258 billion wiped off bourse ... rush to cash , page-6

America 'jammed' us with their worthless CDO's and now they want to inflate their home prices so that their consumer stays solvent.

Heard 'Cramer' the other night refer to Australia as "morons" for being silly enough to buy this debt of Wall Street.

Now the USD will have to be devalued so that the internal US consumer thinks his home is still worth what is was in strict dollar terms. We'll all pay for that somehow or another, whether it is by reduced prices for our commodities in local currency terms or straight out losses/bad debts via our financial institutions.

Now the US Fund providers who sold us this crap wont refinance our bellweather property investors eg. Centro. Maybe our Banks have some worthless paper too.

My super is still in cash (thankfully) but i've got no idea where to put it now, was going to drip feed into the markets, but this could be a long road. Maybe we will see that amazing run in gold they've all predicted. As they say, there's always a boom somewhere. If so, I have 15000 NGF shares and an armchair......lol.