By Greg Roberts, The Age- April 16, 2013
Australian investors were left confused after $7 billion was wiped off the value of the sharemarket, taking the losses in two days to more than $22 billion.
The price of gold, normally considered a save-haven investment, is bucking normal behaviour by tumbling at record levels as sharemarkets also fall.
Events in the world’s two largest economies, the US and China, were cited as being responsible for the ASX’s woes.
US markets plunged by two per cent overnight amid worries about an end to monetary stimulus being discussed, along with the fatal bombing at the Boston Marathon.
Australia’s 0.46 per fall wasn’t as bad but that followed a 0.91 per cent hit on Monday.
Australia’s largest trading partner, China, reported weaker than hoped for economic growth so far this year.
Investors believed the US economy will suffer if it stops pumping money into the economy and are “pricing that future” now, according to CMC Markets chief market strategist Michael McCarthy.
There have been many big moves made against the cabal in the past week and more coming this week, according to multiple sources. In Japan, there have been a series of late night battles that have left a group of North Korean gangsters taking orders from Japan Mossad Chief Michael Green, and rogue CIA run by Kenneth Curtis, on the Run. As a result, Green and Curtis are in a state of deep fear, according to Japanese right wingers who claim to have been involved in the struggle. Ongoing lawsuits against the recent rigged elections in Japan are also keeping them awake at night.
