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Nikkei Flash Crash - Futures Plummet 16% As All Hell Breaks Loose In Japan

Tyler Durden's picture




 

All hell is currently breaking loose following an explosion at reactor #2 and a another hydrogen explosion at reactor #4 per Kyodo, leading to a 16% drop in Nikkei futures as blind panic grips Japan. Kyodo essentially confirms there was a reactor meltdown as radiation levels at Fukushima 3 are now 400 times legal levels. And topping it all Japan's warning that all people within 30 kilometers from Fukushima should stay indoors and that the radioactive winds may reach Tokyo in as little as 8-10 hours. The BOJ has just intervened to prevent the yen from surging, as the following chart shows. Our prayers are with the people of Japan.

Tepco was down 24%, or 500 points, before a circuit breaker was invoked.

We hope our Japanese readers took our advice earlier to evacuate. If not, this is the area that needs to be vacated right now.

The absolutely worst news: NHK saying radiation up to 400mSv at Reactor #3, 100mSv at Reactor #1...That's milli... not micro, or 250 times the maximum reported prior number. Alas, we believe this means the cores have melted.

 

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Tue, 03/15/2011 - 01:18 | 1054375 ruffian
ruffian's picture

you short the mkt? making money tonight? .........coming off all high and mighty and inside going YESSSSS my short is working for a change......complete hypocrites out here in the wasteland 

Tue, 03/15/2011 - 01:24 | 1054393 Michael
Michael's picture

MS Erable,

Don't sweat the attack, your words are justified. It's called the diamond tactic an delta technique  they are using on you. A thick skin and one counter response to them is more than sufficient.

Tue, 03/15/2011 - 01:54 | 1054427 Ms. Erable
Ms. Erable's picture

Thanks, Micheal - I'm good. There's also a large amount of psychological projection in responses from sociopaths such as these. Just tired of the constant hypocrisy everywhere else, and don't care for seeing it from blathering idiots on ZH.

Tue, 03/15/2011 - 02:23 | 1054523 jomama
jomama's picture

insults are really the best you've got to offer.  not once did i insult you until now.  you're pathetic.

Tue, 03/15/2011 - 02:12 | 1054506 jomama
jomama's picture

wtf lol?

Tue, 03/15/2011 - 08:19 | 1054898 Al Gorerhythm
Al Gorerhythm's picture

What the hell is a troller? Is it someone who trolls?

Tue, 03/15/2011 - 01:04 | 1054305 Cistercian
Cistercian's picture

 Bad news.I just found out that gaia considers your species bias so anathema to existence that she is now going to attract a giant asteroid to purge herself to new cleanliness.

  Thanks a lot you insensate dolt.

 

Tue, 03/15/2011 - 01:14 | 1054360 stephysat28
stephysat28's picture

right on place has changed 

Mon, 03/14/2011 - 23:54 | 1053862 tmosley
tmosley's picture

I guess next time you are in a car accident, you will blame your car.

HINT: Inanimate objects don't have minds.

Why would Gaia give a shit about whales, but wouldn't care about fish?  Why dolphins and not cows, or chickens, or deer?

Mon, 03/14/2011 - 23:58 | 1053897 ruffian
ruffian's picture

Gaia for lack of a better term does not care about anything but IS EVERYTHING !!! Gaia is balance.....do you believe the human prescence on earth is in balance with nature? thought not

Tue, 03/15/2011 - 00:17 | 1054007 Oh regional Indian
Oh regional Indian's picture

+1 all the way upthread ruffian.

We are nature. It is not us and them or it and us.

But logic runs conter to such concepts, and logic is a prison. Science is the warden and everyone is stuck because the warden hands out conveinent goodies (blinders all, but so comforting).

This is the great reversion to the mean.

ORI

Tue, 03/15/2011 - 01:54 | 1054469 Population Bubble
Population Bubble's picture

As this bubble pops there will be a lot of pain.

Tue, 03/15/2011 - 03:56 | 1054634 Escapeclaws
Escapeclaws's picture

Ori, I confess I'm beginning to lose respect for you. I don't like your anti-science stance. Taking a Marxist view, for the sake of argument, the problem is that science has been co-opted by powerful economic interests. Science per se is not the problem, nor is logic. You seem to be trying to administer a frontal lobotomy to civilization. I suggest you go deep inside yourself and try to find the root cause of your dislike of science and logic. We've already got plenty of ignoramuses in Kansas who don't like evolution. Are you one of those?

Tue, 03/15/2011 - 00:21 | 1054045 BigJim
BigJim's picture

You make me want to go out and eat whale meat.

Tue, 03/15/2011 - 01:24 | 1054392 Creed
Creed's picture

I just fed my dog some whale meat dog food, she loves that stuff. woof woof

 

Tue, 03/15/2011 - 01:27 | 1054402 jomama
jomama's picture

http://www.globalanimal.org/2010/11/25/happy-thanksgiving-humpback-whale-gives-thanks-to-divers-for-rescuing-her/24717/

you're poisoning your dog with mercury laden flesh... of course we all know you're lying.

Tue, 03/15/2011 - 04:14 | 1054645 Escapeclaws
Escapeclaws's picture

Jomama, that is very touching. Thanks for posting that, it made my day. Also like the quote from Darwin.

Tue, 03/15/2011 - 00:28 | 1054076 prophet
prophet's picture

Your journey has only just begun.  There is no vengeance, retribution, or reprisal in Gaia.

Tue, 03/15/2011 - 00:27 | 1054078 theopco
theopco's picture

By your own assertion, we are also part of nature, and thus cannot be out of balance with it.

 

Reason- it's your friend!

Tue, 03/15/2011 - 00:42 | 1054165 ruffian
ruffian's picture

what you just said is rediculous....if there are too  man deer in the forest and they eat all the food then nature culls them via starvation......they are part of nature and "ouit of balance" for a time  and nature restores that balance...that is fact....deep thinker you are !!

Tue, 03/15/2011 - 01:04 | 1054304 New Survivalist
New Survivalist's picture

Spelling flame, douche.

Tue, 03/15/2011 - 00:48 | 1054197 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

Why don't you go get a room with James Lovelock and Paul Ehrlich.

Tue, 03/15/2011 - 00:02 | 1053910 sullymandias
sullymandias's picture

tectonic plates is bullshit. expanding earth http://www.nealadams.com/nmu.html

 

Mon, 03/14/2011 - 23:56 | 1053875 Bay of Pigs
Bay of Pigs's picture

Off the med's again?

 

Tue, 03/15/2011 - 00:03 | 1053925 disabledvet
disabledvet's picture

I like you.  Poor me was thinking "this is revenge for the Doolittle raid."

Tue, 03/15/2011 - 00:08 | 1053949 ruffian
ruffian's picture

possibly that as well.......these crisis are warning that we are out of balance with nature and if we dont restore that balance ourselves it will be restored for us 

Tue, 03/15/2011 - 00:24 | 1054058 BigJim
BigJim's picture

New Zealanders don't hunt whales. So why did they just get whacked, dipshit?

Tue, 03/15/2011 - 00:32 | 1054094 ruffian
ruffian's picture

did I not say innocents pay the price.....it is innocents in nature that humans torture so Gaia returns the favor. Do you really not value any other species except human? If so thats exactly why the earth is where it is today....dipshit....you show typical zerohedge/commets  mindless, poorly thought out retort....really quite disappointing. Gaia will restore balance where it see fit. Your line of deductive reasoning is pointless as none of us understand how everything intertwines.

Tue, 03/15/2011 - 01:32 | 1054417 Creed
Creed's picture

"Gaia returns the favor"

"Gaia will restore balance where it see fit"

 

I sat in classes where that retarded shit was taught.

There is no question that gaia is supposed to be a sentient being.

There is also no question that gaia is supposed to be worshipped as a godDESS. Mother Earth, anyone?

Peddle your religion elsewhere.

 

 

Tue, 03/15/2011 - 08:20 | 1054910 Al Gorerhythm
Al Gorerhythm's picture

Shit happens.

Tue, 03/15/2011 - 00:30 | 1054087 BigJim
BigJim's picture

And I suppose when Krakatoa blew its top and killed 40,000+ people, it was because the 1883-era Javanese were out of balance with nature too?

There have been several mass extinctions during the history of the earth. Perhaps you'd care to explain in which abstruse way the trilobites were offending mighty Gaia?

Tue, 03/15/2011 - 00:37 | 1054135 ruffian
ruffian's picture

None of this is for us to know, reason, thread together. We have been separated from our roots in nature for too long to even feel what the earth is telling us. What happened in NZ is  very modest vs the horror movie we are watching in Japan. It is interesting that the heart of the Japanese fishing industry is located at epicenter of this "retribution"?

Tue, 03/15/2011 - 00:44 | 1054184 jomama
jomama's picture

i am not sure if you are 100% correct about what you are stating, but it rings true to me somewhere inside...

at least it's good to know that there are others out there that have not tightened the blinders completely and have the ability to see things from a potentially broader perspective.

Tue, 03/15/2011 - 00:46 | 1054196 Dr. Porkchop
Dr. Porkchop's picture

If you want to place a name like Gaia on it, fine. What you're saying is that the planet is interconnected systems governed by the laws of thermodynamics.

Basically, shit has a way of balancing itself out, as sure as your cup of coffee will eventually reach room temperature. It's just that shit doesnt always balance out fairly. The universe cares not. Or, in the Christian idiom, 'God has a plan'. Or, in the semi secular, I-don't-believe-in-God-but-I-believe-in-a-higher-power idiom, 'Everything happens for a reason'.

Or, in the ZH idiom, Thermodynamics bitchez!

Tue, 03/15/2011 - 00:53 | 1054237 ruffian
ruffian's picture

yes I only explain it as I am able...theromdynamics bitchez ( replacement for gaia) works for me

Tue, 03/15/2011 - 01:07 | 1054328 Ident 7777 economy
Ident 7777 economy's picture

 

Charlie - Charlie Sheen?

Is that you?

 

Back from the world of hookers and blow?

 

 

Tue, 03/15/2011 - 07:45 | 1054807 prole
prole's picture

I guess the takeaway from all this is that everyone is entitled to their opinion, unless you don't like the other guy's opinion.  This might not be the moment, and this might not be the forum to discuss this, but in my opinion, whale hunting is beyond the pale.  I can foresee no circumstance or situation that should require the silencing of this idea. And tiger and bear farming wtf, is nothing sacred?  What's next-- Auction to shoot the last five elephants remaining on the earth, when that day comes?

Tue, 03/15/2011 - 01:06 | 1054285 jomama
jomama's picture

fail ass dbl post.

Tue, 03/15/2011 - 01:12 | 1054347 ruffian
ruffian's picture

I read above and below...dow down X......topix down Y......dollar this, gold that....is this really showing sensitivity to this tradgedy? In fact some here are probably happy but would never admit it because the stock mkt is finally going their way. These deaths and destruction made them some money and I am getting spewed at? Just tryion gto expose people to the idea that horrible tradegies are perpetrated by  man on this earth everyday and we should take pause for those actions the same way we take pause for tsumnami

Tue, 03/15/2011 - 01:27 | 1054401 Michael
Michael's picture

The purpose of me is to become as God is, not as gaia is.

Tue, 03/15/2011 - 02:33 | 1054536 jomama
jomama's picture

hahahahaha the irony is just too much.

Tue, 03/15/2011 - 01:02 | 1054288 jomama
jomama's picture

it very well could be that nothing happens for any reason whatsoever.

hell, i wonder if i just fuck everyone over that i can my whole life that nothing bad will ever happen to me in return.  it's entirely possible.

but the opposite is possible as well.

Tue, 03/15/2011 - 05:06 | 1054672 James
James's picture

I like you, you make me laugh! From movie

"Gung Ho" http://www.youtube.com/watch?v=b66MXfmJRX8

Tue, 03/15/2011 - 03:39 | 1054613 Things that go bump
Things that go bump's picture

Excuse me, I'm no expert on the Bible, but I believe that God himself gave us dominion - yes, I believe that was the word used - over the fish of the sea and the birds of the heavens, etc.  That doesn't mean I condone cruelty to animals, but I believe we are permitted the use of them.  That doesn't mean we can make their lives terrible, but killing them for food is not a sin. 

Mon, 03/14/2011 - 23:33 | 1053712 mt paul
mt paul's picture

curency swaps 

or death...

honorable hedge bytches

Mon, 03/14/2011 - 23:34 | 1053716 Seasmoke
Seasmoke's picture

i dont think many are going to be buying this dip

Mon, 03/14/2011 - 23:34 | 1053717 Caviar Emptor
Caviar Emptor's picture

At this hour: Topix down near 7%.

Hang Seng down 4%. 

China CSI 3%

Taiwan 3.5%

South Korea 2.8%

Australia 2%

Singapore 2.8%

Mon, 03/14/2011 - 23:51 | 1053831 mmlevine
mmlevine's picture

Dow futures -245 (2.05%)

ES - 29 (2.35%)

And falling fast.

Mon, 03/14/2011 - 23:54 | 1053874 MsCreant
MsCreant's picture

In a weird way, this is refreshing. The market is finally getting real. It may be manipulated any way, but at least this is what is supposed to happen.

Tue, 03/15/2011 - 00:10 | 1053971 mmlevine
mmlevine's picture

The circumstances behind why the markets are crashing is a terrible tragedy but I agree - this drop feels real.  Finally, I'm not insane for thinking the market irrational.

Tue, 03/15/2011 - 08:25 | 1054923 Al Gorerhythm
Al Gorerhythm's picture

What, the Fed bailed?

Mon, 03/14/2011 - 23:34 | 1053719 GOSPLAN HERO
GOSPLAN HERO's picture

Pray for Japan!

Tue, 03/15/2011 - 08:26 | 1054925 Al Gorerhythm
Al Gorerhythm's picture

That should fix it.

Mon, 03/14/2011 - 23:36 | 1053722 stoverny
stoverny's picture

We like to pretend we are significant... in reality we are like fleas on a dog.  We are an infinitesimal speck in a tiny corner of an infinite universe.  The idea of asking God to help these poor people is the height of irony.

Tue, 03/15/2011 - 00:03 | 1053916 FrankIvy
FrankIvy's picture

You don't know that.

Tue, 03/15/2011 - 00:03 | 1053922 FrankIvy
FrankIvy's picture

You don't know that.

Tue, 03/15/2011 - 01:02 | 1054290 NrYC
NrYC's picture

Thank you. It is the height of irony and arrogance.

I guess because disasters like these are novelties they warrant prayers for the victims unlike, say, the daily deaths of thousands of children who succumb to starvation and disease.

Tue, 03/15/2011 - 10:40 | 1055562 NrYC
NrYC's picture

3 junks! Father, Son AND Holy Ghost?

Tue, 03/15/2011 - 01:33 | 1054421 Creed
Creed's picture

You don't know that.

Tue, 03/15/2011 - 05:14 | 1054674 James
James's picture

Go about  2/3 thru this to see how small we are in the scheme of things. http://www.youtube.com/watch?v=LpZZ0ObMB0c

Mon, 03/14/2011 - 23:36 | 1053729 chump666
chump666's picture

 - 174 on screen trade (Dow)

ETF slaughter coming your way...

can hear those margin calls now

Mon, 03/14/2011 - 23:37 | 1053733 Paul Bogdanich
Paul Bogdanich's picture

If things get worse (Tokyo irradiated) they are going to have to directly intervene and close the exchange and suspend all currency trading and refuse to honor any trades done overseas.  No transfers.  Period.  Maybe they should have done so already.  This could get very bad for everybody.  I don't think people understand the consequences of globalization.  It's a stupid idea always has been because at its core it assumes nothing ever goes major big time wrong and that people will never have to fend for themselves geographically speaking.  Our starving populations won't even have i-Pads to eat like was being joked about.  If this turns worse that is.  Another large quake 100 miles further South would definitely do us in.      

Mon, 03/14/2011 - 23:41 | 1053746 Misean
Misean's picture

I was unaware you could post such nonsence using stone tablets.

Mon, 03/14/2011 - 23:55 | 1053882 Glass Steagall
Glass Steagall's picture

That's fuckin' funny

Tue, 03/15/2011 - 00:23 | 1054043 sushi
sushi's picture

100 miles further South

And 5,000 further east

would definitely do us in.

Tue, 03/15/2011 - 04:30 | 1054657 Escapeclaws
Escapeclaws's picture

Interesting comment. The whole idea behind CMO's etc was to spread the risk so widely that, in effect, it disappears--hence trash gets rated AAA and everyone is happy. Only a cynical few, including, no doubt, the originators of this logic, saw it for the total BS it is. But accepting that logic meant ignoring systemic risk, which is was the root cause of economic meltdown. So in that sense, globalization = systemic risk. The Japanese economy is TBTF, like the 5 big US banks.

Mon, 03/14/2011 - 23:37 | 1053736 Tric
Tric's picture

So do we know for sure there has been a meltdown?   What happens now?

Mon, 03/14/2011 - 23:43 | 1053761 dwdollar
dwdollar's picture

The question is...  do you believe they would admit at least 4 reactors were in various stages of meltdown?  Everyone in power is in denial.

Mon, 03/14/2011 - 23:56 | 1053885 Tric
Tric's picture

Ugh. 

Tue, 03/15/2011 - 00:07 | 1053941 Cindy_Dies_In_T...
Cindy_Dies_In_The_End's picture

We don't know about #4, but once the water dries up and the rods are exposed, the containment vessels will quickly be of no use sooner than later. So, they have, or are in the process of meltdown, IMO.

 

#4 we don't know enough yet

Tue, 03/15/2011 - 00:32 | 1054103 Aristarchan
Aristarchan's picture

The announcer on NHK just said that the #4 plant caught on fire because the spent fuel got hot and created hydrogen, which ignited. He said the reactor is no longer covered by a building. He was quoting a government source. This is surreal.

Tue, 03/15/2011 - 00:00 | 1053900 blunderdog
blunderdog's picture

Assuming the worst: without any human compassion or polish, you wall off a given circumference around the area.  Everyone who was within a given range is already dead, most don't know it, and you can no longer fool yourself about "containing" the problem.

(Just for the sake of throwing it out there.  Hell was unleashed, and all you can do if you want to survive is stay far enough away.  You can sacrifice yourself to try to add some shielding and make the future suck a bit less for others if that's your thing.)

Mon, 03/14/2011 - 23:37 | 1053738 chump666
chump666's picture

China hit 3% on a sell...US indexes are going down.

 

Mon, 03/14/2011 - 23:41 | 1053749 Bolweevil
Bolweevil's picture

Tyler, you pray? Seriously? I ask because this event has brought about the "no atheists in a foxhole" phenomenon in my circle. I gets my prayer freak-on daily. Vaya con Dios Japones.

Mon, 03/14/2011 - 23:46 | 1053794 Fearless Rick
Fearless Rick's picture

There is power in prayer, but people totally misunderstand it. There is infinitely more relief to the person doing the praying than the object of the prayer.

Tue, 03/15/2011 - 00:19 | 1054023 Bolweevil
Bolweevil's picture

Please elaborate, I'm genuinely interested.

Tue, 03/15/2011 - 00:36 | 1054137 Fearless Rick
Fearless Rick's picture

Since you asked, I'll comply. Just a thought I had swirling around. I pray, to some higher being - in my mind - as a focusing mechanism. Praying focuses my mind on the problem; thus, a solution may be found through it. At any rate, I feel better, as do most people who pray.

They won't admit it, but their prayers, say in grief over a sick friend, do more to make themselves feel better (how often do people say, "I'll keep you in my prayers" and other similar things? Subconsciously, they are telling themselves they are doing good.) than any help it offers the sufferer.

I'm not saying there's anything wrong with praying or faith or that people who attend church or pray often are hypocrites, they simply don't understand what they're doing completely.

In a strange sort of way, maybe that's how it actually works. If you get sick and I pray for you, and then you get better, did my prayers work? Probably not. But I felt better doing it, and if I tell you I was praying for you, you'll think I'm a true friend, and maybe, when somebody else gets sick, you'll try it. Nothing wrong with spreading positive karma. Now, karma, that's something I know works, but that's another discussion.

Short version: If you are in pain and I am empathetic and I pray for you, I relieve MY pain. Better than nothing.

Tue, 03/15/2011 - 00:57 | 1054270 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

Very well said. 

I'll add that a part of the relief for the prayer is that they manage to not think about themselves or their own problems, if only for a moment.

Tue, 03/15/2011 - 01:11 | 1054342 Bolweevil
Bolweevil's picture

Thanks Rick.

Tue, 03/15/2011 - 01:50 | 1054458 CrazyCooter
CrazyCooter's picture

I never thought of prayer in these terms. Thank you for taking the time to share your insights.

Cooter

Mon, 03/14/2011 - 23:42 | 1053752 Monetative Easing
Monetative Easing's picture

What's the over under on the number of people, be it one of their stock talking heads or some bulled up guests, who will get on CNBS tomorrow and claim that this is time to buy?

Back to the human side of this, how many of those who need to "stay inside" still actually have shelter.   SNAFU indeed.  God speed to them...

 

Mon, 03/14/2011 - 23:46 | 1053793 onarga74
onarga74's picture

Tomorrow it'll be different...instead of BTFD its gonna be BTFS (Swan)

Mon, 03/14/2011 - 23:41 | 1053755 Mentalic
Mentalic's picture

BREAKING NEWS: Small amounts of radioactive substances detected in Tokyo

As per Kyodo

Tue, 03/15/2011 - 00:18 | 1054024 trav7777
trav7777's picture

NHK just said no increase in their Tokyo monitoring station, a correction from earlier.

I'd sure like to see those dosimeters that were running in the areas around Fukushima...can't find the link

Mon, 03/14/2011 - 23:43 | 1053769 NullShrub
NullShrub's picture

Good luck Japan.  This is one American who is pulling for you.

Mon, 03/14/2011 - 23:45 | 1053771 SkySavage
SkySavage's picture

CNBC world just flashed a headline saying that minute amounts of radiation have been detected in Tokyo (40x limits), and energy stocks are essentially bidless.  Nikkei -11.5%.  Getting real ugly out there...

Mon, 03/14/2011 - 23:44 | 1053788 Caviar Emptor
Caviar Emptor's picture

Godzilla on the way

Tue, 03/15/2011 - 00:28 | 1054079 sushi
sushi's picture

Reuters carried a French embassy report advising 10 hours before the radiation arrived Tokyo. That would put the arrival time at around the time of the NY open.

Mon, 03/14/2011 - 23:45 | 1053775 Caviar Emptor
Caviar Emptor's picture

Where's Harry Wanger? Last night he said he was going to "back up the truck" and buy stocks. 

:-)

Mon, 03/14/2011 - 23:56 | 1053878 RichardENixon
RichardENixon's picture

He can't find a parking space, it's a huge truck.

Tue, 03/15/2011 - 01:06 | 1054313 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

LMAO

Tue, 03/15/2011 - 00:35 | 1054132 BigJim
BigJim's picture

The tires melted.

Mon, 03/14/2011 - 23:45 | 1053779 Smaug
Smaug's picture

I blame all of this on Godzilla and Megalon.

Mon, 03/14/2011 - 23:52 | 1053846 Caviar Emptor
Caviar Emptor's picture

Don't forget Gamera!

Mon, 03/14/2011 - 23:45 | 1053783 Jim in MN
Jim in MN's picture

I guess I really don't care all that much but since this is Zero Hedge:

Can this blow up the Fed?  And/or the bond market?

Tue, 03/15/2011 - 00:08 | 1053950 Lord Welligton
Lord Welligton's picture

I'm no expert. But.

There isn't a human on the planet who could work out the effect of this on the aggregate derivative position worldwide.

And of course a computer would just fry its chips trying to do it.

Welcome to a brave new world.

Mon, 03/14/2011 - 23:46 | 1053786 BigJim
BigJim's picture

And government bonds are surging. Surely they're going to QE to infinity and beyond after this lot.

Mon, 03/14/2011 - 23:47 | 1053795 Lord Welligton
Lord Welligton's picture

A 100,000 square kilometer area of after shocks.

Not sure Japan can survive this.

Mon, 03/14/2011 - 23:46 | 1053800 bob_dabolina
bob_dabolina's picture

God Bless....

 

Mon, 03/14/2011 - 23:49 | 1053809 franzpick
franzpick's picture

I always thought "Hope for the best, prepare for the worst" was a pessimistic aphorism I would never see both sides of, and here they are.

Our prep list had most everything - except KI.  Iodized salt, bicarb yes. De-contamination supplies?  Too draconian...

Tue, 03/15/2011 - 05:50 | 1054693 thegr8whorebabylon
thegr8whorebabylon's picture

franz, your water purification pills ARE iodine!

Mon, 03/14/2011 - 23:48 | 1053815 Fearless Rick
Fearless Rick's picture

Looks like Uncle Ben now has cove for QE 3, 4, 5, and beyond.

Tue, 03/15/2011 - 00:15 | 1053989 gwar5
gwar5's picture

Rickards reported that the Fed now has enough QE to stop cease any new official "QE" programs since the capital flows can proceed in perpetuity to finance $750 billion/yr, though it's really the same thing. They will have their cake and eat it, too.

Tue, 03/15/2011 - 00:38 | 1054146 BigJim
BigJim's picture

They're going to need to get baking again - this is going to need a serious amount of cake.

Mon, 03/14/2011 - 23:48 | 1053817 Guerette
Guerette's picture

Saying a prayer for Japan tonight....

Mon, 03/14/2011 - 23:50 | 1053821 RebateTrader
RebateTrader's picture

is it a flash crash if theres a justified reason for the move?

Tue, 03/15/2011 - 00:52 | 1054221 RmcAZ
RmcAZ's picture

Have you been hiding under a rock? It's down because of the risk of imminent nuclear meltdown.

Mon, 03/14/2011 - 23:50 | 1053827 Seasmoke
Seasmoke's picture

wasnt it strange that todays trading seemed to be such a ho-hum and now this , which was staring everyone in the face

Mon, 03/14/2011 - 23:52 | 1053841 apeakunderthehood
Mon, 03/14/2011 - 23:52 | 1053859 vainamoinen
vainamoinen's picture

Thank you ZeroHedge!!

quick check at finance.yahoo and marketwatch and no mention yet of what's happening. They'll figuire it out by morning I suppose - - -

Mon, 03/14/2011 - 23:53 | 1053865 onarga74
onarga74's picture

QE1 and 2 will be gone in the first hour.  I'm sure someone will ask if he considered a swan?  Doesn't matter throw that on the pile we owe. 

Tue, 03/15/2011 - 00:00 | 1053870 Sheriff Douchen...
Sheriff Douchenik from AZ's picture

Up your a$$ BOJ...thieving bastards! As the regular folk die and all the BOJ can think about is printing record levels of money.

Is that the solution the every catastrophe now whether financial or other?

Tue, 03/15/2011 - 00:00 | 1053898 Tric
Tric's picture

So what effect will this have on the Yen Carry trade?  Commodities should crash as it unravels right?

 

Not going to trade this, but interested in how the market will react. 

Tue, 03/15/2011 - 00:01 | 1053903 Spiderbird
Spiderbird's picture

US Futures found a bottom at 1261 for now (or at least at Midnight EST)

http://www.finviz.com/futures_charts.ashx?t=ES&p=m5

 

When this is finally done, most of Northern Japan may be uninhabitable for decades.  And it's going to affect everything.  Just terrible.  

Tue, 03/15/2011 - 00:04 | 1053930 Spiderbird
Spiderbird's picture

Well that lasted 30 seconds.  Going further to 1258 and downward.

I wonder if a 100 point drop in the S&P isn't out of the question?

Tue, 03/15/2011 - 00:01 | 1053907 High Plains Drifter
High Plains Drifter's picture

I know this sounds crazy, but could this entire country (Japan), be destroyed by this event? Is that possible?  They are saying that 6 units are in trouble. Many people have been killed already trying to save these units. It is much much worse than Chernobyl ever was.  This is a major black swan event of epic Biblical proportions. Will they have to evacuate the entire island?  It is insane what I am hearing about this. Those idiots were storing used fuel rods in pools in those buildings. These rods are much worse than the ones they were using for primary rods. Who in their right mind would store such things in these plants? Again ,it is totally insane.

Tue, 03/15/2011 - 00:07 | 1053955 blunderdog
blunderdog's picture

Short answer to the first question is no.  But it could be way fucked. 

The Civil War didn't destroy the USA, and WWII didn't destroy Germany.

Tue, 03/15/2011 - 00:13 | 1053985 RichardP
RichardP's picture

... storing used fuel rods in pools in those buildings ...

Standard operating procedure.

It is much much worse than Chernobyl ever was.

Hyperbole, right?

Tue, 03/15/2011 - 02:02 | 1054485 CrazyCooter
CrazyCooter's picture

This is why there is a constant struggle over Yuca Mountain. After screening out all other storage areas for various reasons, its pretty much Yuka or bust.

Uranium based reactors have this problem. My understanding is the rods are "damaged" by use. This is one of the key advantages of a liquid molten salt reactor design, as the fuel can be burned much more completely.

Anyway, as far as the rods go, think of a cigarette. If it hasn't been smoked, you can handle it. If you smoke it, its ash and falls apart. As the fuel in the rods burn up, the rod loses structural integrity just like the cigarette burning up. They only every burn like 30% of the fuel in a given rod before pulling it. Sort of like smoking 30% of the tobacco in the cigarette.

Reprocessing the rods into new rods involves plutonium, which is also produced by burning the rods. Reprocessing is often not done for security reasons.

So they just pile em up on site. Given the age of this site, the amount of fuel laying around is probably a fact we don't want to hear.

Cooter

Tue, 03/15/2011 - 00:25 | 1054062 Jim in MN
Jim in MN's picture

If they contaminate an area even one-fifth as large as Chernobyl the Kanto Plain, the largest flat arable area in Japan, could be severely affected.  In a country the size of Montana. 

That is about as bad as it gets without your country being destroyed.  Combine a partial loss of Kanto with the tsunami impacts and it's close to a nuclear strike.

Of course the country will go on.  The USA would even if we lost both coasts (which was the plan under Mutually Assured Destruction as I am sure you are well aware). 

That is the crux of my analysis over the past several days, concluding that all other business should be dropped in order to entomb these units before widespread contamination occurs.  The seawater was the last ditch effort, the bottom of the toolbox.  OK.  Let's move on to the next option, not wait.

Or at least let's see the fucking PLAN for entombments.

Tue, 03/15/2011 - 00:33 | 1054107 High Plains Drifter
High Plains Drifter's picture

They are saying 6 units are in meltdown and are talking about the possibility of this stuff melting down into the earth and what this means? Man this is some insane stuff. Would entombments do any good under such a circumstance? Once it is out of its container, it is free to go wherever it wants , no?  they say it will stop in the lower water table whatever that means. This whole area is lost for 25,000 years.

Tue, 03/15/2011 - 00:44 | 1054182 Jim in MN
Jim in MN's picture

It's not as insane as a thermonuclear war.  But it is insane.  It's far from clear what might happen if there is a full meltdown and loss of containment.  The nightmare has always been molten core hitting water and dispersing widely in a steam explosion.  But we don't know a whole lot about dropping large globs of molten metal into random patches of the landscape.  Maybe it burns a sort of burrow for itself and just sits there.  Who the hell knows?  Ever see those crazy fused channels created when lightning hits sand?  You can wave them around like tree branches. 

Maybe Gaia has a protective mechanism after all. 

Maybe the grace of God abides.

Maybe it will just cool down and sit there like a wet firecracker.

Tue, 03/15/2011 - 02:09 | 1054496 CrazyCooter
CrazyCooter's picture

Actually, Gaia is just interested in the plastic bags. It is all about the big electron.

http://www.youtube.com/watch?v=EjmtSkl53h4

Sort of inappropriate, but some levity in times of crisis. And we are insignificant even in our own solar system.

Cooter

Tue, 03/15/2011 - 00:29 | 1054082 Aristarchan
Aristarchan's picture

Reactors in the US also store spent fuel rods in the reactor building.

Tue, 03/15/2011 - 00:35 | 1054127 sushi
sushi's picture

Japan is a series of narrow islands. If the wind blows to the west there is the possibility of the contamination making ground travel difficult if not impossible up and down the island chain.

A bigger concern should be for the folks in the northern area who were hard hit by the tsunami. Four days of little food, fuel or shelter with night temps below zero and likely bad or contaminated water supplies. They are going to start loosing tsuanami survivors if they fail to co-ordinate aid deliveries.

Tue, 03/15/2011 - 00:04 | 1053919 Monetary Lapse ...
Monetary Lapse of Reason's picture

Looks like everything is getting sold at the moment....

Tue, 03/15/2011 - 00:04 | 1053920 Johnny Lawrence
Johnny Lawrence's picture

Of course they are.  It's been the most anti-contrarian trade to be bashing bonds.

Tue, 03/15/2011 - 00:05 | 1053927 cocoablini
cocoablini's picture

Why even fucking open the markets!
The whole YEN trade is going to go parabolic, the industries are toasted. A whole country just went tits upand they are still trading this crap?
And pray for all of us, because Hiroshima is paying us BACK in 3 weeks when the radiation hits here.
Thanks General Electric for your shitty generators and machines! Assholes

Tue, 03/15/2011 - 00:18 | 1054005 RichardP
RichardP's picture

... in 3 weeks when the radiation hits here.

There has to be an explosion vigorous enough to throw radioactive particles nine miles high to reach the jet stream.  Then, the radioactive particles must be numerous enough to survive the dilution of traveling 5,000 miles to the U.S. - for them to be a threat to us.  Neither scenario is likely to happen.

Tue, 03/15/2011 - 00:04 | 1053929 PeterB
PeterB's picture

I think the US market will close shortly after open

Tue, 03/15/2011 - 00:07 | 1053946 High Plains Drifter
High Plains Drifter's picture

You know it. I think this black swan event will crash our markets too.

Tue, 03/15/2011 - 00:06 | 1053944 gerriek
gerriek's picture

AUD also crashing. Even the RBA governor's denial of the Australian housing bubble won't help this time:

http://www.moneymorning.com.au/20110315/dismal-economists-and-spruikers....

Credit to Money Morning Australia.

Tue, 03/15/2011 - 00:17 | 1054004 trav7777
trav7777's picture

yeah, the AUD is getting just smashed.  Gold now down 18

Tue, 03/15/2011 - 00:27 | 1054071 chump666
chump666's picture

all central bankers are idiots...ask him why the F*** no one wants AUST bonds?  Especially now with japan going into a meltdown fiscal/nuclear/monetary/inflation.

Asia pacific is toast.   USD is going into outer-space, unless crazy man Bernanke starts to pump it...

Tue, 03/15/2011 - 00:09 | 1053956 gerriek
gerriek's picture

AUD also crashing. Even the RBA governor's denial of the Australian housing bubble won't help this time:

http://www.moneymorning.com.au/20110315/dismal-economists-and-spruikers....

Credit to Money Morning Australia.

Tue, 03/15/2011 - 00:09 | 1053957 disabledvet
disabledvet's picture

This is a great buying opportunity and i believe that...although you may take my "belief system" for what it's worth.  I do not aim to "sell you something" as they say but have "full faith and credit" in your ability to decide for yourself and that "indeed you will do so" even in the making of a dishonest buck.  America likes nothing better than to "shine itself" and I believe "shine it will."  I believe the technical term are "my frienimies" and "that is all I have and all I know."

Tue, 03/15/2011 - 00:15 | 1053961 trav7777
trav7777's picture

who's got the link with all the dosimeters all over the region?

BBerg has N225 down "only" 1000 now.

Gold getting hammered, oil, silver, PMs, everything not nailed down...kitco has DXY up .13 lol

yen must wanna go chernobyl

 

Edit:  NHK reporting that Tokyo not seeing increase yet in radiation, other places not seeing it either.  Wanna see current dosimeter readings from areas near Fukushima.  Reporting is showing exception radiation levels right near the bldgs, but falling off rapidly, thought I heard below 100mSv down in between a couple of the bldgs...dunno about the front gate which was at 8mSv previously.  This would help in an understanding of the scope of any propagation of radionuclides

Tue, 03/15/2011 - 00:14 | 1053981 Itsalie
Itsalie's picture

It's time to pull out that mass evacuation plan, maybe move people a few hundred miles away because of the possibility that a big after-shock in the next few days or weeks could turn this from a 4-reactor failure into "end-of-north eastern Japan" scenario. I hope they have some sort of plan, because news feeds keep repeating people in NE are still not getting food and water after 5 days. Japan is long but not wide, they can move people across the western side then move them north or south along the coast. People must be thinking out of the box now, and screw the manipulators, shut the freaking markets down and tell JP morgue to go home.

Tue, 03/15/2011 - 00:18 | 1053990 reader2010
reader2010's picture

Isn't it odd that the whole thing happened on 3/11?

Sell in March and go away?

Here is what's gonna happen in NYC in early April.

http://www.newsday.com/news/new-york/nyc-li-cops-team-up-for-dirty-bomb-drill-1.2753287

Tue, 03/15/2011 - 00:16 | 1053999 gwar5
gwar5's picture

Prayers for Japan. It just gets worse and worse.

Tue, 03/15/2011 - 00:20 | 1054003 CitizenPete
CitizenPete's picture

Volcano erupting in Japan now???? Damn, I didn't see this before.

 

http://www.youtube.com/watch?v=TxUjK0C71yE

 

This can't be happening.

Tue, 03/15/2011 - 00:25 | 1054056 jomama
jomama's picture

it's not, the user hitosi49 uploaded this and many other volcanic eruptions some time ago.  check his youtube page...

Tue, 03/15/2011 - 00:41 | 1054154 CitizenPete
CitizenPete's picture

Hopefully not.  The video was posted on March 13th - 2 days ago.  The description of the video describes the current events.  

You don't believe this is current?

Tue, 03/15/2011 - 00:18 | 1054027 Monetary Lapse ...
Monetary Lapse of Reason's picture

Watching the Nikkei tick down on Yahoo Finance... just surreal... finding a few buyers at - 13.2% right now...

Tue, 03/15/2011 - 00:19 | 1054031 franzpick
franzpick's picture
If a 9.0 EQ / tsunami / nuclear meltdown doesn't justify force majeure, what does                         Since the post-credit collapse equity recovery I've been envisioning BenHubris creating a circumstance under which he could close the markets, freeze (fraudulently high) asset prices, protect insurance cos., banks and others, and if does it now, I'll have to increase my BP meds.
Tue, 03/15/2011 - 00:19 | 1054034 prophet
prophet's picture

The ineptitude is staggering.  The tragedy is all too familiar. 

As mentioned on an earlier thread, material staging by sea has not even started.

It will continue way past the event too. 

Aside from discerning whether the overall positives outweigh the negatives of life, er I mean nuclear power I liken the current reaction on nuclear power to the following:  Car accidents in the U.S. used to claim almost 50k people per year.  Now its a third of that.  An old car on the road that was not maintained very well is involved in a horrific accident and now the future of cars is in doubt.  Presidents are announcing and demanding immediate safety inspections - what the hell was being done before?  Total lack of instrumentation and enforcement across the board.  Zero sense. 

Tue, 03/15/2011 - 04:24 | 1054652 Lord Koos
Lord Koos's picture

Comparing a car wreck to the creation of poisons that can hang around 1000 years?  I don't think so.  You don't get many chances with a nuclear accident.

Tue, 03/15/2011 - 01:16 | 1054036 ebworthen
ebworthen's picture

 

They are going to lose the whole facility.

I can't believe the BULLSHIT in the Main Stream Media (MSM)!!!

Hello!?!?!?

I did not just fall off the turnip truck!!!

OMG

Placid video of quiescent reactor tanks taken a couple of years ago trotted out and claimed to be from the #1 and #3 reactors on PBS.

Then, after that, they trotted out JOHN DENVER to beg for donations.

My GOD they are desperate.

I love John, don't get me wrong, but to trot out his REQUIEM performances is a little too much of a hat tip, no?

And...AND

One of the "experts" on the PBS News Hour said "This is Japan's Chernobyl" and talked for a couple seconds then said "...wait...I mis-spoke...this is Japan's Three-Mile-Island".  I'm paraphrasing but it was a HUGE Freudian slip and you could see it in his eyes.

Cramer was pumping the markets, equities, CAT, and the "Recovery" as the DOW futures said "-213".

Where is the Mad Hatter? (besides Cramer)...

 

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