Overnight Recap: Japan's Nuclear Crisis Leads To 'Panic' - Nikkei Crashes 17% In 2 Days, Japanese Default Risk Rises to Record, Gold Down 1% in $

Tyler Durden's picture

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strannick's picture

"Gold down 1%".


ivana's picture

COngratulations to phisical gold owners. But battle has just started

Ray1968's picture

Today would be a good day to load up on some more.

The dollar printing will not stop.

PY-129-20's picture

"May rice up 36.5 cents to $13.375 per 100 pounds"

More pressure on the FPI. Just what we needed. This won't end well.

malikai's picture

I propose we no longer call the USD dollars but from now on we call them LOLers. In the coming weeks with QE3, we'll have full justification for the new term.

pslater's picture

I highly suggest listening to this MP3 audio interview with Jim Rickards.  We won't get QE3 - we'll get someting infintely worse........



trav7777's picture

3% now...only showing life in AUD, ZAR, and CAD

robertocarlos's picture

I am a meat popsicle. I am not happy that the CDN dollar lost 2 cents. 

Cindy_Dies_In_The_End's picture

geez Trav, do you ever sleep?

ivana's picture

Yesterday BOJ yields dropped but today spiked up on short end:
2Y - 5Y - 10Y
0.22 +19.3% 0.51 +4.9% 1.22 +1.0%

Henry Chinaski's picture

Ya shoulda been here yesterday...

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Good luck trading, y'all.

Oh regional Indian's picture

Now multiply all this by a factor of three, since the screw has turned only once yet.

How ready are you? Gold silver of guns going to save you?

Force majure is the great leveller. here's hoping that we are each searching deeply for the lessons embedded here.

In India, cricket fever is the only thing noticable. When it hits here....*shudder*

Consolidation time, all around. What a TIME!!!




sudzee's picture

The world will get richer today by at least 10 trillion. CBs busy entering new digits to balance sheets. Won't be any inflation because the masses will have no way of accessing the wealth created. Everything is just peachy.

xPat's picture

This is completely nuts-o panic selling! Oil should be UP, not down, but is crashing on what appears to be pure fear-driven panic.

So nuclear power is almost certainly off the table for a long time to come, Japan is in ruins and needs to be rebuilt (read: huge energy demand in the LONG run), and war is breaking out in the middle-east. And oil is crashing. WTF are traders smoking?


Johnny Lawrence's picture

Disagree.  Speculative money has been pouring into commodities since QE2 started.  It's all unwinding now.

Corduroy's picture

My bet is that in a couple of weeks the talking heads will start telling us how a single currency and a single market will be better for everybody and avoid all of the dilemas in the markets that we currently face....

In every war you need to be ready for every eventuality and this Swan can be used to push the globalist agenda oh so nicely...

My thoughts are with the people of Japan.

honestann's picture

Yes, we wish the people of Japan the best of luck.

The world should have a single currrency.  I'm all for that!

But only one world currency is viable and ethical.


Anything else is a pure, unadulterated, totalitarian SCAM.

All fiat is predatory trash.

TexDenim's picture

What scares me most is not the fuel still in the reactor -- that is to some extent insulated by the control rods. It's the unspent fuel sitting in pools of water in storage. If those pools start to leak, as has been reported, they will heat up and burn, spewing toxic radioactive waste as smoke across the land. What a mess.

FoieGras's picture

I see there's no flight to the "safety" of silver today?

trav7777's picture

Gold now down $44...smashed.

Silver, platinum, oil, everything...sold.

AUD smashed too

honestann's picture

Do you realize how many of these little "smashes" I've "suffered" since buying gold at $300 and silver at $4 years ago?

Everytime they get "smashed", I convert all the fiat that has come my way since the last "smash" into gold and silver.

All these "smashes" have me laughing all the way to the... well... not the bank, because I don't trust them!


Long live the "smash"!

burncycl's picture

++1....Amen honestann. My safes are loaded on this mindset. I also continue to accumulate. I dare not worry. In addition I've been working on food security, among other important (perhaps esoteric) issues. Keep truckin.

jesse livermoore's picture

this all margin call selling  gold and silver will snap back

trendybull459's picture

People get together,anyone who cares about basic problem of our existance FED invited to vote in our poll and read out latest comments on yahoo FED article about QE3:


Voting poll is waiting for you click,take 5sec to make your choice,we must to reach critical level to be recognised by others to tove too!Thank you and keep all us together regardless government effords,we appreciate if you link us to other polls,blogs,sites to let people or your friiends to vote FED existence

Cindy_Dies_In_The_End's picture

Yeah a voting poll...that will bring the fed to its knees (eye roll)