Tokyo Exodus Part 3: ATM Shutdowns, Power Outages Put Citizens On Edge, Gold Hoarded In Evacuation Preparations

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Thu, 03/17/2011 - 07:39 | 1065851 Broken_Trades
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2$/Oz - Thats the premium for Armageddon in Japan????


Im selling all my gold now... 

Thu, 03/17/2011 - 07:45 | 1065865 TheGreatPonzi
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Gold is not supposed to protect from an 'armageddon'. Only an hyperinflation. 

I don't think gold around Chernobyl was very useful. But if you had food/water or iodine pills, you could have made a fortune in the black market.

Thu, 03/17/2011 - 07:50 | 1065878 Broken_Trades
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The premium i pay in Canada is much more than 2$/Oz.

If ATMs stopped giving out money, I think gold would become more valuable don't you?


TD:  Is this a typo?  2$/oz is a rounding error, its not even worth mentioning.

Thu, 03/17/2011 - 07:54 | 1065887 TheGreatPonzi
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"If ATMs stopped giving out money, I think gold would become more valuable don't you?"

If cash stops being given out by ATMs, then cash becomes scarce. 

In this condition, cash gains value against other goods. At least temporarily (because a bank holiday is often the harbinger of coming paper repudiations/CB monetizations). 

Thu, 03/17/2011 - 08:04 | 1065920 Broken_Trades
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Thu, 03/17/2011 - 12:35 | 1067014 h3m1ngw4y
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does anyone of you know the size of the gold bars? perhaps 2$ premium is a lot. lol only thinking in ounces ^^

Thu, 03/17/2011 - 07:54 | 1065891 Sudden Debt
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I think he means 2% per GRAMM.

Here  in europe I pay 40$ premium on 1 ounce.


Thu, 03/17/2011 - 08:30 | 1065988 i-dog
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"At the second-floor office of the Tokyo Passport Centre in the city's Yurakucho district, queues snaked to the first floor."

Wow!! ... Armageddon indeed! ... in a metropolitan area of 35 million people, the queue for passports stretches for one whole floor?!! ... wow, like ..... errrrm ..... 35 people?! That's what I call a mass exodus!!

Someone needs to get a grip.

Thu, 03/17/2011 - 08:14 | 1065947 UGrev
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Money, was worthless after Chernobyl. My neighbor who is from Ukraine said they didn't have much before "The Chernobyl". They owned a farm and raised chickens. Most of the rurual economy was farming. Their economy was destroyed after "The Chernobyl" and then again following the dissolution of the Soviet Union in 1991. But because they had a farm and raised chickens, they became rich and then moved the hell out of there. 

Farms and Chickens made them wealthy enough to be able to pack up and leave. I have a wonderful resource in them that I am using as a sounding board. I'll give more details after I talk with them more.

Btw.. I just have to say that so far, EVERY Ukranian I've met in their community has seemed more American to me than the Americans that were born and raised here. Just thought I'd throw that out there,  because quite honestly... if a SHTF scenario ever happened here, I sure wouldn't be hanging with the Jones' 2 houses down. 

Thu, 03/17/2011 - 08:21 | 1065961 mogul rider
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Gold protects in all cases, in all situations, in all countries.

Don't confuse CNBC knucklehead talk with the truth.

It is the ultimate protector - period.


Thu, 03/17/2011 - 16:43 | 1068251 Edmund Dantes
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Thu, 03/17/2011 - 08:29 | 1065983 snowball777
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You don't find 55T Yen in under a week to be 'hyper'?

Thu, 03/17/2011 - 12:23 | 1066972 Ahmeexnal
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A mithril suit will protect you against anything.


Thu, 03/17/2011 - 07:40 | 1065853 Ozzie
Ozzie's picture

Yep $2/ounce is much less than we pay in Australia and there ain't no panic over here.

Thu, 03/17/2011 - 07:44 | 1065861 prophet
prophet's picture

A crane with a hose and camera - no.

Equipment staging - no.

Fast build shelters for displaced population - no.

ROVs -  no.

Mindbogglingly tragic.

Thu, 03/17/2011 - 09:29 | 1066229 eddiebe
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I'm starting to think that the Japanese are totally inept, or at least the people supposedly in command are.

 I believe they got so hammered at the end of WW2 and have since been made to toe the line by the Anglo Empire that they just are not capable to deal with any black swan event.

 Sadly it kind of reminds me of how U.S. authorities dealt with the aftermath of Katrina.

 Starve the beast!


Thu, 03/17/2011 - 07:48 | 1065872 eigenvalue
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I suggest using 100 hydrogen bombs to wipe the nuclear plant out. Everything will become particles during the bombing and the Japanese won't have to worry about nuclear leakage from this plant any more.

Thu, 03/17/2011 - 07:50 | 1065874 sangell
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Are the Japanese the 'solution' to Americas foreclosure crisis? Offer one permanent residency visa if you buy a GSE or HUD REO property of $150,000 or more.

On a more serious note, we may well have to offer refuge to millions of Japanese, should Tokyo etc, be rendered uninhabitable.

Thu, 03/17/2011 - 08:22 | 1065968 bob_dabolina
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How bout this:

For every $150,000 of US debt forgiven 1 Japanese family gets a home equal to $150,000

Two birds, one stone.

Thu, 03/17/2011 - 09:34 | 1066239 eddiebe
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Sell them Nevada for 50 Trillion dollars( minus mineral and water rights of course ).

Thu, 03/17/2011 - 07:51 | 1065877 Judge Judy Scheinlok
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We need a website to match refugees with sponsors. Japanese are good peoples.

Get on it Sacrilege, ya bum.

Thu, 03/17/2011 - 07:53 | 1065888 Sudden Debt
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Japanese are good people until they turn into immigrants.

And once they are immigrants, they aren't people anymore but a statistical number and needs to go down.




Thu, 03/17/2011 - 09:20 | 1066182 GrouchoNotKarl
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Don't junk this man because he speaks the sad truth.

Thu, 03/17/2011 - 10:50 | 1066544 Eddie Stobart
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No he's a simple racist.

Thu, 03/17/2011 - 11:09 | 1066611 Creed
Creed's picture

No he's a simple racist.


Racism is the knee jerk cry of the public school liberal.

Accusation is proof.

My real life observations have shown me that members of the Democrat party in America are the most racist Americans, beginning with the blacks who hate whites & take every opportunity to say so. 

The poster said Japs are good, moron, but your ADHD brain simply didn't see it.

Thu, 03/17/2011 - 13:13 | 1067170 Eddie Stobart
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And who is "liberal" the knee jerk cry of?

Well we can talk about me, I'm fascinating. If saying "racist" makes me a pinko liberal lesbian I'll wear the badge, the hat and the sensible shoes.

I made the accusation on the following argument:

"The Japanese as a race and culture are unique in that unlike other races they are good, but they transform when they become immigrants and become bad."

That statement is either true and there is conclusive evidence for it. Or it is an opinion based on conjecture. If there was evidence then I assume it would be widely known. Since there appears to be no evidence then the statement is simply a blinkered opinion which serves to separate the Japanese apart from all other races as being less trustworthy. So the holder of that opinion can be regarded as a bigot.

I will withdraw my accusation and apologise when I see the evidence.

Fri, 03/18/2011 - 16:02 | 1073030 gruden
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Take a look at the American concentration camps.  The ones they herded the Japanese immigrants into during WW2.  They were not treated like human beings. 

Thu, 03/17/2011 - 07:51 | 1065879 QQQBall
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Where is the Black Twinkie? Mocha outside, chickenshit core. Rio? Great!

Thu, 03/17/2011 - 07:52 | 1065883 Sudden Debt
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silver bullions are now really almost everywhere sold out.

Give it another year before the herd wants some to when silver and gold become currency once again and we'll be looking at prices for the PM never seen in history.

Thu, 03/17/2011 - 08:05 | 1065924 virgule
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I was surprised to see silver coins and bullion bars freely available for sale in Shanghai recently (reputable gold dealers, not street sellers...), in no apparent limit (retail - I didn't ask for 500kg)

I was also surprised by the premium for physical, with 1z silver maple leaf selling at USD equivalent 50++

Made me think twice about buying any such coins. Perhaps I should have?

Thu, 03/17/2011 - 08:34 | 1066006 snowball777
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As long as you know someone dumb enough to take Tungsten for the real deal. Why not?

Thu, 03/17/2011 - 10:18 | 1066417 GubbermintWorker
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You'd really worry about tungsten cored coins? I've yet to see a credible report of even one coin with a tungsten core. Could you provide one please?

Fri, 03/18/2011 - 10:38 | 1071295 Eager learner
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tungsten no, iron yes.

Counterfeit coins from China turning up in Wash. state

Thu, 03/17/2011 - 09:56 | 1066336 Rich V
Rich V's picture

At $50 an oz there will be no shortage of coins to buy.

Thu, 03/17/2011 - 16:46 | 1068266 Edmund Dantes
Edmund Dantes's picture

you are a fool and a homosexual

Thu, 03/17/2011 - 07:53 | 1065889 Larry Darrell
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Moving that many people will be even more fun with Brent crude ticking back up and touching $113 again already because we all know that neither cars nor planes need oil derived fuels.

Thu, 03/17/2011 - 07:55 | 1065893 Poor Grogman
Poor Grogman's picture

Would have

Could have

Should have


Thu, 03/17/2011 - 08:02 | 1065912 gwar5
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Wonder how much gold and cash $Y the Japanese can take out of the country, declaration wise, and per any capital controls.

Anybody know?

Thu, 03/17/2011 - 08:06 | 1065928 deadcow
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20 workers from the power plant have been diagnosed with severe radiation poisoning. ARD cites IAEO as the source of this information. tepco released a document a couple of hours ago stating that 14 of those workers have not been contaminated. this is getting ugly.

Thu, 03/17/2011 - 08:08 | 1065932 Freewheelin Franklin
Freewheelin Franklin's picture

The resilience of those living in the Japanese capital has been beyond admirable.


Admirable, indeed. If that had happened in the US, there would be widespread looting. NY blackout, LA Riots, Hurricane Katrina, etc. The US has a long history of looting.

Thu, 03/17/2011 - 09:08 | 1066117 ibjamming
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Yup...Japan doesn't have the ni@@er problem we have...

Thu, 03/17/2011 - 11:14 | 1066639 Creed
Creed's picture

lol, now that's fucking racist


factual...but the purposeful use of inflammatory words is racist




Thu, 03/17/2011 - 08:11 | 1065941 snowball777
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Flight to Safety: Radioactive Edition

Thu, 03/17/2011 - 08:19 | 1065945 Eddie Stobart
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I have relatives in Tokyo and they are not panicking. On the contrary there is an atmosphere of relative tranquility. A lot of people staying at home because they have been told to by their employers because of the power outages. And there is queuing at many stores. But queues are quite common in Tokyo - there are 12 million people there.

Stories of danger, crisis and panic make for good news copy. And in the way CNBC spins bad economic news into good CNN spins a set of unfortunate circumstances into armageddon. (What is the criterion for deciding whether a story is true or not? Whether it makes the world seem like more of a shit place to be.)

You predict Tokyo will be a ghost town. Nonsense.

Thu, 03/17/2011 - 08:32 | 1065999 snowball777
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If the residents of Tokyo had any sense, they'd already be on the far side of the island; pray towards heaven...row towards shore.

Thu, 03/17/2011 - 09:00 | 1066088 Eddie Stobart
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But that would be a knee-jerk reaction borne of ignorance and fear.

Tokyo is 150 miles away from Fukushima. And, in even the worst case there will be a permanent 50 mile exclusion zone around the reactors.

I'm sure they will have plenty of opportunity to abandon the city if something really bad happens.

Thu, 03/17/2011 - 11:17 | 1066661 Creed
Creed's picture

Eddie, your anecdotal evidence is interesting, but statistically irrelevant.

As far as worst case goes, you have no idea what you're talking about.

I posted a NY Times article here the other day with a 1997 study that showed worst case with these types of reactors makes Tokyo a dead zone.

Your friends should go on vacation to your house for a while, just to be on the safe side.

Thu, 03/17/2011 - 12:13 | 1066919 Eddie Stobart
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I meant "worst case" as in it is not considered rated as bad as Chernobyl so a similar exclusion zone will do. Not "worst case" as in everone abandons the reactors, lets them disintegrate and watches the fireworks from a safe distance.

They are welcome but they don't get CNN or any other US news media so they are content to stay where they are.

Thu, 03/17/2011 - 08:53 | 1066060 tmosley
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If it's so normal, why are the shelves empty?  Why are the banks evacuating their employees?  Why have all the executives in the country fled for Hong Kong?

Your normalcy bias is among the worst I have ever seen.

Thu, 03/17/2011 - 09:42 | 1066124 Eddie Stobart
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The shelves are not empty. Work it out. Why would people queue for an empty shelf?

"All the executives." Every single one? Well go ahead and name one.

Having spoken to my relatives (actually my wife's relatives) and friends who live there I'm only passing on the information I have. If being in direct contact with people who are experiencing the situation first hand skews my sense of perspective then, ok ... yes I'm biased. Besides I'm not saying everything is normal, (they have just experienced a massive earthquake) I'm just saying it isn't panic.

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