Subscribe To
Posts
All Comments
Friday, 18 March 2011
Japan earthquake: the exodus of Tokyo
"We are evacuating Tokyo," she said. "We are going to Hiroshima because it will be much safer there." She and husband Toshi, 40, had packed a huge suitcase full of clothes for their daughters Kathy, seven, Karen, two, and Noa, one, and didn't plan to return for at least 10 days.
"The government is hiding what's really happened," Mrs Nakayama said angrily. "It is windy today, and if the wind comes south the fallout will reach Tokyo. We have to get out. My friends are all worried too and many of them are also leaving."
As she spoke an exodus of women clutching small children and large bags was taking shape around her. "We are adults, and maybe we would be OK, but for the children the nuclear effects will be terrible," Mrs Nakayama said.
At the city's Narita Airport a queue for departures snaked for 200 yards with people lining up three abreast.
Obama tells Americans: Do NOT prepare for radioactive fallout, just listen to your government
'In a truly incredible example of the complete disregard for the health and safety of the American people, President Obama today told Americans that they should NOT prepare for radiation from the possible meltdown of the Fukushima nuclear power plant in Japan. His exact quote: "The Centers for Disease Control and Prevention and public health experts do not recommend people in the U.S. take precautionary measures beyond staying informed."
In other words, Americans should do nothing other than listen to their government. Don't buy potassium iodide pills (even though the U.S. Surgeon General has already urged people to do so), don't fuel up your automobiles in case you need to evacuate California, don't store some extra food and water... basically, don't worry! There's no problem! Obama says so!'
Everybody Knows The Bernank Is a Joke
As YouTube and other digital media move beyond computer-savvy young people into the ranks of even stodgy businessmen, these subversive outlets become serious problems for the ruling elite. This trend is epitomized by the radical change in the Federal Reserve's image. In just a few short years, the Fed has transformed in public opinion from a mysterious, wise, and boring institution into a fascinating engine of corruption and comedy.
Quantitative Easing Explained
Libya offers cease-fire after UN no-fly zone vote
The cease-fire announcement by the Libyan foreign minister followed a fierce government attack on Misrata, the last rebel-held city in the western half of the country. A doctor said at least six people died.
Mustafa Gheriani, a spokesman for the rebels, said attacks continued well past the announcement.
"He's bombing Misrata and Adjadbiya from 7 a.m. this morning until now. How can you trust him?"
"Gold Set To Rally" - Goldman Expects Gold To Promptly Rise To $1,480
As we are experiencing a furious regime change, the sellside positional updates are coming fast and furious. The latest major recommendation change comes again from Goldman which has just reiterated its belief gold will reach its 3 month target of $1,480 shortly. Of course, after a Cramer recommendation to buy the metal, this is the only call for a higher gold price that should be of great concern to everyone. From Goldman: "We expect gold prices to rally toward our 3-month price target of $1480/toz, and continue to recommend a long gold trade. While the protests and threat to oil supplies in the Middle East and North Africa drove COMEX gold prices to a new record high of $1437/toz on March 2, the events in Japan have paradoxically sent gold prices back below $1400/toz despite the ongoing decline in US 10-year TIPS yields. Given the decline in US real interest rates, we see the recent retracement in gold prices as offering a good buying opportunity, and maintain our long gold trading recommendation as we expect gold to rally to our 3-month price target of $1480/toz."
Full report below.
Full report below.
Fed Confirms First FX Market Intervention In 11 Years As Effects Start To Fizzle
And just as the Fed confirms its first direct currency intervention since 2000 (who knew NYU interns could multi-task so well between stocks, bonds and FX, incidentally today's POMO is a lethargic $1-2 billoin monetization of TIPS), the USDJPY takes its first dip below 81 since the "Honda" Accord announcement last night. According to several sources the Fed spent 50 million in USDJPY purchases. Alas that will not be enough. And with the USDJPY continuing to leak lower, take back what we said about the multi-tasking efficiency of 25 year old FRBNY interns-cum-world tyrants in waiting.
The attached charts shows why the Honda Accord (as it has now been tentatively named) will need many more steroid injections, which according to Nomura have already cost the ECB at least $5 billion.
Perhaps it is time to ask why Japan (and the central banking cartel) has spent almost half a trillion dollars to preserve capital markets instead of giving that money to the millions of earthquake disaster victims...
The attached charts shows why the Honda Accord (as it has now been tentatively named) will need many more steroid injections, which according to Nomura have already cost the ECB at least $5 billion.
Perhaps it is time to ask why Japan (and the central banking cartel) has spent almost half a trillion dollars to preserve capital markets instead of giving that money to the millions of earthquake disaster victims...
Very low radiation detected on US west coast-sources
(Reuters) - Very low concentrations of radioactive particles believed to have come from Japan's Fukushima nuclear power plant have been detected on the U.S. west coast, diplomatic sources said on Friday.
We Are Off To The Races: BOJ Intervenes In FX Market, Sends Nikkei Surging As G7 Agree On Plaza Accord V2
And we are off. The JPYUSD is up nearly 200 pips as the Bank of Japan buys billions in dollars, using freshly printed Yen, following an agreement with the G7 which will likely see a new plaza accord to keep the Yen low despite ongoing repatriation. This follows earlier news that the BOJ will underwrite a ¥10 trillion in earthquake recovery bonds as Japan is now lurching from one monetization step to another. Keep an eye out for intervention aftershocks as the BOJ now can not allow the USDJPY to drop below 80 or it will be all over. This is what global reflation gone nuts looks like. On the other hand, if the BOJ fails to keep the USDJPY above 80 following this action, and the inflows of yen are far greater than anyone expected, most certainly the G7, then we have big problems.
JFK Died For This Speech
"Today no war has been declared–and however fierce the struggle may be, it may never be declared in the traditional fashion. Our way of life is under attack. Those who make themselves our enemy are advancing around the globe. The survival of our friends is in danger. And yet no war has been declared, no borders have been crossed by marching troops, no missiles have been fired."
Mike Krieger Asks What Is More Dangerous: Building Nuclear Power Plants On Major Fault Lines Or Allowing Central Bankers To Play God?
What is more dangerous, building nuclear power plants on major fault lines or allowing Central Bankers to play God?
Bernanke’s Ring of Fire. The horrific human and societal tragedy that has befallen the people of Japan over the past week has brought up many questions with few answers. One of the most frequent questions I have heard is why would anyone every build nuclear power plants on a major fault line that everyone knew would one day experience a nightmarish earthquake like the one that occurred last Friday? I am not going to try to answer that question although I think there are many reasons ranging from the fact that Japan is a nation short on natural resources like oil and coal to the fact that there is a strange aspect of human nature that causes us to repeatedly think we can overcome the forces of nature with our superior intelligence manifested in technological advancements.
U.N. Approves Airstrikes to Halt Attacks by Qaddafi Forces
UNITED NATIONS — The United Nations Security Council voted Thursday to authorize military action, including airstrikes against Libyan tanks and heavy artillery and a no-fly zone, a risky foreign intervention aimed at averting a bloody rout of rebels by forces loyal to Col. Muammar el-Qaddafi.
After days of often acrimonious debate, played out against a desperate clock, as Colonel Qaddafi’s troops advanced to within 100 miles of the rebel capital of Benghazi, Libya, the Security Council authorized member nations to take “all necessary measures” to protect civilians, diplomatic code words calling for military action.
Diplomats said the resolution — which passed with 10 votes, including the United States, and abstentions from Russia, China, Germany, Brazil and India — was written in sweeping terms to allow for a wide range of actions, including strikes on air-defense systems and missile attacks from ships. Military activity could get under way within a matter of hours, they said.
Bloggers, Hackers and Leakers: The Next American Revolution?
“The truth is like a viral infection that floods the mind and makes it intolerant of falsehood. Just as religion invades every thought process and gives a rebirth to newly-found reality, those awakened finally have a rock to build their foundation upon. No amount of doubt can ultimately sway those who are Aware of the truth. Those who remain unaware are tossed about by the waves of doubt, opinion, omission, obfuscation, and even outright deception. To be Awake is to be an intolerant fanatic, unswayed by the newest fraudulent “evidence” du jour.” -Zyll
Japanese Fallout May Hit Treasuries
Japan is facing two meltdowns in the wake of its devastating earthquake. The first, and more critical, is the meltdown at the Fukushima I Nuclear Plant, 150 miles north of Tokyo. Surely, this is the greater near-term threat. But long-term, another threat looms, having to do with the Japanese government’s response to the former.
As the fourth largest economy in the world, behind the EU, US, and China, any major setback in Japan likely will have widespread repercussions. Japan is also the third largest holder of US Treasuries, behind the United States and China. While it is too early even to assess the Japanese damage accurately – let alone to forecast the full implications – it is possible to see the potential for a meltdown of the US Treasury market and international monetary system.
Current estimates hold that the Japanese disaster has already lowered world economic growth by a full percentage point for the year.
Leaving aside massive international aid, a complete nuclear meltdown, or other escalations, Japan already will have to spend a massive amount of money to cope with the current disaster. This raises the question: from where will such an enormous amount of money come?
As the fourth largest economy in the world, behind the EU, US, and China, any major setback in Japan likely will have widespread repercussions. Japan is also the third largest holder of US Treasuries, behind the United States and China. While it is too early even to assess the Japanese damage accurately – let alone to forecast the full implications – it is possible to see the potential for a meltdown of the US Treasury market and international monetary system.
Current estimates hold that the Japanese disaster has already lowered world economic growth by a full percentage point for the year.
Leaving aside massive international aid, a complete nuclear meltdown, or other escalations, Japan already will have to spend a massive amount of money to cope with the current disaster. This raises the question: from where will such an enormous amount of money come?
Subscribe to:
Comments (Atom)