Mizuho Unable To Complete ¥570 Billion Of Transactions: Money Transfers Affected Due To "System Glitch"

Tyler Durden's picture

Is Japan's already fragile financial system about to realize that not even endless pumping of liquidity by the BOJ will do much when the entire country is on the brink? According to Kyodo, Mizuho is unable to complete ¥570 billion in transactions, as problems include money transfers caused by a "system glitch." Si ATMs now, shadow banking tomorrow? The last thing an already stricken Japan needs right now is to remove cash access to its citizens. And while we await more information, we can't help but wonder just how lucky the country's financial system has been so far in preventing a wholesale freeze.

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sudzee's picture

Is this average joe creating a run on japanese banks? Food and shelter may now be more important than traditional back the Gov't , at all cost, mentality.

TexDenim's picture

System glitch = finance minister unplugged the system.

Rodent Freikorps's picture

Were they not bankrupt before the Tsupocalypse? Let the socialists reap what they have sown.

IslandMan's picture

Or a wholesale meltdown.

cossack55's picture

"just how lucky the countrys financial system has been so far in preventing the appointment of Rudolf von Bernankenstein as CB director."

gwar5's picture

I know what they mean. I came across a little system glitch the other day. 

I found a little glitch in my underpants right after an oncoming car almost hit me head on.

Hannibal's picture


Mentaliusanything's picture

This whole saga reminds me of a song by Freddie mercury

Bohemian Rhapsody 

Your welcome to enjoy the truth



Yen Cross's picture

I think its time to smash the CFTC! CRUSH.

Oh regional Indian's picture

As always, teh 30 trillion Yen went not into people's life continuity but into market life continuity. Which, in a nutshell is the story of where we are.

It's the market. Like it's a monster that has taken on a life of it's own. So hard not to sit and punch holes into my keyboard (I'm typing reeeeealy lightly) as the system shows it's true, absurd, machine like uncaring.

For all the realists and rationalists and physicists here who think calling this the end of the world as we know it is hysteria, don't pay attention to us doomers. Just follow the action.

All those trillion yen went into making what whole?


As you sow, so shall ye reap.



cossack55's picture

WTF, ORI. Since when has being a realist coorelated with being a doomer. The great thing about realism is, you are never bored. That and dying in your sleep is the best one can hope for on this poor old planet. Hey, whose not down with that?

Oh regional Indian's picture

Cossack, let's turn that WTF around to FTW!!!!!

I was being snide and should have put "realists", like that, in quotes. 

I consider myself a realist and am constantly told I'm a doomer, see?

And I agree, realism is refreshing because it's real.


middle child of history's picture

Too true. Whether people can GET THEIR money is somehow less important (no bank runs allowed) than if the banks can be GIVEN money.

TheMerryPrankster's picture

I think you mean money given BACK to the banks, all the money belongs to the banks, they just let us use it for a while at a fair and reasonable rate. Kinda like lending us our future earnings now with a nice Plutonium Visa card and only charging us 38% for the privilege.


Yen Cross's picture

And that little Faggott Barney Frank!!!! Gay is not on my list! I like Sexy Women!

RockyRacoon's picture

Me thinks ye doth protest too much.

Vampyroteuthis infernalis's picture

My question is if all of these Japanese cannot reach their savings, how is the BOJ buying securities? They would literally have to be printing money without any security purchases unlike the Fed's current fraud.

anvILL's picture

"system glitch."? My guess is that it's caused by Mizuho employee stupidity,
After all, they are the ones who sold off JCOM to the Yen.

By the way, I think a financial meltdown is pretty impossible as long as we have plenty of people demanding the BoJ to print more money to save to rescue the country and those who are severly affected. (Yes, I think this is nonsense)

ivana's picture

let's summarize:
political decision to pump huge cash down to all levels of "consumers" + empty shelves in stores and lack of basic resources + obvious panic which is still spreading + low interest rates for decade now and world flushed with yens + biggest debt ratios + need for infrastructure rebuilding + int banksters need to push oil & inflation as high as possible + no fossil fuels in japan etc etc = if powerz manage to pull this out without hyperinflation ... I will OBEY.

Looks like weakest link may fail.
Situation is same in many other western economies except first 3 conditions which are pre-conditions to hyperinfl currency collapse.

prophet's picture

commencing cyber tsunami in 3 2 1

Carl Spackler's picture

Cyber tsunamis happen all the time...they are called "spam" e-mail "blasts."



ivana's picture

Thinking about next SDR revision if yen survives: let's bet that yen % will increase because "japanese economy recovering due to rebuilding country and blah blah..." BS from pig head MSM speakers and distinguished nobel bankster PRs

orangedrinkandchips's picture

It will be the gangbangers on the west side here in Chicago that will benefit the best from a real panic....while others, trusting souls, try to get cash out of ATMs....these flakin' and perpetratin' folks (my kinda guys too...reality based that is) will be in great shape with stacks of money.



Atomizer's picture

One must not overlook

Japan's bond market has become ticking bomb -2010/8/11


Japan Post Bank suspended ATM service at 477 locations in greater Tokyo. Roughly 100 ATMs operated by Seven Bank (8410) in Ibaraki and Shizuoka prefectures suspended service at the time of the scheduled blackouts.



2010 Annual Report


spanish inquisition's picture

Money won't move......