• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

And Here Comes The First Batch: Japan To Issue ¥10 Trillion In Earthquake Relief Bonds

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Thu, 03/17/2011 - 19:41 | 1069067 FischerBlack
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Really don't need any other site than here. Seriously.

Thu, 03/17/2011 - 19:47 | 1069103 VisualCSharp
VisualCSharp's picture

On a long enough timeline the value of all fiat currency drops to zero.

RESPECT THE 'HEDGE.

Thu, 03/17/2011 - 19:54 | 1069123 bob_dabolina
bob_dabolina's picture

Agree.

ZH is consistently ahead of the curve on every important issue.

This site is fantastic.

Thu, 03/17/2011 - 20:32 | 1069272 serotonindumptruck
serotonindumptruck's picture

"This site is fantastic."

And, I'm not ashamed to admit, very addictive.

Thu, 03/17/2011 - 21:37 | 1069485 Mark McGoldrick
Mark McGoldrick's picture

Yes, I agree.  ZeroHedge is a fantastic site.  In fact, I find ZH solidly ahead of other news outlets on breaking developments, especially this Japan stuff.  ZH had two pieces on the yen surge yesterday before it was even mentioned on Bloomberg tv. Great Job!  

The other reason I love ZeroHedge is the comments section.  It's a veritable treasure chest of primatology and anthropology, giving me a glimpse into the early stages of human evolution when square pegs and round holes were the Rubik's Cube of the day.  Just as cosmologists paint a picture of the Big Bang by using photons that have travelled since the beginning of time, I can take the comments of loony libertarian bunker goons and create fairly reliable behavioral models of how the cave-dwelling homo habilis behaved during the Lower Paleolithic era.

This will amaze you: Do you want to know the common thread between a libertarian and a 2 million year old homo habilis ?

Ham!  Of all things! Both were/are extremely preoccupied with ham, which I would never have imagined. Two million years ago, they drew pig pictures in caves. Today, libertarians dig caves in their back yard and fill it with canned pig.  Weird. Really weird. 

ZeroHedge is more than news and commentary; it's a cladogram.  

 

Fri, 03/18/2011 - 00:34 | 1070075 i-dog
i-dog's picture

You appear to be projecting your neanderthal (or earlier) stage of cranial development onto others! Shame!

Thu, 03/17/2011 - 19:41 | 1069069 AN0NYM0US
AN0NYM0US's picture

why mention liesman?

Thu, 03/17/2011 - 19:43 | 1069083 Id fight Gandhi
Id fight Gandhi's picture

What kind of name is that LIES MAN

Thu, 03/17/2011 - 21:47 | 1069578 Atomizer
Atomizer's picture

That Bald Headed Asshole relies on CFR emails/meetings for CNBS program modeling.

Thu, 03/17/2011 - 19:44 | 1069089 LongSoupLine
LongSoupLine's picture

That's Steve "I'm a Fed Cross Dresser" Liesman

Thu, 03/17/2011 - 19:47 | 1069093 tallen
tallen's picture

Classic Liesman jokes, keep them up please ;)

Thu, 03/17/2011 - 20:14 | 1069196 10kby2k
10kby2k's picture

Liesman is a symbol for all brain dead, talking head, kool-aid drinkers that really make Americans look like wussies.

Thu, 03/17/2011 - 19:54 | 1069131 jesse livermoore
jesse livermoore's picture

Is liesman intenionally decieving people,  or does  he really believe the snake oil he is selling

Thu, 03/17/2011 - 21:10 | 1069424 JohnG
JohnG's picture

Neither, he's just stupid.

Thu, 03/17/2011 - 20:00 | 1069141 bob_dabolina
bob_dabolina's picture

Can't spell seamen without liesman

Thu, 03/17/2011 - 20:08 | 1069174 Hedge Jobs
Hedge Jobs's picture

cuase he is a fucking douche bag schill and needs to outed as such at every opportunity

Thu, 03/17/2011 - 19:41 | 1069072 RobotTrader
RobotTrader's picture

Heh, why not make it 100 Trillion Yen?

Guaranteed to make the JPY surge even higher!!!

Thu, 03/17/2011 - 19:46 | 1069073 VisualCSharp
VisualCSharp's picture

I guess they calculated that 10 trillion yen would fit nicely into the blown-out reactors.

I'm only partially kidding:

What does one TRILLION dollars look like?

http://www.pagetutor.com/trillion/index.html

Thu, 03/17/2011 - 20:11 | 1069178 Miss Expectations
Miss Expectations's picture

wow...just wow.

Thu, 03/17/2011 - 19:43 | 1069076 max2205
max2205's picture

If they yield 6% where can I buy some

Thu, 03/17/2011 - 19:44 | 1069081 Scottj88
Scottj88's picture

Bearish for gold/silver obviously

Thu, 03/17/2011 - 19:45 | 1069082 Cleanclog
Cleanclog's picture

Only $120 Billion.  Still, it's a smaller country.  Pretty decent QE.  And now the whole world is addicted to QE medicated money supply. 

Thu, 03/17/2011 - 19:45 | 1069084 Spitzer
Spitzer's picture

what is the point of treasuries ?

They can never sell them, at any cost...

Japs are the dumbest central planners on this earth.

Fri, 03/18/2011 - 01:22 | 1070189 thegr8whorebabylon
thegr8whorebabylon's picture

Peeps up North are literally starving to death now, in hospitals and shelters.

Sumimasen ga, Fukushima wa, tabemono to mizu irimasu.  now. onegaishimasu.

Just get all the rich fuckers in the rotary clubs in the south to send their vast stores, warehouses full of rice, by bullet train north and then helicopter it in fast.  Your people are dying, Japan.

And thanks for all the help from USA?

Fri, 03/18/2011 - 02:24 | 1070286 BigDuke6
BigDuke6's picture

Yeah USA, 

Lazy fuckers...while you are at it kick out gaddafi, bring democracy to iraq , keep the heroin supply going out of afganistan to fund the CIA....

and now help out japan to bring back the cherry blossom,

the taxpayers will pay.

 

Thu, 03/17/2011 - 19:45 | 1069086 Zon
Zon's picture

so is the whole nuclear "disaster" over? seems like every night the news on it gets less and less. I guess thats a good thing but so much for all that nuclear fallout stuff huh?

Thu, 03/17/2011 - 19:46 | 1069098 VisualCSharp
VisualCSharp's picture

That's probably what TEPCO, the Japanese government and the United States government want you to believe. No news does not indicate good news in this situation.

Thu, 03/17/2011 - 20:16 | 1069201 imapopulistnow
imapopulistnow's picture

4 pools are boiling off steam.  This is far from over.

Thu, 03/17/2011 - 19:45 | 1069087 Mae Kadoodie
Mae Kadoodie's picture

Bondsai.

Thu, 03/17/2011 - 19:57 | 1069139 cswjr
cswjr's picture

Har, har.  Good one.

Thu, 03/17/2011 - 20:13 | 1069188 plocequ1
plocequ1's picture

Look eye Danielson, Always look eye.

Thu, 03/17/2011 - 19:45 | 1069096 gimli
gimli's picture

Oh no --- I'm hearing that tune again:

 

I'm turning Bernankese 

I think I'm turning Bernankese 

I really think so 
Turning Bernankese 
I think I'm turning Bernankese 
I really think so 
I'm turning Bernankese
I think I'm turning Bernankese 
I really think so 
Turning Bernankese
I think I'm turning Bernankese 
I really think so

Thu, 03/17/2011 - 19:48 | 1069102 LongSoupLine
LongSoupLine's picture

ES futures down .5%

Thu, 03/17/2011 - 19:49 | 1069108 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

Just think, this time last week, all was well in unsuspecting Japan.

Now here we are one week later, that's how fast collapses happen.

Coming to the good ol' USA soon, and deservedly so unfortunately.

Thu, 03/17/2011 - 20:13 | 1069187 macholatte
macholatte's picture

....and deservedly so....

for whom?

go beat yourself up and like it. The rest of us are trying to salvage our lives.

Thu, 03/17/2011 - 19:49 | 1069110 QQQBall
QQQBall's picture

Checkout this post at Market Ticker.

 

From the BBC:

2226: The Yomiuri Shimbun newspaper, quoting a senior official of the ruling Democratic Party of Japan, said the US made the offer immediately after the disaster damaged Fukushima No 1 nuclear plant. According to the unnamed senior official, US support was based on dismantling the troubled reactors run by Tokyo Electric Power (TEPCO) some 250 km (155 miles) northeast of Tokyo. However, the government and TEPCO thought the cooling system could be restored by themselves, the report said.

Am I reading this right?

Our government demanded that the Japanese dismantle - that is, permanently remove - over five gigawatts of power in order to help them with a critical safety problem that had the potential to destroy 100 square miles of land and kill or injure thousands of people?

That as compensation for helping them we demanded that they cripple their electrical generating capacity on a permanent basis?

You have to be kidding me.

This is an extremely serious charge.  If it's true it stands alone as grounds for impeachment and dismembering of every single federal agency involved.

Perhaps this explains why the US Military and/or civilian authorities didn't stick a couple of big-ass generators on a transport plane and get them over there, restoring power to the reactors within hours of the incident and avoiding all of the serious radiation and physical damage at the plant.

This allegation is ridiculously incendiary and demands an immediate and complete Congressional investigation.  Not only do the citizens of the United States deserve to know the truth (or falsity) of this charge (and who initiated it if it is false), but so do the Japanese people.

If this is how this man treats our friends and attempts to use a crisis threatening the lives of civilians to score a political point and advance his "green" agenda....

Thu, 03/17/2011 - 19:49 | 1069111 QQQBall
QQQBall's picture

Checkout this post at Market Ticker.

 

From the BBC:

2226: The Yomiuri Shimbun newspaper, quoting a senior official of the ruling Democratic Party of Japan, said the US made the offer immediately after the disaster damaged Fukushima No 1 nuclear plant. According to the unnamed senior official, US support was based on dismantling the troubled reactors run by Tokyo Electric Power (TEPCO) some 250 km (155 miles) northeast of Tokyo. However, the government and TEPCO thought the cooling system could be restored by themselves, the report said.

Am I reading this right?

Our government demanded that the Japanese dismantle - that is, permanently remove - over five gigawatts of power in order to help them with a critical safety problem that had the potential to destroy 100 square miles of land and kill or injure thousands of people?

That as compensation for helping them we demanded that they cripple their electrical generating capacity on a permanent basis?

You have to be kidding me.

This is an extremely serious charge.  If it's true it stands alone as grounds for impeachment and dismembering of every single federal agency involved.

Perhaps this explains why the US Military and/or civilian authorities didn't stick a couple of big-ass generators on a transport plane and get them over there, restoring power to the reactors within hours of the incident and avoiding all of the serious radiation and physical damage at the plant.

This allegation is ridiculously incendiary and demands an immediate and complete Congressional investigation.  Not only do the citizens of the United States deserve to know the truth (or falsity) of this charge (and who initiated it if it is false), but so do the Japanese people.

If this is how this man treats our friends and attempts to use a crisis threatening the lives of civilians to score a political point and advance his "green" agenda....

Thu, 03/17/2011 - 20:01 | 1069151 bob_dabolina
bob_dabolina's picture

fuk-fuk-fuk-fukushimanotgonamakepoweranymore

Thu, 03/17/2011 - 20:21 | 1069206 4xaddict
4xaddict's picture

solly solly we keep reactor and just try drop water from large frying grasshopper. We orso pray it will work.

Impeachment? 

After what has subsequently transpired and given this offer was made immediately post quake, in hindsight it doesn't appear the worst idea.

They already have 5GW of power offline anyway. Unless I am missing some information or not understanding what you have posted, it seems the US have not really been unreasonable. I am certainly not a fan of the US administration or the government's track record of meddling in other sovereigns affairs but seriously, am I missing something?

All I can see is ruin a vast swathe of what little land you have OR take offline a power plant and build another. Build time for a new plant 5yrs? 10yrs? vs Chernobyl and a huge area of land phucked for generations?

I don't get your moral outrage at all? Once again though, I may have missed a key point but on re-reading your post don't believe I have.

Thu, 03/17/2011 - 20:24 | 1069242 Deepskyy
Deepskyy's picture

I think the bigger issue is the fact that we hinged our aid on them wrecking the entire plant.  That aint cool man.  The Japanese have estimates of 14k people dead, and a big shitstorm on their hands with the nuke plant and we want to make demands to be met before we aid one of our biggest allies? 

Thu, 03/17/2011 - 20:37 | 1069296 4xaddict
4xaddict's picture

Valid point from a moral perspective but I am not sure how many US allies believe that status comes for free. The US always wants something in return for riding in on the large white horse. War reparations, oil, onerous loans for economic development and now removing a nuclear reactor.

I now get where the original poster and yourself are coming from as a philosophical angle however many worse things have been asked of allies in the past and unfortunately the Japanese will just need to join the cue if they are looking for US sympathy.

Sad but true.

Thu, 03/17/2011 - 20:53 | 1069368 Deepskyy
Deepskyy's picture

I keep trying to get rid of my soul so I can understand the game, but then I remember I'm just a broke recent graduate.  I don't have enough money to be soulless yet.

 

Thu, 03/17/2011 - 21:20 | 1069460 4xaddict
4xaddict's picture

Behind every great fortune there is a great crime. The rules were written long before we came along.

I personally do not lack empathy for the Japanese people, what has occurred there is nothing short of a tragedy.

But governments dealing with other governments never have the people's best interests at heart. US wants contracts to help rebuild the nuke plants and also wants justification for sending their voter's sons and daughters into a location that may see them living with the side effects for years to come. Japanese Gov don't want to lose face and removing the reactors would be a massive "told you so" from the US after the last mega quake only decades ago.

In an ideal world every nation would have flown or sailed teams of people in to help immediately however I'm not sure you can fault the US gov in this case for their dealings with the Japanese gov being one of the most ridiculous organizations on the planet.

Thu, 03/17/2011 - 20:52 | 1069372 Rogerwilco
Rogerwilco's picture

Unlike most countries where we have military bases, Japan actually pays the U.S. government about $5B a year to offset the costs to American taxpayers.

Thu, 03/17/2011 - 20:59 | 1069395 4xaddict
4xaddict's picture

That's just the insurance policy to protect them from any panda problems they may encounter.

Thu, 03/17/2011 - 21:53 | 1069628 Atomizer
Atomizer's picture

fuk-fuk-fuk-fukushimanotgonamakepoweranymore

Bless you Bob-san. I don't have a tissue handy, mind using a newly printed Yen?

 

Thu, 03/17/2011 - 20:14 | 1069189 max2205
max2205's picture

Denninger is THE worst market timer and a HUGE wind bag

Thu, 03/17/2011 - 20:01 | 1069113 tallen
tallen's picture

What an epic fail that was, they've announced 10 trillion to be printed, and USD/JPY has hardly moved.

[EDIT] HOLY F*** I take that back, they've turned printer up to level 2
Looks like it's time for some printer wars!!! I can almost smell the burning ink.

 

Debt to GDP: 196.40. Guess it's going over 200% now. Why bother with economics anymore, we should be taught printonomics instead.

Bernie Madoff and Ben Bernake should start a new university, I'd happily go get a pHD in Printing.

Forget using water to stop reactor melting down, just paper over it then dump some concrete on top.

Thu, 03/17/2011 - 19:51 | 1069116 traderjoe
traderjoe's picture

But do remember to send your $20 to the Red Cross so they can skim their admin fees, yea? /s

Thu, 03/17/2011 - 22:02 | 1069653 StychoKiller
StychoKiller's picture

More effective use of your donations:

http://www.worldvision.org

 

Do NOT follow this link or you will be banned from the site!