of the announcement of additional easing, the British pound will rally against the U.S. dollar.
The British pound /quotes/zigman/4867886/sampled GBPUSD -0.23% fell to $1.5950 during Asian hours Thursday, down from $1.5975 in North American trade late Wednesday
The U.S. dollar /quotes/zigman/4868099/sampled USDJPY +0.17% fell to 77.28 Japanese yen, from ¥77.36 Japanese yen late Wednesday. Japan’s current-account surplus disappointed in July, as exports shrank slightly but imports grew, government data Thursday showed. Read more on Japan’s current account surplus.
However, the dollar index /quotes/zigman/1652083 DXY +0.15% , which measures the U.S. unit against a basket of six rival currencies, rose to 75.575, from 75.489 in North American trade late Wednesday.
Federal Reserve Chairman Ben Bernanke was due speak later Thursday on the outlook for the U.S. economy and the possibility of further quantitative easing, his last scheduled speech ahead of the Federal Open Market Committee meeting on Sept. 20-21. Read analysis on expectations for Bernanke’s speech.
Attention will also be fixed on U.S. President Barack Obama’s plans to spur jobs growth, in his address due to be delivered later Thursday. Read a preview of Obama’s address.
In Australia, meanwhile, jobs growth slowed July, with the unemployment rate hitting a 10-month high. Read more about Australia’s jobless rate.
The Australian dollar /quotes/zigman/4867876/sampled AUDUSD -0.74% dropped after the weaker-than-expected jobs report, to trade at $1.0593 from $1.0630 ahead of the data.

Virginia Harrison is a MarketWatch reporter based in Sydney.

**OhOh** · 08-09-2011, 09:52 AM

Make the profit, bank the proceeds, buy physical gold.

UK HMRC does not appear to "tax" winnings as they dont want to refund "losses"

Beats chopping onions for Bht300 a day.

Thread: US Stocks Plunge, Dow Falls Over 300 Points As Fears Grip Market

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