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All Mizuho ATMs In Japan Have Stopped Working

Tyler Durden's picture




 

Mizuho, the second-largest financial services company in Japan, has just locked out its customers from accessing their cash. Whether or not this is related to Zero Hedge reports from yesterday that the same bank is unable to complete ¥570 billion in transactions in unclear. What is clear is that we can only hope that those who need cash are calm and collected enough not to start a physical run on whatever bank deposit branches are open. From Reuters: "Mizuho Bank said on Thursday that all of its automatic teller machines (ATM) throughout Japan have stopped working. The bank did not immediately give a reason for the outage." One can only hope that the most recent ¥5 trillion injection was sufficient to keep the liquidity in the banking system online. Alas, should the Mizuho situation not be promptly fixed, we anticipate more injections from the BOJ before the night is out.

 

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Wed, 03/16/2011 - 21:10 | 1064416 Misean
Misean's picture

That ought to work out well.

Thu, 03/17/2011 - 07:12 | 1065798 oh_bama
oh_bama's picture

The BOJ is just stupid

In this situation, it requires heroic measures. they must come up with decisive, civilization scale QE to stop the panic and fight the disaster.

At least 1 quardillion yen guys. 10^15 if you cannot count the 0s. Otherwise who will be BTFDing anymore? sigh..

Wed, 03/16/2011 - 21:11 | 1064425 Cognitive Dissonance
Cognitive Dissonance's picture

Nothing will piss off a population like not being able to get to their money. It's one thing to debase it, another entirely to lock them out. Cue Godzilla type anger.

Wed, 03/16/2011 - 21:18 | 1064468 CPL
CPL's picture

Wait until this translates into libor problems in the backyard of US banks in around...two days maybe...China is pretty much fucked in a day or so...Europe...tommorrow.

We've seen this screen play 2007 in the late summer if anyone else remembers.

Wed, 03/16/2011 - 21:23 | 1064530 Cheyenne
Cheyenne's picture

That was before I started paying attention, though I'd noticed a lot more volatility on the NYSE by August 2007 for sure.

Can you remind me what happened then?

Wed, 03/16/2011 - 21:29 | 1064561 CPL
CPL's picture

http://www.voxeu.org/index.php?q=node/1188

 

It all went down like a card castle.  There was literally five hours to the end of the banking system that we use forever, hence the reason the federal reserves and central banks around the world started to pump money into the system.

It would have been complete and total destruction.  It wasn't the housing market that nuked the system.  It was the bank interloan system.  Borrowed money on borrowed money on borrowed money ad infinium.  10% of a withdrawl in the system was enough to do it then.

 

Since now all banks AND governments are tits deep in it by doubling the leverage in the system by printing money.  All it would take is 5%...which means Japan.  Hard workers and hard savers.  They pull out, it all comes down tommorrow.

Wed, 03/16/2011 - 21:45 | 1064652 Squid-puppets a...
Squid-puppets a-go-go's picture

yar. massive Libor spike means that the curtain has been pulled in the game of big banks lending money to littler banks. Banks stop trusting other banks to repay their loans. Everyone's fractional reserve pants are down and its time to scrabble for a chair before the music stops.

that's my only economic knowledge. Because I get all my information from crackwhore psychopaths from the the interwebs

Wed, 03/16/2011 - 22:12 | 1064810 CPL
CPL's picture

Remember...it's not a crack house.

 

It's a crack home.

 

Seriously though, 2007 was the pin being pulled out of the grenade, nobody understood what really happened until 2008 what actually happened, took a dive with the Official statement US housing being in the shitter in Nov (made a fucking KILLING with SRS).  Then it whip tailed like a rocket ship because of a magical black man.  Then S&P hit 666 literally (fucking Christain Fundies were all over that crap), then rocketship ride with the printing press running full tilt.  QE1 then QE2 then QE 2.5 and soon QE 3...then 4...and no and then.

 

Only thing that can stop the QE's is monitary collapse.  The shit turns into zimbabwe at that point.  Get paid daily and run to buy anything...just simply anything...doesn't matter if it's a stack of dildoes, potatoes, TP or aspirin.  In that situation, a service industry collapses. 

Physical goods are worth "something" because it's a hard asset.  but if you are trying to figure out what your time is worth...HA!  minimum wage is a dream, pie in the sky.

 

What would blow your mind is how would income tax be calculated in that situation?

 

It cannot.

Wed, 03/16/2011 - 22:47 | 1064993 mark mchugh
mark mchugh's picture

Obviously we'll have to go back to the dildo standard.

Wed, 03/16/2011 - 22:51 | 1065017 CPL
CPL's picture

Black Mombo = 2 rabbits = 4 torpedos = 20 pounds of pussy and ass.

Link related...it's 20 lbs of pussy and ass

http://andrealessi.tumblr.com/post/1721011797/conversatron-over-20-pound...

Thu, 03/17/2011 - 05:11 | 1065702 ironymonger
ironymonger's picture

Those all poweful Xtian fundies ... let's hope they don't have a GS account.

Wed, 03/16/2011 - 22:13 | 1064817 eddiebe
eddiebe's picture

Q.e.3 will come early.

Wed, 03/16/2011 - 21:35 | 1064599 Paul Krugman
Paul Krugman's picture

What happened in August of 07 is that the 4 or 5 biggest quant funds essentially blew up. They were the secret profit centers for investment banks for a handful of years before the blow up and almost lost all their profits in a few months. 

Wed, 03/16/2011 - 21:25 | 1064542 AUD
AUD's picture

Still not seeing any stress in money markets according to the RBA. Open market operations this morning show no change, completely different to 2007. If the RBA's 'clients' were having trouble meeting their obligations, the RBA cavalry would charging in.

I'm beginning to think that this is a concerted attempt by bond speculators to make a quick buck or Yen etc on an 'emergency' rate cut by timid central banks. So far the central bankers are playing hardball. Of course the nervous nellie share investors are nervously selling.

Wed, 03/16/2011 - 21:29 | 1064556 Misean
Misean's picture

Yeah. But something major happened.

I mean outside of the whole disaster thing, obviously.

Wed, 03/16/2011 - 21:36 | 1064607 AUD
AUD's picture

Yeah. Speculators are, at least trying, to make the price of their bond holdings appreciate by pushing central banks to 'panic' & lower their target rates. For me, this explains the strength in the Yen in recent days, you need Yen to frontrun the BoJ.

If there had been a disaster of the magnitude of Japan here, everyone would be running for the exits. Robert Mugabe would at last be able to unload his Zimbabwe dollars for something worse!

Wed, 03/16/2011 - 21:41 | 1064629 CPL
CPL's picture

There aren't enough bodies in the boiler rooms around the world to hold back bad math that is based in infinity.  LIBOR is the derivatives market.  Nothing else matters seriously.  The business of making money from money to build central banks to make money from money....etc...etc...etc...etc...see how reserve banking derivatives work?

 

Bob Mugabe just didn't have enough friends to help out.

Wed, 03/16/2011 - 21:53 | 1064694 AUD
AUD's picture

I dunno, you can fit a lot of zeros on a banknote.

Anyhow, I'm not saying its logical that you would want to frontrun the BoJ, since your profit is in Yen, which is the obligation of the Japanese government, which gets its revenue from Japan, which has just had a massive disaster.....but since when has this international monetary system been logical?

Wed, 03/16/2011 - 22:02 | 1064746 CPL
CPL's picture

Before 2007 and starting trading/investing as a hobby I thought all was well.  After the fat man opened the kimono and revealed his dangly bits I've been on the proposition that we are officially in a bizarro superman universe.

 

I'm canuck and I honestly don't understand how Canada can have a dollar on par to a glass of water.  I'm not say we don't have hard working people.  But 25% of our population works for the government.  11% is on welfare.  8% is looking for a job.

 

Those aren't good numbers, yet somehow we're the best looking horse in the glue factory.  I don't get it.  World relies on cheap resources and the Canadian dollar is a starting point.  Yet again, it's looking like 2007.  Strong Canuck/AUD dollar, heavy oil...market collapses yet again.  it's like the world has a permanent sense of disassociation of reality and history.

 

Totally bizzare.

Wed, 03/16/2011 - 22:17 | 1064840 DeeDeeTwo
DeeDeeTwo's picture

"trading/investing as a hobby" and using a murderer in your avatar makes you par for the ZH course. Another Armchair Mouth Breather, baby.

Wed, 03/16/2011 - 22:20 | 1064865 CPL
CPL's picture

Actually it's a left's wing murderer picking his nose.

 

https://picasaweb.google.com/lh/photo/dGDX_xi9-J2CHyXYUUzvfYjm9XP3i6Bx9s...

 

Photoshop ftw.  I seen the t-shirt wandering around years ago, despised it and added my own touches.  Please feel free to use my stencil.

Wed, 03/16/2011 - 22:22 | 1064866 AUD
AUD's picture

Yet again, it's looking like 2007. Strong Canuck/AUD dollar, heavy oil...market collapses yet again.

Look under the surface though. Here's a link I found but haven't had the inclination to check out in detail;

http://www.bankofcanada.ca/en/rates/index.html#price

Somewhere in there you'll find data on the BoC's open market operations. Here in Oz, the data is showing no similarity at all to 2007. In fact the RBA knew damn well all was not well in the money markets well before 2007 since they were rabidly inflating to try & keep money market spreads tight, the stockmarket up....

Of course they failed but now it's almost as if they are afraid of something. Their repo's, particularly in 'private securities', are more tight fisted than any time in the last decade. They are still into repoing 'general collateral' though, mainly govs, which brings me back to my first post.

Wed, 03/16/2011 - 22:36 | 1064932 CPL
CPL's picture

I would agree in part.  Both of our Govie's have been doing the same thing though.  Forcing as much of our countries resource base on to other people's books.  China for one, India for another.  I can't name a single large/medium sized entity in either country that hasn't been forcibly pushed into outside government hands. 

 

Let's put it this way.  Canada hasn't had an issue with softwood tariffs since Chinese companies ate...literally ate all of it in 2008 along with many of the mining resources.  My understanding in the Northern Miner, the Australian commodities isn't any more Australian than hockey is nor is Rugby and huge Canadian past time.

China though is bag holding ALOT of Japanese cash.  Somehow I'm guessing BoJ will sell it's own people down the river to paid, at least partially, the debt owed to an outside influence that could in theory have a million troops on shore in a day.  As a side suspicion I think it's one of the reasons the US ships hightailed it out of Japan on Friday night.

Wed, 03/16/2011 - 22:35 | 1064939 Double down
Double down's picture

What do you mean our dollar should be weak as the USD  It is clear as day, we got these guys on our side:

http://www.youtube.com/watch?v=w1RN3cYnY9k&feature=fvwrel

Wed, 03/16/2011 - 22:42 | 1064979 CPL
CPL's picture

You have it backwards.

 

The USD is as weak as the Canadian dollar.  the inflation of cost is being adjusted against the Canuck primary consumer.

Canada hasn't become "stronger", it's falling down at the same speed in valuation, only the commodities Canada produces (including Australia) are rising because of demand.

 

Let's put it this way.  Canada has to eliminate the gap in food production that we've lost in 10 year which is a decrease of 30% over all of EDIBLE foodstuffs.  Not the bagging of selling hay to horse tracks we've been doing or we're in big trouble.  Additionally lower the ERIOE on the oil sands from 1 barrel to sell for the 10 we have to mine to produce that one barrel on the oil sands site.

Wed, 03/16/2011 - 21:45 | 1064645 Misean
Misean's picture

Interesting theory. Thanks for that. I'll let that roll around in what's left of my mind.

Thu, 03/17/2011 - 02:37 | 1065601 Coldfire
Thu, 03/17/2011 - 03:15 | 1065631 Clancy
Clancy's picture

There were queues for salt in Beijing today.

Thu, 03/17/2011 - 03:49 | 1065648 Clancy
Clancy's picture

Correction. There is no salt available anywhere in China.

Table salt contains potassium iodate, etc etc. Beijing is saying there's no danger but the Chinese don't believe them lol.

Wed, 03/16/2011 - 21:20 | 1064495 Al Gorerhythm
Al Gorerhythm's picture

The cancer grows.

Filipino bank holiday (volantary)

http://newsinfo.inquirer.net/inquirerheadlines/nation/view/20110317-3258...

Wed, 03/16/2011 - 21:21 | 1064507 Wakanda
Wakanda's picture

We often equate money with sustenance.  Not much scarier than loosing that except maybe a looming radiation disaster.

Being pissed and scared will be a real test of Japanese stoicism.  They have been tough so far, but this may be too much.

Wed, 03/16/2011 - 21:22 | 1064515 knukles
knukles's picture

Wait.... is it a proactive decision by the bank to deny access to funds or a systems/other type of unintended problem?

 

Wed, 03/16/2011 - 21:25 | 1064531 CPL
CPL's picture

It's trying to stall LIBOR problems, nothing more.  aka runs on the bank thus collapsing the reserve banking system.

Wed, 03/16/2011 - 21:27 | 1064543 Wakanda
Wakanda's picture

What reserves?

Wed, 03/16/2011 - 21:32 | 1064574 Cognitive Dissonance
Cognitive Dissonance's picture

Wed, 03/16/2011 - 21:33 | 1064591 CPL
CPL's picture

LOL...+1000

Wed, 03/16/2011 - 21:41 | 1064625 Misean
Misean's picture

Ah, the old $1 bills become $1000 bills trick.

Wed, 03/16/2011 - 21:44 | 1064636 Wakanda
Wakanda's picture

Of course!  Thaaat reserve!

I've got the original edition in my game cabinet!  I feel much better now.  Back to regular programing.

</sarcasm>

Wed, 03/16/2011 - 22:08 | 1064794 mark mchugh
mark mchugh's picture

And of course, the top hat is nowhere to be found....

Wed, 03/16/2011 - 21:32 | 1064579 CPL
CPL's picture

The reserve is the eight other empty gas tanks that are magically created when you deposit one full gas tank?

Wed, 03/16/2011 - 21:33 | 1064590 Ahmeexnal
Ahmeexnal's picture

Shouldn't we ALL be withdrawing too?

Wasn't that the purpose of the campaign a few months ago?

TO BRING THE BANKS TO THEIR KNEES??

Wed, 03/16/2011 - 21:37 | 1064608 CPL
CPL's picture

You should have been actually storing your money in silver.  But its a bit late now.  If it happens like it should, in theory, you could use an inkjet to make money and it would hold the same value if LIBOR collapsed.

Except you would be legally entitled to burn the inkjet money...

 

It's the age old question, what if you threw a war and nobody came?  Is it still a war?

Wed, 03/16/2011 - 21:49 | 1064662 Ahmeexnal
Ahmeexnal's picture

I'm on silver already.

I'll get me some more tomorrow.

 

Wed, 03/16/2011 - 22:18 | 1064855 mark mchugh
mark mchugh's picture

I think too many people are comfortable enough with the status quo for that to have ever worked.  Maybe this will wake people up to the perils of feeding zombies.

Wed, 03/16/2011 - 23:19 | 1065165 Cognitive Dissonance
Cognitive Dissonance's picture

The problem is when the zombies feed you back just enough to keep you hooked, thus setting up a dependence just strong enough to make you question breaking the dependence.

Addiction applies to more than just alcohol an drugs. For most people hitting bottom is the first step, and often a mandatory step, to recovery. One must become desperate enough to consider everything and anything including everything you previously dismissed as impossible.

Thu, 03/17/2011 - 07:13 | 1065797 oh_bama
oh_bama's picture

@@

Wed, 03/16/2011 - 21:10 | 1064427 Misean
Misean's picture

Someone must have imploded in that forex mess.

Wed, 03/16/2011 - 21:19 | 1064499 CPL
CPL's picture

Yup...look at the boards.  All of them are pretty much "stalled"

Wed, 03/16/2011 - 21:27 | 1064545 Misean
Misean's picture

Unreal.

 

Wed, 03/16/2011 - 21:34 | 1064588 CPL
CPL's picture

Yup...click...then a bang.

Wed, 03/16/2011 - 21:28 | 1064548 tgatliff
tgatliff's picture

I agree... Someone somewhere is hurting pretty bad, but my guess would be that central banks will use this as a reason for them to continue their QE.  I think the central banks are monitoring this issue way too closely to let it get out of control, and previously demonstrated that they will do anything to stabilize a situation. 

I would think that when the "big" event occurs, it will be situation where the central banks are focused on one problem, and find a much larger domino event catching them off guard... Sovereign default or a major oil event due to instability in the middle east seem as likely targets....

Wed, 03/16/2011 - 21:10 | 1064429 I think I need ...
I think I need to buy a gun's picture

I still think this was a military government induced earthquake. Haiti and Indian ocean were practice......I think they can do it. The timing is unreal......

Wed, 03/16/2011 - 21:14 | 1064446 samsara
samsara's picture

Read this morning's UrbanSurvival.   Good piece by George on that point.

http://urbansurvival.com/week.htm

Wed, 03/16/2011 - 21:22 | 1064509 SDRII
SDRII's picture

Look at timeline of events in Japan beginning with the Okinawa basing debate last year, the NK incident, Kan winning PM, china/Japan trawler dispute over islands, Anti China sentiment helps stir up supprot for Kan who defeats Ozawa (who called for more stimulus and closer China ties), Ozawa indicted, DPJ sees major defections after Ozawa sidelined, Kan's Foreign Minister (former Transport) comes in with stauch Hawkish credentials on China, he resigned a few days before the quake on fundraising charges, his replacement first statement is to reiterate alliance creds with US, few days before quake undersec from state resigns after calling the Okinawans lazy and backstabbers....Quite a timeline of events

Thu, 03/17/2011 - 00:34 | 1065386 Hicham
Hicham's picture

Yeah but only see the timeline in retrospect because of the earthquake. Sometimes shit just happens...

Wed, 03/16/2011 - 21:18 | 1064478 Element
Element's picture

listen bud, geologists don't know how earthquakes work, no one knows what actually causes them, there are theories, many of them, I have published formal papers on their cause. I assure you, what the earth does is several dozen times more energetic than anything humans can muster.

I expect you don't understand the implications of what that means.

Wed, 03/16/2011 - 21:21 | 1064501 IrrationalMan
IrrationalMan's picture

easy just do what Christopher Walken was trying to do in a View to a Kill.

Wed, 03/16/2011 - 21:25 | 1064539 PeterSchump
PeterSchump's picture

I guess President Obama should start watching reruns of West Wing then, unless he already is.  Then he should stop watching them.

Wed, 03/16/2011 - 21:25 | 1064529 I think I need ...
I think I need to buy a gun's picture

maybe it wasn't "a traditional earthquake" what if they blow out the bottom of the ocean with something....just saying....the timing is unreal.

 

72 year economic bottom due within weeks/months

Wed, 03/16/2011 - 21:34 | 1064594 DRT RD
DRT RD's picture

Yea, looking at IBD's Nasdaq chart, there are five days of above average selling a month or so before the quake. That ain't granny selling her AT&T.  The market has a funny way of knowing things.  BTFD no, wait, BTFR.  

Wed, 03/16/2011 - 22:00 | 1064745 Element
Element's picture

er ... the ocean does have a fairly structurally secure 'bottom', it's called planet earth.

Wed, 03/16/2011 - 22:36 | 1064938 rich_wicks
rich_wicks's picture

er ... the ocean does have a fairly structurally secure 'bottom', it's called planet earth.

I'm not a subscriber to the idea that this earthquake was artificial, but I can say, it would be pretty easy to make an artifical earthquake.  You just detonate a nuclear bomb that is burried near a faultline and set it off.  We have nuclear weapons that you can detonate in orbit, that would annhilate the cities below them - 100 miles away.  It's just stupid what kind of weapons exist today.

WWIII would be short if it ever came to pass.  It would be suicide for everybody.

Wed, 03/16/2011 - 23:25 | 1065187 Element
Element's picture

The USA actual ran that experiment already, with a buried 5 megaton weapon, right over the top a major seduction zone in the Bering Strait right in the middle between Russia and  Alaska ... the shock raised a measured 25 foot high ground wave. That's a pretty fucking big artificial earthquake!

They did this specifically to see if they could trigger a major quake or at least get some 'after-shocks' to cluster in time and space in association with it in the coming weeks.

Mostly the US military were worried that as the atmospheric testing ban was coming, that going underground with tests, in Nevada, could trigger a massive quake in the US, so they had to know what would occur. So they found the most seismically unstable area they could find in US territory, with almost no one nearby to get killed, and put one of their biggest bombs on it (but just small enough that the fireball did not get through the ground's surface) and let her rip.

The astonishing this was - NOTHING HAPPENED! ZIP! NADA!

According to the 'elastic rebound' theory (that is still 'accepted' BTW), all sorts of seismic shit should have occurred - it didn't.

The next 5 weeks of seismic data in the area was if anything, quieter than usual, or completely unaltered from the usual regional patterns. It was incredible, it was like nothing had occurred.

The conclusion was inescapable, massive man-made shocks do not lead to earthquakes, on any scale, even in a highly-stressed and super-active seismic region.

I assure you, if it were possible to trigger a quake cluster from a nuclear weapon, this experiment would have unambiguously done it.

In other words, whatever causes quakes it definitely is NOT due to a nearby massive shocks occurring and changing the regional stress field. That is not it.

Hence, all the giant pot-holes in the Nevada desert today, as a result.

There is clearly another mechanism at work and we don't know what Earth is doing to make quakes happen. The standard theory about what triggers them is not correct.

Wed, 03/16/2011 - 23:29 | 1065210 ThisIsBob
ThisIsBob's picture

Was BP drilling anywhere near there?

Wed, 03/16/2011 - 21:25 | 1064534 Ahmeexnal
Ahmeexnal's picture

Are you familiar with the concept of RESONANCE?

I expect you don't understand the implications of what that means.

Wed, 03/16/2011 - 21:30 | 1064573 john39
john39's picture

something like HAARP can reportedly do it.  the dates alone are suspicious.  think about some of the big events in recent years... Haiti quake, on the 11th too....  911 anyone?  calling cards are there for those paying attention.  then there is always the illuminati card game... but hey, that's just a card game.  uncanny coincidences in those cards however.

http://theparadisereporter.posterous.com/japan-eq-1995-illuminati-card-game

 

Wed, 03/16/2011 - 21:42 | 1064634 Ident 7777 economy
Ident 7777 economy's picture

How? No one can explain the basis upon how it does it?

I mean, there is as much RF from all the TV and radio stations across the US and Canada ... yet, nothing substantive happens ...

Granted H. uses freqs form 4 thru 10 MHz or so, but so does my Icom 756Pro2 ...

Wed, 03/16/2011 - 21:44 | 1064643 fiddler_on_the_roof
fiddler_on_the_roof's picture

That card looks scary real. Even the nuclear plant on the background.
Interesting. I once saw the whole set of illuminati cards and they are frightening.

Wed, 03/16/2011 - 21:46 | 1064655 tgatliff
tgatliff's picture

So your saying mother nature has a bad sense of humor?

I think its pretty safe to say that the "terrorist conspiracy" you seek is right about your head.. The moon is will known to induce earthquakes.  It was at its farthest point on March 6th and is reaching its closest point on March 19th.   The combination only occurs once every 19 years... It will be interesting to see what other things mother natures has in store for us in the coming days..

Wed, 03/16/2011 - 23:25 | 1065193 Abitdodgie
Abitdodgie's picture

March 19th is the last day of the first night 

Wed, 03/16/2011 - 21:41 | 1064623 tgatliff
tgatliff's picture

Just something else to consider... Maybe it had a little something to do with the moon being at its closest point on March 19th?   The moon certainly packs allot more gavitational pull than anything man could ever hope to unleash, and it was well understood in advance that it could potentially cause issues..  I mean it is increasing the tides considerably already..

Wed, 03/16/2011 - 21:43 | 1064642 Ident 7777 economy
Ident 7777 economy's picture

On the other hand ... I buy the moon theories ....

Wed, 03/16/2011 - 21:55 | 1064703 CPL
CPL's picture

Super MOON!

 

Three planets lined up against earth.  Happens once every 1500 years folks...line up, tickets are in short supply.

Wed, 03/16/2011 - 22:08 | 1064796 Element
Element's picture

Yes, cavity resonance was one of the possible explanations for earthquake mechanisms that I formally proposed (and peer reviewed).

But that’s very different from asserting that humans can generate energetic precursor conditions, that is purely a fuction of the geological properties.

You can't bullshit me with that stuff, and you aren't getting anywhere BS-ing yourself with it.

Wed, 03/16/2011 - 21:31 | 1064566 Idiot Savant
Idiot Savant's picture

I think people that believe in HAARP induced earthquakes are fucking nuts.

When I was young, I never understood the Salem witch trials, and how people could be so ignorant. Now I see it before my eyes on a daily basis. I find it very scary, and sad.

Wed, 03/16/2011 - 21:49 | 1064661 gordengeko
gordengeko's picture

thats the beauty of being able to conduct rational critical thinking, you can formulate your own opinions based on sound open-minded thought.  wait, have you done that?

Wed, 03/16/2011 - 21:51 | 1064681 Ahmeexnal
Ahmeexnal's picture

Do you still believe the earth is flat then?

Wed, 03/16/2011 - 23:40 | 1065249 ThisIsBob
ThisIsBob's picture

Flat enough.

Wed, 03/16/2011 - 22:00 | 1064740 Squid-puppets a...
Squid-puppets a-go-go's picture

agreed. even if Harp had the capability to induce an earthquake - a 9.0? get real - maybe a 5 or a 6. perhaps more if placed perfectly within an existing faultline

 

but the other issue is, lets say harp can produce this 9.0 - whats the motive? you think Bernanke wants this volatility? you think the military industrial complex that might use harp isnt in lockstep with benanke trying to keep a lid on the economic demise of the US?

Wed, 03/16/2011 - 22:29 | 1064899 TheMerryPrankster
TheMerryPrankster's picture

You do know that even the earth has a harmonic resonant frequency and you do know that Nikola Tesla, the man that invented the ac power generation equipment and the ac motor was experimenting with broadcasting power and delivering it in designated long & lat through the atmosphere without using wires.

It is theoretically possible to induce a pressure wave using the ionosphere as delivery mechanism.

I don't have any direct knowledge that the HAARP mechanism is being used for such experiments, but I have no faith that elements in the government would not do such a thing. Any agency such as the CIA that would dose its own scientist with LSD and not tell them about, leading to suicide and possible murders, is likely to be considered as armed and dangerous. Just think what you could do with a trillion dollar budget and absolute secrecy.

 

Many people have questionable beliefs, but sometimes even the crazies are right.

Wed, 03/16/2011 - 22:43 | 1064976 Element
Element's picture

Many people have questionable beliefs, but sometimes even the crazies are right.

 

It's just that 99% of the time they aren't. A stopped clock is right twice a day, but it is not reliable almost ever.

Wed, 03/16/2011 - 21:10 | 1064430 samsara
samsara's picture

About a week or two away from that here I would guess.

 

Wed, 03/16/2011 - 21:11 | 1064433 Alcoholic Nativ...
Alcoholic Native American's picture

Maybe the U.S. can help out by air dropping crates of USD into Japan like they did in Iraq.

Wed, 03/16/2011 - 21:18 | 1064483 Seasmoke
Seasmoke's picture

Maybe Helicopter Ben can borrow one of those helicopters

Wed, 03/16/2011 - 21:26 | 1064538 Al Gorerhythm
Al Gorerhythm's picture

While he plays his theme song in the back of his mind.

http://www.youtube.com/watch?v=o1c4QZGQw5o

Beep, Beep!

Wed, 03/16/2011 - 21:13 | 1064442 gordengeko
gordengeko's picture

It's like these people are being exterminated, what the fuck.

Wed, 03/16/2011 - 21:17 | 1064482 floydian slip
floydian slip's picture

it will happen to all of us sooner or later

Wed, 03/16/2011 - 23:47 | 1065261 moneymutt
moneymutt's picture

yeah, now there are five locations with outbreak of bird flu...seriously, bird flue\....if Japan the richest, most organized, most cohesive, most technologically advanced country it in the world is falling apart, it is officially BAD...and how is this going to go down for the rest of us.

Wed, 03/16/2011 - 21:17 | 1064470 jerry_theking_lawler
jerry_theking_lawler's picture

from bad.....to worse.....

Wed, 03/16/2011 - 21:16 | 1064477 Seasmoke
Seasmoke's picture

Bank RUN (do not walk)

Wed, 03/16/2011 - 21:17 | 1064480 Bill Lumbergh
Bill Lumbergh's picture

Just a coincidence...LOL

Wed, 03/16/2011 - 21:19 | 1064484 bob_dabolina
bob_dabolina's picture

Is it possible that we can't contain this?

I'm starting to think that's the case

 

Wed, 03/16/2011 - 21:19 | 1064485 Long-John-Silver
Long-John-Silver's picture

Don't Japanese ATM's use Windows Software?

http://cdn.wn.com/pd/4d/23/1c22c8f1054d15f188e0b686d0db_grande.jpg

Wed, 03/16/2011 - 21:19 | 1064491 M.B. Drapier
M.B. Drapier's picture

Apparently this is the third day of problems with Mizuho's payment systems. Sounds like an intermittent technical glitch, but who knows?

Wed, 03/16/2011 - 21:21 | 1064511 IrrationalMan
IrrationalMan's picture

yeah the technical glitch is that they dont have the money. 

Wed, 03/16/2011 - 21:25 | 1064532 M.B. Drapier
M.B. Drapier's picture

Perhaps. I was about to add that the timing (9am until later in the morning on both the 15th and 16th) does feel a little ominous.

Wed, 03/16/2011 - 22:07 | 1064780 M.B. Drapier
M.B. Drapier's picture

There's due to be a press conference at 0400 GMT.

Wed, 03/16/2011 - 21:18 | 1064492 Boilermaker
Boilermaker's picture

I TRIED to tell you that shit happened!

What about the 10 financial firms demanding the TSE be shut down immediately??

Wed, 03/16/2011 - 21:33 | 1064593 Al Gorerhythm
Al Gorerhythm's picture

So did Ben. The Bernank has just released his latest advice to investors.

http://www.youtube.com/watch?v=TYgOlqinH7A&feature=related

Wed, 03/16/2011 - 21:20 | 1064505 bob_dabolina
bob_dabolina's picture
I am become death, the destroyer of worlds.

J. Robert Oppenheimer

Wed, 03/16/2011 - 21:31 | 1064570 Hulk
Hulk's picture

I am become death, the destroyer of worlds.

The Bernank...

Wed, 03/16/2011 - 21:38 | 1064611 Al Gorerhythm
Al Gorerhythm's picture

Damn, should have posted the above reply here.

Wed, 03/16/2011 - 21:25 | 1064528 jkruffin
jkruffin's picture

No one can get any cash, but you can buy all the worthless stock you want right?

Let me go to the bank one time, just one time and they tell me they don't have my money, and I guarantee you will see me on TV. 

People don't get mad enough about things like this. If you don't pay your bill, they are all over your ass and charging you fee after fee, but when you go to get your money and they claim they can't pay, everything is supposed to be forgiven right? BullSpit

Let them try that crap here in the U.S. again like they did during the depression. We will see.

Wed, 03/16/2011 - 21:29 | 1064564 Agent P
Agent P's picture

I've already seen you on TV...you're on Nickelodeon.  I'm more of a Disney fan myself.

Wed, 03/16/2011 - 22:31 | 1064909 eddiebe
eddiebe's picture

Agent, now that was funny! Hahahahaha

Wed, 03/16/2011 - 21:37 | 1064614 ziggy59
ziggy59's picture

its being done on a slow basis already. SGTbull07 (youtube) did a short vid a week or 2 ago. took him a bit to get his few 1000s of dollars. i had crap happen too- many people have...America is now becoming AmeriKa. 

Wed, 03/16/2011 - 21:25 | 1064540 jkruffin
jkruffin's picture

And who exactly would be buying Japanese stocks right now? Anyone? You have to be a complete idiot to have or hold any stock right now.

Wed, 03/16/2011 - 22:14 | 1064830 Advoc8tr
Advoc8tr's picture

Someone is .... just pumped it up 400 points from the open.   Can't win. Biggest disaster in decades with massive ongoing consequences, 10s of thousands dead, Trillions in assets destroyed, worsening radiation leaks ... and the fucking stock market surges at open.

Thu, 03/17/2011 - 02:52 | 1065618 fajensen
fajensen's picture

I shall be buying some after the dead-cat bounce is over and "the permanent bottom" is in. Give the nuclear fire a month or so to burn out, then I will see.

Thu, 03/17/2011 - 03:59 | 1065657 steveo
steveo's picture

Hey, that "electron money" i.e. stocks, is valuable stuff, buy and hold asset allocation....is the way to go.   JK

Wed, 03/16/2011 - 21:30 | 1064558 unclebigs
unclebigs's picture

How will the Sheeple buy Gold and Silver?  LOL!!!

 

 

Wed, 03/16/2011 - 21:36 | 1064602 Long-John-Silver
Long-John-Silver's picture

Lots of Japanese are exchanging Gold and Silver for YEN, and having no problem doing it.

Wed, 03/16/2011 - 21:32 | 1064587 undereducated
undereducated's picture

is this maximum pessimism?

Wed, 03/16/2011 - 21:34 | 1064598 Spitzer
Spitzer's picture

People can still spend their money thought, so WTF is the big deal ? no cash, just debit

Wed, 03/16/2011 - 21:41 | 1064604 Milton Waddams
Milton Waddams's picture

The final report from the Congressional Oversight Panel on TARP was released today.  Here is tidbit on the conflicts of interest relating to the AIG bailout.  The quote from Mr. Baxter sums it up quite well; the problem was the appearance of the action not the action itself.  In short, propaganda fail.

http://cop.senate.gov/documents/cop-031611-report.pdf

Conflicts

The AIG rescue illustrated the tangled nature of relationships on Wall Street. People from the same small group of law firms, investment banks, and regulators appear in the AIG saga (and many other aspects of the financial crisis) in many roles, and sometimes representing different and conflicting interests. 443 The lawyers who represented banks trying to put together a rescue package for AIG became the lawyers to FRBNY, shifting sides in a matter of minutes. Those same banks appear first as advisors, then potential rescuers, then as counterparties to several different kinds of agreements with AIG, and thereby as the direct and indirect beneficiaries of the government rescue. Many of the regulators and government officials (in both administrations) are former employees of the entities they oversee or that benefited from the rescue.

The government justified its decision to draw from a limited pool of lawyers and advisors by citing the need for expertise from Wall Street insiders familiar with AIG. Even so, the government entities should have recognized that at a time when the American taxpayer was being asked to bear extraordinary burdens, they had a special responsibility to ensure that their actions did not undermine public trust by failing to address all potential conflicts and the appearance of conflicts that could arise. The need to address conflicts and the appearance of conflicts by government actors, counterparties, lawyers, and all other agents involved in this drama was wrongly treated largely as a detail that could be subjugated to the primary goal of keeping the financial system up and running.

Even setting aside concerns about actual or apparent conflicts of interest, the limited pool of people involved in AIG‘s rescue raises a broader concern. Everyone involved in AIG‘s rescue had the mindset of either a banker or a banking regulator. The discussions did not include other voices that might have brought different ideas and a broader view of the national interest. It is unsurprising, then, that the American public remains convinced that the rescue was designed by Wall Street to help fellow Wall Streeters, with less emphasis given to protecting the public trust. The Panel recognized that government officials were confronting an immediate crisis and had to act in haste. Yet it is at moments of crisis that the government has its most acute obligation to protect the public interest by avoiding even the appearance of impropriety. As Mr. Baxter of FRBNY told the Panel, ?[i]f we should go through this again, we [would] need to be more mindful of how our actions can be perceived. The lesson learned for me personally here is that we need to be mindful of that and perhaps change our behavior as a result of the perception, not the actuality.

Thu, 03/17/2011 - 03:57 | 1065656 steveo
steveo's picture

Can this statement be considered a crime against humanity?

Wed, 03/16/2011 - 21:43 | 1064633 Huck T
Huck T's picture

Still no reports of looting. 

It's like Katrina in Reverse: no warning, maybe 10X casualties, and yet everyone is keeping their shit together... 

Can you imagine how this would go down here in the US of A?  All the objectivist bedwetters on the street would be pissing themselves, wondering where FEMA was, and pleading for HeloBen to save their books.  And buying up all the Iodine on Ebay... 

Before a few days ago, there was a lot of smack talked about the Japanese on this site, especially with reference to how they dealt with their bubble twenty years ago.

Best now to see how a civilized people deal with Ma Nature, and take notes.   

Wed, 03/16/2011 - 22:07 | 1064790 romanko
romanko's picture

Amen. Never thought I'd be saying this, but the Japanese are really a nation of heroes.

 

 

Wed, 03/16/2011 - 22:31 | 1064914 JohnG
JohnG's picture

Japanese looters are all ninjas.

You've never been to the ninja parade?

http://www.theonion.com/video/ninja-parade-slips-through-town-unnoticed-...

 

Wed, 03/16/2011 - 21:43 | 1064640 user2011
user2011's picture

How much money does BoJ has ?   I can't believe they can continue to pouring in like this. 

And how much money will it take them to push the yen down against all the currencies ?

I am surprised to hear selling the US bond is not on the table.

 

 

Wed, 03/16/2011 - 21:53 | 1064676 CPL
CPL's picture

If you haven't clued in yet.  The Bank of Japan is the equivalent of the Federal Reserve.

 

They can print money anytime they wish as long as it is their own countries currency.  Well except Ireland that printed billions of dollars without asking the rest of the EU.

 

Bonds...or UST's are mostly owned now by the US government.  The biggest bond holders of US debt, is the US government.  Kinda like writing yourself an IOU even though you are broke.  US debt is not necessarily held by outside sources.  Even with say, 5%, of all US debt being held externally it still means that you are dependant on other people to keep the US together.

 

Doesn't take much to lose everything you have at a casino.

Wed, 03/16/2011 - 22:33 | 1064924 Snidley Whipsnae
Snidley Whipsnae's picture

CPL... This FinViz Forex site is stuck on 6:08pm NY Time. Have you heard anything about delays in updates?

http://finviz.com/forex.ashx

Wed, 03/16/2011 - 22:46 | 1064992 CPL
CPL's picture

Nothing so far.  It's locked probably because QE3 is due tommorrow.  So if you are in a short position run for it.

Wed, 03/16/2011 - 22:59 | 1065057 Snidley Whipsnae
Snidley Whipsnae's picture

lol... I don't play in front of steam rollers...

Thu, 03/17/2011 - 03:56 | 1065655 steveo
steveo's picture

As much as they want, they print it.

 

Thats why soveriegn currency is better than Euro.    If you don't get that, study it and get it.

Wed, 03/16/2011 - 21:51 | 1064671 user2011
user2011's picture

The area affected by the Tsunami is not that big.  Yes, 10K people dead, but vast majority of Japan still intact. 

It is like Katrina, it was devastating but many American still move on their daily live.   I can't believe people are portraiting it as end of Japan and the world. 

On the other hand,  It is hard for me to believe that Yen is raising so much. It is almost a self-destructive rate. 

Nothing make sense here.

 

 

 

 

 

 

Wed, 03/16/2011 - 22:08 | 1064786 ImNotExposed
ImNotExposed's picture

Are you kidding? There are 450,000 people in shelters. Those are the survivors. Subtract 450,000 from the number of people who don't have homes to return to. Subtract the number of people who still haven't reached a shelter. Consider the fact that entire towns were destroyed in under 2 minutes. Consider the fact that most people had at most a 30 minute warning. Consider the fact that roads out of those places would have been choked. Consider the fact that Japan is one of the most densely populated countries in the world.

"The area affected by the Tsunami is not that big." Brilliant fucking analysis.

Wed, 03/16/2011 - 22:31 | 1064908 Snidley Whipsnae
Snidley Whipsnae's picture

And 20% of Japan's electrical generating capacity is now shut down.

Thu, 03/17/2011 - 03:06 | 1065626 LudwigVon
LudwigVon's picture

Don't forget about the empty store shelves and the phone call restrictions.

Wed, 03/16/2011 - 22:06 | 1064775 mark mchugh
mark mchugh's picture

I just hope everybody's taking notes here.  We toss around the word "crisis" like it's nothing.  Still think suggesting bondholders take haircuts qualifies as a crisis?

Water, food, shelter, money, medicine, the ability to protect your own...

No one's gonna care how many shares of Apple you own when a real crisis comes along.  The Japanese Ponzi just ran out of greater fools, and $700B isn't going to change anything.  Rest assured, it will happen here too, it's just a question of when.

Japan will survive and they will emerge a wiser nation.  Don't let the lessons of this horror be lost on you.

Wed, 03/16/2011 - 23:00 | 1065070 Larry Darrell
Larry Darrell's picture

"Japan will survive and they will emerge a wiser nation. "

This is the worst fear of the ponzi masters.

No one pays any attention to Iceland being just fine as a nation after their default.

Japan is big enough to be on everyone's radar.

If Japan defaults and life goes on, then the rest of the world will finally start to understand how default is the correct response to fake debt.

Wed, 03/16/2011 - 22:20 | 1064864 bugs_
bugs_'s picture

scared people prefer physical currency to a virtual balance.

Wed, 03/16/2011 - 22:25 | 1064881 AldoHux_IV
AldoHux_IV's picture

This financial system is ever fragile and fraudulent-- nothing has been learned from the last crisis and it will probably take more crises before the public wakes up to the scam and social class genocide that's been taking place.

Wed, 03/16/2011 - 22:29 | 1064907 tiger7905
tiger7905's picture

Speaking of physical metal, new comments by Embry, says gold shares manipulated, Wow, never saw that one coming. :-)
See's silver easily going to $60-100/oz.

http://goldandsilverlinings.com/?p=266

Wed, 03/16/2011 - 22:32 | 1064916 Buck Johnson
Buck Johnson's picture

There is a run on the banks, because the thousands of people who are leaving Japan had transferred or drawn out their money.  The tens of thousands if not millions who need money in order to buy what scant products or food their is in the region.  What scares me even more, is when the lies don't work anymore and they are finally told the truth we may see a massive stampede out of everything in japan including people.

Wed, 03/16/2011 - 22:34 | 1064937 Snidley Whipsnae
Snidley Whipsnae's picture

In Japan 20% of electrical generating capacity is off line... That is an admission of fact by the Japanese Gov.

What I have not heard is how much of the electrical grid was destroyed by the earthquakes and tsunamis.

Anyone hear official comments about this?

Wed, 03/16/2011 - 23:04 | 1065089 Eyes on the World
Eyes on the World's picture

Per Reuters live blog, ATMs are working again.

 

http://live.reuters.com/Event/Japan_earthquake2

 

Wed, 03/16/2011 - 23:27 | 1065195 CPL
CPL's picture

What's the limit that is allowed to be withdrawn?  Besides, who cares.

Would you be with that bank as soon as the doors opened tommorrow?

Wed, 03/16/2011 - 23:08 | 1065101 Yen Cross
Yen Cross's picture

What? no shark fin,or whale fluke. And I'm republican.

Thu, 03/17/2011 - 00:13 | 1065326 robertocarlos
robertocarlos's picture

I took 500 dollars out today but I don't understand how it will be of any use when the SHTF. I have a closest full of an even more valuable paper.

Thu, 03/17/2011 - 00:34 | 1065387 Logan Tassajar
Logan Tassajar's picture

The definitive news on the ATM issue:  http://www.youtube.com/watch?v=SX6qfhy_1tk

Thu, 03/17/2011 - 01:11 | 1065470 glenlloyd
glenlloyd's picture

This is a slippery slope if they've locked people out, it only encourages a run on the already insolvent system.

In the US if you want to encourage bank account closures and a 'bank run' just limit debit card use to $50 or $100 and that'll get the ball rolling.

It's laughable that the whole foundation of fractional reserve banking is that not everyone will want their money at the same time! Excuse me, seems like the wisdom of that philosophy will be tested yet again!

Thu, 03/17/2011 - 04:45 | 1065682 capitallosses
capitallosses's picture

Let's remember until recently when China bumped up a notch, Japan was the second biggest economy in the world, not bad for a little island nation. Japan will recover though this is a serious and very expensive tragedy.

Meanwhile all I can think is to withdraw all dollars on deposit and dissipate them, and cling tight to my PMs. The tipping point seems closer today, thanks Japan.

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