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¥55,600,000,000,000
That's the total amount of money rumored to be injected by the BOJ in order to keep the Nikkei going for a whopping 4 days. According to PTI the BOJ has offered to add an additional ¥13.8 trillion today, to go with the tens of trillions already noted previously on Zero Hedge. If proven true, this would bring the total taxpayer backstop injected in just 4 days to $700 billion dollars! This whole exercise to keep the bank holiday away is starting to be just a little expensive to Joe Peasant.
From PTI:
The Bank of Japan has offered an additional 13.8 trillion yen (some USD 170 billion) to money markets, bringing to 55.6 trillion yen the total emergency funds made available by it to protect the nation's banking system from the negative impact of Friday's massive earthquake.
Japanese authorities admitted that the unusual step to drop water from twin-rotor CH-47 helicopters to cool overheating pool containing spent fuel rods would not resolve the multifarious problems confronting them. These rods are still radioactive and as dangerous as the rods inside the reactors.
"It's not so simple that everything will be resolved by pouring in water. What we are trying to do is to avert other problems, said Edano.
India's top diplomat in Tokyo said all Indian nationals in Japan are safe and that efforts are underway to facilitate the return of those wishing to leave the quake-ravaged region.
A group of Indians stranded in Sendai, one of the worst- affected in the quake and the devastating tsunami, have been moved to Tokyo, Indian Ambassador Alok Prasad said.
He said the Indian mission has set up a 24-hour helpline and has been giving regular updates on its website.
Reflecting the mounting international concerns, France has asked its nationals in Tokyo to leave the country or move south.
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ATM's not working doesn't help
Yea, people's ability to access 'walkin around money' for impulse purchases...that's the issue right now.
Yeah, like when they get the "impulse" to buy toilet paper. Idiot.
Yea, like that's not included in humanitarian aid you shit-for-brains. I seriously fucking doubt anyone in distress is worried about being able to PAY for basic necessities.
Jesus F. Christ...this place is just loaded with mega-stooopid jackoffs now.
I guess you've never been in a disaster zone. What kind of idiot relies 100% on reflief aid? There is ALWAYS material for sale, even when all the aid has dried up, or is otherwise unavailable.
Yea, sure, I can see people haggling over the price of a roll of fucking toilet paper during a disaster of this scale. Get a fucking grip.
I know it's difficult to admit you're wrong, but suck it up.
I am still not feeling the love here.
Hey honey, should we try to find shelter? I would baby, but, fuck, all I have is this $100 and nobody can make change cause the ATMs are out. Wish I could get some 20's. Oh well, we'll just die in this first world country. It's a shame.
I don't get the argument. Money is very durable - just ...use it... as Bernanke intended, and wash it off.
You sir are clearly a troll. An obnoxious, thread-hijacking, beat a dead horse with my obtuse nonsense troll.
You make a marvelous addition to that crew.
At this point, whatever amount the BOJ prints/injects is really immaterial. If you guys haven't figured it out yet, this is what is going to happen:
Japan is completely fucked - like the way they & Germany were post-WWII fucked. Now, it's not to say it's impossible to recover - it's just that all the jive talk & happy face shit has got to go. When the defeated Axis powers admitted reality and got down to business, it took around 30 years to experience the full effects of recovery.
Not 30 years (that would be 1975; Japan & Germany were booming by then) but the important point is those recoveries were primed by massive US support. No way that can happen again, and I seriously doubt that China will be extending a helping hand to the Japanese either.
To all of this I agree. I wonder a bit if they will go down in a fit of printing or simply capitulate. That's one of the things that you and I disagree about - I think Ben and Co will print to infinity and beyond...
what?, proper fucked?
Sorry to scab off of your early post.
"If proven true, this would bring the total taxpayer backstop injected in just 4 days to $700 billion dollars"
The Japanese government is willing to shit $700 Billion to prop up the goddamned markets for a few days, but cannot provide whatever vital resources are needed to a nuke site that's in the deep shit? And now they have a catastrophe in progress that's worse than a market meltdown? Thank god they shit money to protect the goddamned banks.
Give me 5 days, $700 Billion and a goddamned telephone and watch me shit some diesel generators, switchgear, diesel driven fire pumps, cables, and a whole fucking army of technicians and support staff and equipment.
But, we saved the banks. Fucking morons.
Do you guys get it now?
Ben must be over there showing them how things are done
Hopefully Fukushima is next on his itinerary. He can show TEPCO how to fix the the spent fuel rods.
Shima means island, so fukushima=
Fuk-U-Island
George Carlin, bless his soul, would have a field day with this.
meh
Its true. AP reported it today. $700 BIL is ... nothing! Costs nothing to print these days. Ask BEN, he knows.
ARE LIABILITIES CREATED BY THIS Printing? Or is it just pure printing from nothing?
$700Bn in 4 days makes QE2 look like child's play.
Oh well, at least now the Bernank has all the more reason to try and outdo the neighbours to the West.
Ben and Paul got 700 billion on 24 hours notice.
Carte Blanche
...and that was just so bankers didn't have to trade their Ferraris in for BMWs
When people need dollars we open swap lines, when people need yen does BOJ open swap lines. Is the fed involved in this $7000B?
how much is roll off vs. new injections?
The Bernank & William Dudley say "pikers."
Was that Brian Sack's 7 million share SPY sell at 126.80? Sure seems like an important trade to me. I think this market is going to open max down tomorrow.
LOL, oh my young grass hopper.
Yep... definitely down... "max" down even.
ROFL
If I recall correctly, last time ES futures went lock limit down going into the opening we got a huge upside move that day.
Guess they have to sell US assets. D'oh!
Doh!
But I'm still going long EWV..
On another note, SSO cut loose a bit over 400k also, that is definitely a sign of more pain coming for the ponzi.
I hope the U.S. has some Greek Islands to sell.
gold and silver, bitchezzzzzzzzzz
This whole thing is fucking ridiculous....
And shows just how fragile, insolvent and unsustainable the world's entire financial superstructure is.
Ben will have to top this shit...can't have the Japanese showing us Americans how to piss away money now can we?
I wonder if $700B could cover the rebuild cost of all the tsunami damage...unbelievable.
I was just thinking the same thing!! And oh- em, yeah, I'm gonna need you to go ahead and come in to work this Sat. OK?
Couldn't they ship some of those Dubai slaves over, it's not as if they're busy in the UAE anyway.
/Not that I agree with slavery.
Once they get to $1.0T, they will have exhausted the equivalent value of their USD FXR.
They passed that point already.
In the event they were to sell off their treasuries in volume, the drop would be precipituous.
No doubt sleazebag Geithner already had emergency meetings with the Japanese treason secretary equivalent. Emergency, as in the American emergency (Dollar collapse), not Japanese (minor nuclear cataclysmic disaster).
Japan will follow Ireland and create yen out of thin air with a few one-sided accounting entries. No liquidity? No problem.
that is the question i keep asking. is all this printing creating liabilities???
Is the Treasury's deficit spending creating real liabilities if the Fed is the ultimately exchanging notes for the the obligations the Treasury issued? Or are they just diluting the value of the outstanding debt/notes?
the tsunami moved your desk... to the other side of the city...
"It's not so simple that everything will be resolved by pouring in water. What we are trying to do is to avert other problems," said Edano.
Lol, kick that radioactive can a little further, would ya?
Have they tried dropping yen directly in the smoking reactor hole?
They should consider airlifting 85 Broad Street, New York and plugging that fucker up with GS headquarters. I'd pay a bit more in one-time-taxes to see that happen.
That would be neat, but you wouldn't catch any GS guys with such a maneuver. They're downtown.
hahaha - Now that is funny shit.
If you could see the picture that this put into my head...
+1 yes! hahaha. Let's try dumping helicopter loads of yen into the reactor.
Get it to about $750 and every one in Japan can begin paying it off for just $100 a month for 5 years at current JPY 5 year interest rates.
Breaking:
Radiation levels soaring across Japan.
I thought they had that under control
Source??
Source please??
Guys, ladies - I will post something soon with specificity.
Here is a targetmap that is excellent - look at the red areas (high concentrations) and then the 'under survey' areas. I feel strongly about what they're holding back:
http://www.targetmap.com/viewer.aspx?reportId=4870
There's some serious bullshit being spewed right now by Japan's Government, and it's a cruel joke if my thesis is correct.
I will put this quote out there for right now, and let you surmise and you're free to agree or disagree with me about what I am seeing here:
Japan: US nuclear reg chief says radiation levels "extremely high"aka "yes".
This is where those with finite money get swamped by those with infinite "money" creation magic. Suddenly "money" is a joke. Hyperinflation on the way?
In 1980, Nelson Bunker Hunt said "A billion dollars isn't what it used to be."
He's 85 now... I wonder what he thinks about the trillions getting tossed around. Goodness.
he's probably out in the woods chopping up some trees.... money is a scam
The BOJ is going the same way of the fed as is the same way of the dodo bird: extinct.
What a fucking utter and total sham this entire financial system has devolved into.
I'm tapping out before it gets ugly again.
What does it say about the dollar if the Japanese can create and dump 56 trillion yen into the market and still have their currency rise?
it says goodbye safe-haven-dollar...but you won't hear that on CNBS for certain.
It says carry trade unwind.
The Yen will then crash when the unwind is done.
radioactive cat bounce
It says everyone significant is in on the scam.
Hmmm.....nearing the amount of their UST holdings. If you save for a rainy day and then it rains, isn't it time to use some of that savings?
No, this is keynesianism
They look at the economy in a lineir way, to them, the economy is a train you have to keep on the tracks. There was a few pieces of track missing ahead, now its fixed.
Hard times. Hard choices. The fluffy world of illusion premised "moderation" has been demolished.
Wow, $700 bn. Should ECB print this amount all eurozone problems are over.
The fed needs to sell bonds and contract the money supply. You need to have the dollar appreciate to prevent a complete carry unwind. You're not going to get this done with BOJ interventions. If they don't, just expect a continued sell off in everything owned by the Japanese. You can buy yourself another 3 years of reserve currency status if you contract now.
So pretty soon you are talking real money.
Theres so many zeros in that number,it looks like a row of tires at a tire shop.
000000000000000000000000000000000000000
It's seriously some SICK FUCKING SHIT to divert the money to EQUITIES instead of to the people. I mean, you have to be one seriously ghoulish mother fucker to try to prop up a stock market or even worry about that right now.
Since when would a bankster give a F about people?
Well, in theory, the BOJ is a national...oh fuck it, they are scum sucking shitheads...I really agree. It's fucking deplorable.
They did back in 1789.
20:39 16 MAR 2011
(AGI) Washington - USA: "lethal doses" of radiations are leaking out from the Fukushima nuclear plant in Japan. Gregory Jaczko, who chairs the US Nuclear Regulatory Committee, launched the alarm. "It would be very difficult for the local workers to approach the reactors", he added. "The radioactivity doses could very soon turn out to be lethal". . .
thats bullshit.
It is only leathal if you touch it or eat it
the total taxpayer backstop injected in just 4 days to $700 billion dollars! This whole exercise to keep the bank holiday away is starting to be just a little expensive to Joe Peasant.
The Japanese, the lucky ones who manage to avoid radiation poisoning, will regret putting so much trust in their government.
First in trusting that they should "stay indoors" and not "breathe the air" if they are just outside the evacuation zone of 14-miles.
Then in trusting the yen as a store of value. Fiat currency is never a long-term store of value. Now, fiat currency is not even a short-term store of value.
This site is degrading into a carnival barker meeting point. Lots of hot air and lots of unsubstantial wishy washy reports. WTF cares how much JPY has been offered by BOJ, if 4 reactors are about to cause havoc?????
Because the BOJ should be SELLING assets like hell to try to build a war chest for reconstruction and aid to the citizens and NOT BUYING and bailing out the stock market.
Is that clear?
No, MrTrader... I'd say your bold type and numerous question marks have done it.
Because the Bank of Japan just completely FUCKED over the Japanese people to prop up an equities market that will be DEAD in a week to let insiders get their money out and into other safe havens (my opinion)
Yes, yes, yes...but, you have to ask yourself...Do the little people actually count?
because these days the amount of government printing is the only truth you can get.. all their talk are lies...
$ 175,000,000,000/day ...
.. and the truth is still out there
Had the box muted while Cramer was talking about the "postponed rebuilding opportunity" (yep, that's why I muted it) and noticed how much he exaggerates his arm movements and it reminded me of my childhood and ...
... wait for it ...
BOZO!!!
Maybe a renegade tattoo artist could permanently apply the clown make-up under a "full disclosure" concept?
NHK has spent the last 4 hours building their story line for the day (yea, I've worked campaigns)
"All is well"
barliman
...useless and unnecessary. Doesn't everyone know that the stock market is *SUPPOSED* to fall when you have a massive set of catastrophic events???
Keeping the markets floating and rising is unnatural and undermines confidence.
Heresy! The markets can never, ever be allowed to go down! </sarc>
Funny how people forget the thereputic value of pain, immaturely thinking that instead, it is to be ignored in hopes that what is causing it won't be noticed.
I tell people the same thing about depression. When things are truly fucked, you should be depressed. Especially when it is driven by the mental mis-alignment known as cognitive dissonance. The only alternatives are to go nova, and have a nervous breakdown, attack the false beliefs that brought about the crisis in the first place, or go numb until you can't ignore it any longer.
Sure, the best course is to attack the false beliefs, but until one is able to, going numb is the natural way to cope.
Ponzi Prozac Nation
Just on Spiegel: 'Die Anlage ist Schrott - ob die da noch Leute verheizen oder nicht', sagte der Präsident der deutschen Gesellschaft für Strahlenschutz, Sebastian Pflugbeil, dem Nachrichtensender n-tv
google translated: The plant is scrap - whether the people burn there or not, ' said the President of the German Society for Radiation Protection, Sebastian Pflugbeil, the news channel n-tv
Gotta love a straight talking German.
That money will evaporate faster than the steam off the fuel rods.
Here we go, Rose...
Why don't they just announce stock prices in the morning like the catch of the day on the menu?
Tyler,
Is this massive monetary injection in Japan being done to prevent derivatives from tripping all around the world?
I wonder when the great R-E-S-E-T button will be pressed.
>>I wonder when the great R-E-S-E-T button will be pressed.
About a week
Good call Johnny Law
Thats the most lgical explanation
Cherenkov blue swans are flying...
japan must have the fastest laser printers in the world...benocide must be jealous
Remember, Chernobyl ruined Russia and they have never recovered......
Don't you mean oligarchs who ruined Russia? The same oligarchs who have made Russia one of the top oil and gold producers in the world?
Chernobyl is just what they blame it on.
that 700 billion keeps popping up..I wonder wazzup
It was a number that Hank Paulson thought looked good for public, so hey, better not let it go to waste. Big enough to look serious, while small enough to keep the people from going, "OMG, WTF?"
and gold and silver did nothing today...this is getting sureal.....economics is not working right now...I think I am really going to get trashed tomorrow on St patrick´s Day....and try to forget about it...a little head in the sand
It would be easier for my head if Japan did a reverse split on the Yen.
Tis but the push of a button in Bama Bucks!
It might help the masses TD if you termed it in more easy to understand figures, as in how many ipad 2's that could buy.
Nikkei looks like it will take out recent lows. Is there no humanity left in this world. I can't believe institutions can prey on the misfortunate like this.
I would like to see what the average income in Japan is in yen then compare to their current debt plus the new crisis/stimulus/QE money they are doing. Hard to convert their numbers into anything meaningful. Then I would wonder what the average tax paying citizen thinks. I know they are already over 200% GDP in debt before this crisis.
The next thing is if Ben Bernanke will support the yen with dollars by buying up yen or a currency swap with Japan or even continuing to run the dollar down. Most commodities are priced in dollars so a weak yen should make it harder to rebuild and borrow.