¥55,600,000,000,000

Tyler Durden's picture

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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max2205's picture

ATM's not working doesn't help

Boilermaker's picture

Yea, people's ability to access 'walkin around money' for impulse purchases...that's the issue right now.

LowProfile's picture

Yeah, like when they get the "impulse" to buy toilet paper.  Idiot.

Boilermaker's picture

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.

tmosley's picture

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.

Boilermaker's picture

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.

LowProfile's picture

I know it's difficult to admit you're wrong, but suck it up.

Vampyroteuthis infernalis's picture

I am still not feeling the love here.

Boilermaker's picture

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.

edwardscpa's picture

I don't get the argument.  Money is very durable - just ...use it... as Bernanke intended, and wash it off.

Tad Ghostal's picture

You sir are clearly a troll.  An obnoxious, thread-hijacking, beat a dead horse with my obtuse nonsense troll.

prophet's picture

You make a marvelous addition to that crew.

B9K9's picture

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:

  • The government is going to fall;
  • Debt service is going to be 'temporarily suspended' (read: permanently defaulted);
  • Oldsters are going to be cut-off - not turned out, but support payments will be "temporarily suspended" (read: permanently cancelled);
  • All foreign assets (um, that would be Ts) will be redeemed in order to garner critical capital resources.

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.

TeamAmerica's picture

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.

traderjoe's picture

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...

kita27's picture

what?, proper fucked?

SWRichmond's picture

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?

camaro68ss's picture

Ben must be over there showing them how things are done

DonnieD's picture

Hopefully Fukushima is next on his itinerary. He can show TEPCO how to fix the the spent fuel rods.

Sancho Ponzi's picture

Shima means island, so fukushima=

Fuk-U-Island

George Carlin, bless his soul, would have a field day with this.

jus_lite_reading's picture

Its true. AP reported it today. $700 BIL is ... nothing! Costs nothing to print these days. Ask BEN, he knows.

Alienated Serf's picture

ARE LIABILITIES CREATED BY THIS Printing?  Or is it just pure printing from nothing?

ZeroPower's picture

$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.

bob_dabolina's picture

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

prophet's picture

When people need dollars we open swap lines, when people need yen does BOJ open swap lines.  Is the fed involved in this $7000B?

SDRII's picture

how much is roll off vs. new injections?

TruthInSunshine's picture

The Bernank & William Dudley say "pikers."

jkruffin's picture

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.

Boilermaker's picture

LOL, oh my young grass hopper.

tekhneek's picture

Yep... definitely down... "max" down even.

ROFL

prophet's picture

If I recall correctly, last time ES futures went lock limit down going into the opening we got a huge upside move that day.

Id fight Gandhi's picture

Guess they have to sell US assets. D'oh!

homersimpson's picture

Doh!

But I'm still going long EWV..

jkruffin's picture

On another note, SSO cut loose a bit over 400k also, that is definitely a sign of more pain coming for the ponzi.

TruthInSunshine's picture

I hope the U.S. has some Greek Islands to sell.

weenus's picture

gold and silver, bitchezzzzzzzzzz

Shock and Aweful's picture

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?

Bill Lumbergh's picture

I wonder if $700B could cover the rebuild cost of all the tsunami damage...unbelievable.

sodbuster's picture

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?

 

EscapeKey's picture

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.

malikai's picture

Once they get to $1.0T, they will have exhausted the equivalent value of their USD FXR.

EscapeKey's picture

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).

Sancho Ponzi's picture

Japan will follow Ireland and create yen out of thin air with a few one-sided accounting entries. No liquidity? No problem.

Alienated Serf's picture

that is the question i keep asking.  is all this printing creating liabilities???

edwardscpa's picture

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?

dark pools of soros's picture

the tsunami moved your desk...  to the other side of the city...

cswjr's picture

 

"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?

Internet Tough Guy's picture

Have they tried dropping yen directly in the smoking reactor hole?

Debtless's picture

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.