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

Tyler Durden's picture




 

As was perfectly expected by Zero Hedge, Japan is issuing its first batch of Earthquake relief debt to the tune of  ¥10 Trillion. And with massive repatriation flows (as confirmed today when Steve Liesman denied the very concept), and little demand out of domestic purchasers, Japan is about to (re)discover the pleasures of massive quantitative easing.

From Sankei (obviously Google Translated):

East by the earthquake, the government budget for compensation for the rehabilitation and reconstruction, the central bank to fund the full amount directly to undertake major "earthquake reconstruction bonds" decided to issue an emergency. Several government sources have revealed. Issuance is expected to more than 10 trillion yen. Coordination with the ruling and immediately entered the Bank of Japan, including an agreement aimed at the opposition.

The government aims to secure new funding disaster reconstruction measures, it was considered appropriate the full amount of financial resources such as free child allowance and the highway was recorded in fiscal year 2011 budget, approximately 3 trillion yen not only to determine effective measures to hit.Government bonds was also considering a new financial situation worsens if you ask on the mass distribution in the bond market, there is a risk that falling interest rates lead to higher bond ratings.

This bill makes the rapidly rising debt to assume the Bank of Japan quake reconstruction. Underwriting government bonds by the central bank has been prohibited by Article 5 of the Public Finance Act, the provision of the phrase "within the scope of the amount passed through the Diet in the cases where special circumstances will not apply" has been defined, and this The earthquake is "special reason" was considered spent.

The Bank of Japan has secured its independence in the Bank of Japan Law that could frown, are expected to respond to the acceptance and finally that there is a movement of the revised BOJ Law strengthen the involvement of the government parties.

Reconstruction measures in the Great Hanshin Earthquake in 1995 was recorded a total of 3 trillion yen supplementary budget for 3800 of 3 degrees.This earthquake is far from the large scale "in 10 trillion yen and 20 trillion yen is not enough" (Kamei Shizuka national party representatives), but some of this.

Meanwhile, the president of the LDP Tanigaki Teiiti proposed a tax deadline, Prime Minister Naoto Kan, "Japan's economy could worsen further," it shows a negative thought.

In the FY2011 supplementary budget measures aimed at the ruling party recovery, the child allowance was recorded in 23 year's budget (¥ 2.2 trillion) of highways and free (£ 100 billion) of free high school tuition (400 billion yen), security systems door to door farm income (6,000 million yen) was distributing the financial resources devoted to planning and policy in government bonds to cover the rest of earthquake reconstruction. Roads and bridges (speak today), is considering issuing bonds for construction and ports.

 

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Thu, 03/17/2011 - 19:41 | 1069067 FischerBlack
FischerBlack's picture

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

 

Thu, 03/17/2011 - 19:53 | 1069124 High Plains Drifter
High Plains Drifter's picture

Who is going to buy this junk he said facetiously. 

Thu, 03/17/2011 - 19:59 | 1069126 THE DORK OF CORK
THE DORK OF CORK's picture

I think if these flows can be turned to something productive  rather then speculation (more to come I suspect) then the dollar could be in real trouble.

Japan could be finally turning inward which is its natural state - the FED may be losing its India and soon after the empire could fall.

 

Thu, 03/17/2011 - 19:57 | 1069130 EscapeKey
EscapeKey's picture

It absolutely sickens me how every problem is "solved" by printing money.

But, more than that - it sickens me even more how Keynesian macroidiots have every university graduate convinced that this will actually work, and not result in REAL ACTUAL inflation (and not their moronic made up "core" inflation).

Thu, 03/17/2011 - 19:57 | 1069133 jesse livermoore
jesse livermoore's picture

has france bombed libya yet?

Thu, 03/17/2011 - 20:03 | 1069161 Muir
Muir's picture

 

No.

And don't blow your top being impatient neither.

-

Thu, 03/17/2011 - 19:59 | 1069142 Tail Dogging The Wag
Tail Dogging The Wag's picture

We're about to surf the Peak-Ink.

Thu, 03/17/2011 - 20:02 | 1069147 My Days Are Get...
My Days Are Getting Fewer's picture

What foreigner would buy these Yen-denominated bonds.  Today, the rate of exchange to the US Dollar = 79.  In one year, after the world acknowledges that Japan is insolvent, the rate will go to the top of the range - about 110.

 

The converse situation exists for those Japanese owning Treasuries.  They bought the bonds when rate of exchange was closer to 100 than 80.  If the owners want to sell and repatriate the proceeds to Japan, they will suffer large foreign exchange losses.

 

 

 

Thu, 03/17/2011 - 20:02 | 1069149 scratch_and_sniff
scratch_and_sniff's picture

BOJ IN DA HOUSE!!!!!!!!!!!!!

Thu, 03/17/2011 - 20:03 | 1069154 Unlawful Justice
Unlawful Justice's picture

Who ever said drug dealer's are the scourge of society, has never met a Central Banker with a Ph.D.

Thu, 03/17/2011 - 21:40 | 1069570 zaknick
zaknick's picture

Thats because they're the same people:

youtube: "mike ruppert" cia drugs playlist

If you dig into the cia within the cia ("ollie" norths "enterprise") you'll see they are bankster descendants who deliberately created the black market known as the "war on drugs" while in congress (ghw bush''s unauthorized biography - www.tarpley.net) with the redneck's help (in retaliation for the civil rights act of 1964 and to achieve the bankster putsch to split the old truly populist democrats).

You reap what you sow, bitches!

Thu, 03/17/2011 - 20:02 | 1069156 lord of the fire
lord of the fire's picture

Is the Nikkei closed today, and I just did'nt get the memo?  And yes, I do have the new cover sheet for my TPS reports.

Thu, 03/17/2011 - 20:56 | 1069379 serotonindumptruck
serotonindumptruck's picture

+1 red Swingline stapler

Looks open to me.

http://finance.yahoo.com/intlindices?e=asia

Thu, 03/17/2011 - 21:05 | 1069409 lord of the fire
lord of the fire's picture

LOL.  Thanks, I was an hour ahead of myself with the time conversion.  Thanks for the link, I like the display much better than CNBC's.

"It's not that I'm lazy, It's just that I dont care"

Thu, 03/17/2011 - 20:04 | 1069157 zebra
zebra's picture

is this why ES spike up now?

Thu, 03/17/2011 - 20:04 | 1069160 chump666
chump666's picture

G7 braindead crew...ready for the money pumps.  USD now selling.  What a joke, as oil goes ballistic...

Japan's citizens start to riot on food and oil blow outs.

 

Thu, 03/17/2011 - 20:06 | 1069162 iota
iota's picture

And there goes the Yen crosses...

Thu, 03/17/2011 - 20:07 | 1069163 chump666
chump666's picture

ZH, check wires.   The G7 will send the world into a full blown riot zone...

oil now bid

Thu, 03/17/2011 - 20:07 | 1069167 LongSoupLine
LongSoupLine's picture

USD/JPY just went apeshit full retard!

80.80 and in Scud missile mode.

(edit over 81.)

Thu, 03/17/2011 - 20:07 | 1069172 tallen
tallen's picture

Remember, never go full retard!

Congratulations who ever front runned with this article. Shame I can't trade FX on my acc.

 

 

Thu, 03/17/2011 - 20:11 | 1069183 cswjr
cswjr's picture

Funny thing is that it started out moving the WRONG WAY!!!  Check out the chart.

Thu, 03/17/2011 - 20:23 | 1069224 LongSoupLine
LongSoupLine's picture

yep, that was the 60 sec lag time for the BoJ to fire up the massive Yen puking printers.

Thu, 03/17/2011 - 20:08 | 1069168 godzila
godzila's picture

Massive move (intervention) on the USDJPY...

Thu, 03/17/2011 - 20:08 | 1069170 JLee2027
JLee2027's picture

USDJPY 80

OOPS make that 81. The BOJ has spoken.

Thu, 03/17/2011 - 20:11 | 1069185 chump666
chump666's picture

nah still a major bid on YEN, once the BoJ, G7 can't soak up all that radiation...that and Japanese citizens finally having enough of their BS government and central bank.

 

Thu, 03/17/2011 - 21:09 | 1069420 snowball777
snowball777's picture

With a half-life shorter than anything leaking out of their reactors, the proverbial hill of...rice?

Thu, 03/17/2011 - 20:08 | 1069175 Itsalie
Itsalie's picture

hah, yen intervention watch - all japanese who sold foreign assets to buy yen below 80 are now holding their cheaper yen in disgust as japan govt continues to find ways to punish its already striken citizens. maybe that's a leaf they picked up from ben's qe, punish 99% of the poorest amercians, enrich or bail out the top 1%; long-live land of the rising sun (or big apple, my vision is failing me)

Thu, 03/17/2011 - 20:13 | 1069177 hambone
hambone's picture

Half life down to 1 day?  8hrs???  4hrs???

This is how hyperinflation is done...just keep piling it into the furnace.

And tomorrow?  And the day after?  Trillions, ever more trillions (don't worry, it's only really hundreds of billions in strong $ terms). 

Thu, 03/17/2011 - 20:10 | 1069180 No More Bubbles
No More Bubbles's picture

How does Specie still retain any value?  Why not print $100 Trillion Yen per hour?

Thu, 03/17/2011 - 20:12 | 1069182 Abitdodgie
Abitdodgie's picture

Every country has to keep buying everyone else's bonds to keep the mother of all ponzi schemes going , if one falls they all go.

Thu, 03/17/2011 - 20:12 | 1069191 bob_dabolina
bob_dabolina's picture

I have a friend in the military who just tweeted:

"Captain of the USS Reagan told the crew to make video conferences home cause they dont know how sick they might get."

Have not confirmed yet but he's an honest guy so take it for what it is...

 

Thu, 03/17/2011 - 20:15 | 1069198 My Days Are Get...
My Days Are Getting Fewer's picture

After the BOJ ceases intervention, Soros + friends will step back in and drive the Yen higher. Another intervention and cessation, etc.  Eventually, when the Yen is 50 and the BOF has destroyed itself, with no credit left for its stricken citizens, bankers will move on to fry some new central bankers.

Thu, 03/17/2011 - 20:14 | 1069200 LongSoupLine
LongSoupLine's picture

Here come da' silver bitchez!

Thu, 03/17/2011 - 20:15 | 1069202 max2205
max2205's picture

Jap fut up 4%. Wtf does this shit ever end

Thu, 03/17/2011 - 20:16 | 1069203 hambone
hambone's picture

Japanese T-shirt idea...

My government bought 75 trillion yen (so far) to prop up the corporations who are outsourcing Japanese jobs to China and all I got was a crappy t-shirt (and some radioactive plastic rice).

Thu, 05/12/2011 - 15:51 | 1269196 a1sinclair@aol.com
a1sinclair@aol.com's picture

Tom, is that you?

 

Alex

Thu, 03/17/2011 - 20:17 | 1069207 chump666
chump666's picture

market is still selling most supports are toast (FX), G7, BoJ hell even ben 'mutant' Bernanke can't stop the radiation fallout fear.

 

...it's still on.

Thu, 03/17/2011 - 20:21 | 1069215 cocoablini
cocoablini's picture

Hey, at least they are rebuilding. Ever look at the differene between Hiroshima and Detroit. Which disaster looks worse now- the bomb or the Union/ corporate kleptocratic induced slow death?
I bet the Japanese have this shit tied up in 10 years- whereas NoBama and Congress have no clue have to make the US a better place.
Hes too busy making his final 4 picks. 100% LOSER.

Thu, 03/17/2011 - 20:24 | 1069239 malek
malek's picture

Tells you something, that selling US Treasuries is not an option...

Thu, 03/17/2011 - 20:38 | 1069304 RockyRacoon
RockyRacoon's picture

I just hope I live long enough to see this crash.   Got too much time invested in it to die now... no to mention all this popcorn I've stockpiled.

Thu, 03/17/2011 - 20:41 | 1069317 johnQpublic
johnQpublic's picture

did rube goldberg design the current economic/financial/government model?

 

anyone?

Thu, 03/17/2011 - 20:56 | 1069386 fuh-q
fuh-q's picture

Just throwing this out there, but let's assume we enter a china syndrome via reactor 4.  Wouldn't a 20 megaton explosion be big enough to send a tsunami towards the west?  Forgive my ignorance on the issue.... just throwing around what if's in my mind.

Thu, 03/17/2011 - 22:40 | 1069785 snowball777
snowball777's picture

Seismic moment of the 9.1 quake == 3.9e22J...which was 200,000X the surface energy (so your kaboom would need to be as well)...is ~600M times the energy of the bomb dropped on Hiroshima which was 6.3e12J from a 15k-ton yield.

20Mton == (1333.333 * 15kt) == 8.4e16J, if you assume it scales linearly.

Or about 92B times too small ("so small...so small"). You'd be lucky to get a wave to Okinawa.

Mother nature: she don't play.

Thu, 03/17/2011 - 21:16 | 1069442 Double down
Double down's picture

including an agreement aimed at the opposition.

 

Now that is good translating!

 

Thu, 03/17/2011 - 22:22 | 1069723 Buck Johnson
Buck Johnson's picture

This super black swan is not needed for the world economy right now.  The damage that was done by the earthquake and damage that will be done and continue to be done by the reactors will surpass the 10 trillion yen bond issuance or printing.  They will need 100's of trillion in yen to get everything back to normal and that is if the reactors don't make Japan or 2/3 of it uninhabitable.  And if that happens all bets are off and the Yen is no more.

Thu, 03/17/2011 - 22:44 | 1069791 snowball777
snowball777's picture

Consider the possibility that this event will be the invitation that China as been looking for to start WWIII; they attempt to take Japan and we all get roped in.

Fri, 03/18/2011 - 02:38 | 1070310 BigDuke6
BigDuke6's picture

Amazing that this idiotic comment hasn't been junked.

Says a lot about the clientele around here.

If they don't invade, will that make you stop polishing your smith and wesson?

they can barely hold themselves together, they dont want war, they play the long game, they'll just sell you plastic until they own your house... read about it. 

Thu, 03/17/2011 - 22:51 | 1069813 sunny
sunny's picture

I had to run a few numbers.  Japan has a population about 127 million, or about 38% of the US, with a land area around 90% of California.  They are gonna pump 700 Billion dollars into reconstruction...for starters.  That is a lot of reconstruction.  Sheeiiish.

sunny

Thu, 03/17/2011 - 23:32 | 1069944 Sooth
Sooth's picture

10 trillion yen = $124 billion

Most of the Japanese government debt is internal, owned by the Japanese. The Japanese are almost pathological savers, just like we're pathological spenders.

They also own something north of $600 billion in US treasuries. They could sell some.

Fri, 03/18/2011 - 02:09 | 1070266 Peter K
Peter K's picture

LIESMAN = TOOL ;)

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