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Japan Rice Futures Surge 40%, Trigger Circuit Breaker On Concerns Fukushima Radiation Will Destroy Crops

Tyler Durden's picture




 

70 years after rice futures trading was halted on the Tokyo Grain Exchange, it was finally reopened today... only to be halted immediately. The reason: concerns that Fukushima radiation would destroy rice crops and collapse supply sent the contract price soaring from the reference price of Y13,500 to a ridiculous Y18,500 at which point it was halted. Note the tick chart below which puts any of our own stupid vacuum tube-induced HFT algos to outright shame. That said, the move should not come as a surprise at least to our readers after we predicted the day Fukushima blew up (and even before) that very soon rice prices would surge to record highs. Little by little, that realization is dawning on everyone.

More from Bloomberg:

The exchange listed rice contracts today for the first time since the start of World War II to boost flagging volumes and profit. The resumption comes as fallout from the Fukushima Dai- Ichi power plant may spread after it was found cattle had been fed cesium-tainted rice straw.

 

“People are very concerned that rice supplies may be smaller on fear of radiation contamination,” Nobuyuki Chino, chairman of the exchange’s rice futures trading committee, told reporters in Tokyo. “This was reflected in the prices,” said Chino, who is also president of Tokyo-based grain company Continental Rice Corp.

 

Commercial stockpiles of rice, a Japanese staple, may drop to the lowest level in four years in 2012, after the March earthquake and nuclear disaster curbed production, possibly spurring the government to release its reserves, according to the agriculture ministry.

 

Faced with criticism from consumer groups and opposition party politicians that lax government control has endangered food safety, the ministry has tightened rice screening before the harvest begins in eastern Japan.

 

The government ordered Fukushima and 13 nearby prefectures to test rice samples before the harvest. Authorities will ban shipments from areas where they find grains containing cesium exceeding 500 becquerels a kilogram. Rice production in Fukushima and neighboring Ibaraki, Miyagi and Iwate prefectures amounted to 1.56 million metric tons last year, out of the country’s total of 8.5 million tons.

Sadly, this development means that Thailand and Vietnam, and the rast of the major rice exporters, are suddenly going to find they have quite a bit in marginal pricing power for this core Japanese staple. It also means that food riots may be imminent if indeed, as futures indicate, the price of rice is about to jump by 40%.

 

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Mon, 08/08/2011 - 00:25 | 1535630 Bindar Dundat
Bindar Dundat's picture

Poop!  This stuff is getting serious! (Millions will die)

Mon, 08/08/2011 - 05:05 | 1536007 mophead
mophead's picture

Bitchez,

Did I not say to expect food prices to rise because of fukinshima? All these little disasters are either purposely created or hyped to drive up prices. And as I've said before, over and over, expect this shit to continue around the world. What people don't understand is that it's not that simple to create price inflation through money printing. And driving up the price of oil has its limits, especially if you live in say, California. Sometimes you just have to disrupt the supply chain of whatever it is you're trying to manipulate. In the case of food, it's not that hard, you do it through droughts, contamination, environmentalism (quotas on water), etc.

Edited: Oh, btw, if this stuff catches on, expect other crops, FAR FROM JAPAN to be affected, such as in California, Oregon. Watch and see, you heard it right here.

 

Mon, 08/08/2011 - 05:37 | 1536198 goldfish1
goldfish1's picture

Edited: Oh, btw, if this stuff catches on

Be specific what you mean by "this stuff".

expect other crops, FAR FROM JAPAN to be affected, such as in California, Oregon.

Specifically, what crops?

 

Mon, 08/08/2011 - 08:10 | 1536392 FEDbuster
FEDbuster's picture

Let them eat cake (just not rice cakes).  Rice was $19. /50 lb bag at Sam's Club yesterday, guess I'll go down and buy a couple more bags for the bunker.

Mon, 08/08/2011 - 09:47 | 1536717 sullymandias
sullymandias's picture

Millions will die? A million is 0.015% of the world population. Sorry, you haven't scared me yet.

Mon, 08/08/2011 - 00:24 | 1535631 TruthInSunshine
TruthInSunshine's picture

Totally and gratuitously OT, but if anyone sees RoboMomoFaderTrader, tell him gold called, and said "Beeeeeeeoooootch!"

Mon, 08/08/2011 - 00:42 | 1535726 UGrev
UGrev's picture

Epic... :D

Mon, 08/08/2011 - 00:29 | 1535648 Doyle Hargraves
Doyle Hargraves's picture

The real effect of the G7's statement on liquidity: Food riots, SHTF, Bitchez!

Mon, 08/08/2011 - 00:57 | 1535798 franzpick
franzpick's picture

Since Lehman, I have accumulated in an AC'd storage unit of 1 year's food supply for 22 otherwise totally unconcerned family members; now I am realizing that I, and my prepper friends and family, when the riots start, may have to maintain an armed defense of that storage unit.

We'll be totally outnumbered and outgunned by the local gangs, and my immediate plan B is to arrange a truck transfer of the food storage items to a nearby, isolated, mountain retreat, but it looks like the 'you can run but can't hide' scenario may be developing.

Mon, 08/08/2011 - 01:20 | 1535899 AhhhItBurns
AhhhItBurns's picture

Be sure to have a contingency plan for when the supplies runs out. Seed and drinkable water will play a crucial role. Seeds are also one of the things to be overlooked as soon as SHTF and the herds run with whatever they can get their hands on in the supermarket.

Mon, 08/08/2011 - 02:24 | 1536054 dolly madison
dolly madison's picture

I've been stocking up on small animals myself as well as seeds.  I have dwarf dairy goats, chickens and rabbits.  It's important for where I live, the high desert.  Our growing season is short.  I will need to depend more on animals.  Rabbits are a good choice.  They can be kept as pets anywhere.  They are small for travel, make meat out of eating things that you can't, and breed quickly.

However, I think we all still have some time.  The end is not here yet.  Right now, most food futures are down.

Mon, 08/08/2011 - 07:19 | 1536305 Thomas
Thomas's picture

gerbils

Mon, 08/08/2011 - 11:25 | 1537298 Doyle Hargraves
Doyle Hargraves's picture

I thought I was the only clown stuck in the High Desert. I plan to stay in place and defend, but if I have to bug out, I will creep to the Sierras via paths untraveled and remote. From that point have a predetermined safe place with supplies on hand, and am very familiar with the general area and sympathetic locals for foraging and hunting/fishing. You are right though not much of a growing season here, but some fruits and veggies are fairly easy to grow. We used to raise rabbits, chickens, and swine for food when I was younger, and may get into that business again very soon.

Mon, 08/08/2011 - 00:28 | 1535657 Thomas Jefferson
Thomas Jefferson's picture

I like my rice burnt.

Mon, 08/08/2011 - 02:09 | 1536031 IQ 145
IQ 145's picture

Put the rice and the water in the rice cooker; you don't even have to plug it in. What's the problem?

Mon, 08/08/2011 - 00:29 | 1535666 macholatte
macholatte's picture

The Kiwi and Aussie are crashing.  Why?  

Any ideas?

Mon, 08/08/2011 - 00:34 | 1535691 TruthInSunshine
TruthInSunshine's picture

Because their main trading partner, with whom they export massive amounts of mined products to, is crashing.

Australia and New Zealand are tied to China's fate, but if China catches a cold, they catch pneumonia.

Mon, 08/08/2011 - 00:44 | 1535742 Ahmeexnal
Ahmeexnal's picture

and if China catches chlamydia....

Mon, 08/08/2011 - 00:48 | 1535757 TruthInSunshine
TruthInSunshine's picture

Australia and NZ get a bunch of hairy crabs?

I'm not sure. I do know hairy crabs are a delicacy in China.

Mon, 08/08/2011 - 02:10 | 1536032 Manthong
Manthong's picture

Drink enough Fosters and they are in Aus or NZ.

Throw another hairy crab on the barbie, mate?

Mon, 08/08/2011 - 07:06 | 1536287 TheFourthStooge-ing
TheFourthStooge-ing's picture

and if China catches chlamydia....

Australia and New Zealand clap?

 

Mon, 08/08/2011 - 01:38 | 1535957 macholatte
macholatte's picture

Thanks. That was my thinking too and in the absence of any other news there was nothing else to speculate about.

Chinese demand for food will not change which is both Aus & NZ. Demand for materials, ore, industrial metals, etc. will, of course, deteriorate as that demand slows, which is mainly Australia.  Logically, a slow down in manufacturing should affect Aus more than NZ. However, I have heard it said that there is some kind of linkage between the Kiwi and the Aussie so they move somewhat together with the Kiwi being more fragile.

Who knows anymore with the intervention that is going on. Maybe the central banks decided to raid Aus & NZ to prop up another currency.

Mon, 08/08/2011 - 05:54 | 1536212 Pay Day Today
Pay Day Today's picture

Australia is New Zealand's major trading partner. Australia is just starting to fall off their cliff now, driven by a China slowdown and a massive private debt overload.

Mon, 08/08/2011 - 00:48 | 1535761 qussl3
qussl3's picture

If this runs true to form, you aint seen anything yet.

Wait for the RBA rate cuts for some epic lulz.

Mon, 08/08/2011 - 00:49 | 1535766 gwar5
gwar5's picture

Possibly, Western financial woes mean China's Western retail customers will go away, resulting in less demand for those Aussie resources. Tyler mentioned slowdown in China tonight. Am not sure if Kiwi moves in sympathy with the AUD. Maybe retail is buying gold downunder now too.

Agree seems we're missing the usual lag time. Of course, there's always the fear of holding any fiat. No other ideas, unless there is an unknown unknown.

Mon, 08/08/2011 - 00:30 | 1535671 astartes09
astartes09's picture

This is why China cant be a super power.

Mon, 08/08/2011 - 00:31 | 1535673 DoChenRollingBearing
DoChenRollingBearing's picture

SJGR yet again. Poor Japan.

Mon, 08/08/2011 - 00:33 | 1535684 fuu
fuu's picture

Shit Japan Got Radiated?

Mon, 08/08/2011 - 01:27 | 1535922 DoChenRollingBearing
DoChenRollingBearing's picture

"Shit Just Got Real"

ALL of abovd above contribute to SJGR...

Mon, 08/08/2011 - 00:32 | 1535678 President Palin
President Palin's picture

This is sad.  People will starve.  Glow in the dark rice is no fun to eat.

Mon, 08/08/2011 - 00:33 | 1535686 Thomas Jefferson
Thomas Jefferson's picture

Maybe they can import some of the Chinese rice made of plastic.

Mon, 08/08/2011 - 01:12 | 1535862 SYantiss
SYantiss's picture

And lead... Mmmm... Lead...

Mon, 08/08/2011 - 00:35 | 1535702 user2011
user2011's picture

Why do you need rice when you are powered by radiation dust ?

Mon, 08/08/2011 - 00:57 | 1535799 zorba THE GREEK
zorba THE GREEK's picture

Maybe they should do like Mexicans and eat corn products.

Mon, 08/08/2011 - 02:05 | 1536025 Mec-sick-o
Mec-sick-o's picture

They will lose their favorite spirit & staple.

Mon, 08/08/2011 - 00:33 | 1535685 urbanelf
urbanelf's picture

My nerves are going.  I am going to snap very soon.

Mon, 08/08/2011 - 00:58 | 1535805 zorba THE GREEK
zorba THE GREEK's picture

Calm down, this is just transitory.

Mon, 08/08/2011 - 00:34 | 1535688 gwar5
gwar5's picture

That really sucks for them. I still feel bad for Japan. Thinking their ground water is going to be contaminated too. There'll be no end to it for them. 

Mon, 08/08/2011 - 00:34 | 1535689 NuckingFuts
NuckingFuts's picture

Good luck and God bless. We are in it now, see you on the other side.

I am Nucking Futs and I support this message.

Mon, 08/08/2011 - 00:34 | 1535690 user2011
user2011's picture

It take them 4 months to realize that ?    Also, last week, they had flash flood in two rice producing prefectures.  What take them so long to figure it out ?

Mon, 08/08/2011 - 00:59 | 1535809 Doña K
Doña K's picture

Don't panic. Rice is a few times more expensive in Japan than elsewhere. Yes it's silky and tastier, but so what? South Korea will be more than happy to sell as much as they want. With the YEN/DOLLAR at 87, they can even buy 1/4 of Korea.

Mon, 08/08/2011 - 00:34 | 1535693 Mugatu
Mugatu's picture

Fried Rice! Pretty soon "100% RAD Free" labels will show up at the supermarkets as a selling point. 

Mon, 08/08/2011 - 00:53 | 1535784 Hansel
Hansel's picture

Been taking crazy pills again Mugatu?  :|

Mon, 08/08/2011 - 00:58 | 1535802 caerus
caerus's picture

Have you ever wondered if there was more to life, other than being really, really, ridiculously good looking?

Mon, 08/08/2011 - 02:14 | 1536041 IQ 145
IQ 145's picture

No, I never did. Is there?

Mon, 08/08/2011 - 01:13 | 1535871 Mugatu
Mugatu's picture

Ahhhh!  Your talking loco and I like it!

Mon, 08/08/2011 - 00:34 | 1535695 Life of Illusion
Life of Illusion's picture

 

 

Japanese don’t like Thai/Vietnam rice. Furthermore they will not grow/allow GMO rice in their country.

I bet they would love to purchase some USA GMO non cesium rice with that strong yen today.

 

Mon, 08/08/2011 - 00:35 | 1535696 Jack Napier
Jack Napier's picture

What's this got to do with the price of rice in China?

Mon, 08/08/2011 - 00:35 | 1535697 Caviar Emptor
Caviar Emptor's picture

Let them eat liquidity! 

Mon, 08/08/2011 - 00:35 | 1535698 Id fight Gandhi
Id fight Gandhi's picture

There goes tokyo! Go go Godzilla!

Mon, 08/08/2011 - 00:35 | 1535700 dwdollar
dwdollar's picture

CNBC saying South Korea has just suspended?  Is this confirmed?

Mon, 08/08/2011 - 00:40 | 1535718 Global Hunter
Global Hunter's picture

I switched on CNBC and up here we've got a rerun of American Greed.

Mon, 08/08/2011 - 00:46 | 1535743 dwdollar
dwdollar's picture

http://www.cnbc.com/id/44053454

Only 5 minutes at open.

Mon, 08/08/2011 - 00:47 | 1535753 Id fight Gandhi
Id fight Gandhi's picture

Really, wow. I thought it was time for infomercials on penis pumps and real estate scams.

Did catch a few mins of there 8pm special hitched on the s&p downgrade. Fear!!! Oh no.

Mon, 08/08/2011 - 00:49 | 1535767 Global Hunter
Global Hunter's picture

see KOSDAQ was down over 10% and KOSPI 4.9%, not sure where they'd halt it or how delayed my quote is (from the KSX website) but I don't see mention of a halt.

Mon, 08/08/2011 - 02:17 | 1536045 IQ 145
IQ 145's picture

Speaking of penis pumps; how's that going for you? Do they work okay? (wondering ).

Mon, 08/08/2011 - 00:36 | 1535703 GhostTrader
GhostTrader's picture

looks like Asians don't bother with fractal algorithms :)

Mon, 08/08/2011 - 00:44 | 1535740 LetThemEatCake
LetThemEatCake's picture

+1

Better algos, better cars, god dammit

Mon, 08/08/2011 - 00:36 | 1535705 Id fight Gandhi
Id fight Gandhi's picture

Well at least they got a strong yen to order out Chinese.

Mon, 08/08/2011 - 00:37 | 1535707 DeadFred
DeadFred's picture

Two comments:

1) "we predicted the day Fukushima blew up (and even before) that very soon rice prices would surge to record highs" sometimes I have a different idea of what "soon" means. No disrespect meant.

2) The Japanese will starve before they eat Vietnamese or Thai long grain rice. Their only real source will be N. California. No one else will have the supply and the sticky and medium grain rice required for the market. Import barriers are very strong though.

Mon, 08/08/2011 - 00:40 | 1535717 Tyler Durden
Tyler Durden's picture

Re: 1, correct - we underestimated people's stupidity or their willingness to be lied to by their governments.

Mon, 08/08/2011 - 00:50 | 1535773 DeadFred
DeadFred's picture

As do I all the time. And thanks for all your great input.

Mon, 08/08/2011 - 01:26 | 1535919 Yen Cross
Yen Cross's picture

 Make people Whole!

Mon, 08/08/2011 - 02:37 | 1536066 ViewfromUnderth...
ViewfromUndertheBridge's picture

consenus is everything in Japan, takes a while. Acute normalcy bias.

Mon, 08/08/2011 - 00:37 | 1535709 lolmao500
lolmao500's picture

Yep this kind of stuff should have happened on March 12...not today.

The whole of Asia is about to go turn to riots if rice indeed jumps 40%. They eat it in every single meal, every day... no rice or little rice : RIOTS... for sure.

Mon, 08/08/2011 - 00:40 | 1535716 Id fight Gandhi
Id fight Gandhi's picture

Japanese have strong social values and a homogenous society. They're not like the urban thugs america has.

Mon, 08/08/2011 - 00:46 | 1535747 lolmao500
lolmao500's picture

Yeah but starve anyone and the polite atitude goes out the window. Especially parents who can't feed their kids.

Mon, 08/08/2011 - 00:46 | 1535748 UGrev
UGrev's picture

what about their ever westernized youth? honest question.. not trying to stir shit up.. that's already been done tonight..

Mon, 08/08/2011 - 00:50 | 1535770 Id fight Gandhi
Id fight Gandhi's picture

Doesn't matter. They don't have the same "youths" us has.

They rebuilt an economy from WWII to a world super power in just 2 decades. They're good people, but their leadship does suck.

Mon, 08/08/2011 - 07:39 | 1536349 tmosley
tmosley's picture

I love all the Japanese worship around here.  They looted after the earthquake just like any other society would have.  They have inner city violence just like any other society.  They have thieves, and murderers, and rapists, just like everyone else.

But then, since they aren't black, that looting is called "finding", the violence is called "fun", and the rest is just boys being boys.

Mon, 08/08/2011 - 00:42 | 1535727 monkeyboy
monkeyboy's picture

They've still got noodles(as long as it's not of the rice variety they should be ok)

Mon, 08/08/2011 - 07:20 | 1536306 Gohn Galt
Gohn Galt's picture

They had to get all the new nuclear power contracts in line and government guarantees.  And thus not forget the trillions of dollars needed to insure the nuclear energy plants, no non-government insurance company in the world will or has insured a nuclear power plant.  If they did nuclear would be anything but a cheap energy source.  It is a great investment for banker's, once you put one up the people really need you.

 

Mon, 08/08/2011 - 00:38 | 1535710 Caviar Emptor
Caviar Emptor's picture

So let's see: if you mix Hot Tuna (from the radioactive fluid leak into the ocean) with Hot Rice (from the poisoned ground water and airborn particles) you get Hot FukuSushi (TM)

Mon, 08/08/2011 - 00:43 | 1535731 fuu
Mon, 08/08/2011 - 02:18 | 1536049 Manthong
Manthong's picture

Don't forget the thyroid blocker enriched soy sauce.

Mon, 08/08/2011 - 00:47 | 1535719 caerus
caerus's picture

asia's melting - down

Mon, 08/08/2011 - 00:41 | 1535722 Yen Cross
Yen Cross's picture

Viet Nam was a hey/day  

 

                    GOD BLESS you UNCLE BUD!  Tunnel rats roCK on

Mon, 08/08/2011 - 00:43 | 1535736 Manthong
Manthong's picture

Don't they just need to stuff a whole bunch of naked shorts into the market and raise the margins four or five times?

Mon, 08/08/2011 - 00:46 | 1535749 Yen Cross
Yen Cross's picture

Some Times I get "PISSED OFF"Tyler!  Thank you!

Mon, 08/08/2011 - 00:47 | 1535754 Number 156
Number 156's picture

Fukushima rice; The rice that cooks itself.

Mon, 08/08/2011 - 00:53 | 1535786 dwdollar
dwdollar's picture

Haha...  Just make sure you don't keep more than 2 bushels in one place or it will begin to react.

Mon, 08/08/2011 - 01:53 | 1535994 CrockettAlmanac.com
CrockettAlmanac.com's picture

But chop sticks are regulary employed as control rods, are they not?

Mon, 08/08/2011 - 00:53 | 1535785 PulauHantu29
PulauHantu29's picture

Anyone know if these areas are still getting coated with radiation blowing in from Japan:

1. Hawaii?

2. Cali and Oregon?

3. Fujian province, China?

 

Thanx.

Mon, 08/08/2011 - 01:04 | 1535827 Vlad Tepid
Vlad Tepid's picture

1. Thin

2. Thin

3. Domestic pollution is far worse than anything Japan is spewing out.

Mon, 08/08/2011 - 00:54 | 1535787 Spitzer
Spitzer's picture

Physical and futures gold in backwardation. Ebay price is lower then futures price.

negative % premium on phys ???????

Mon, 08/08/2011 - 00:56 | 1535795 Yen Cross
Yen Cross's picture

You are a "Repeat ASS clown!

Mon, 08/08/2011 - 00:54 | 1535792 Yen Cross
Yen Cross's picture

CHINA is a FUCKING JOKE!

Mon, 08/08/2011 - 00:56 | 1535797 mt paul
mt paul's picture

twinkies

bytches

Mon, 08/08/2011 - 00:58 | 1535804 Yen Cross
Yen Cross's picture

IF? ClusterFUCK me...<

Mon, 08/08/2011 - 00:59 | 1535806 lolmao500
lolmao500's picture

Bank of America telling the truth for once?

http://www.cnbc.com/id/44054807

"We do expect further downgrades," said Ethan Harris, North American economist, on the call. "We doubt the newly appointed bipartisan commission will come up with a credible long-term deficit reduction plan. Hence by November or December we would not be surprised to see S&P downgrade the debt again from AA-plus to AA."

Mon, 08/08/2011 - 01:01 | 1535815 Yen Cross
Yen Cross's picture

PLUS infinity!

Mon, 08/08/2011 - 02:09 | 1536029 jmc8888
jmc8888's picture

No they aren't telling the truth.

ROFL the fascist, unamerican commission that pisses on the constitution.....now what BofA really means....

"will not bloody the people enough to pay off the fraudulent debt through cuts.  Hence we would not be surprised to see another useless [everyone knows its junk already] downgrade (that serves somebody's purpose) again"

Want to know the ultimate debt reduction?

Glass-Steagall

 

The rest just kills people to fund the payment of fraudulent debt, while keeping the structure that got us here in place.  They'll be sure to keep us in debt, even with 0 food stamps, 0 medicare, 0 social security, so on and so forth.  Unless we stick the fraud back up their asses.

They're all full of shit. 

 

As for Japan, why open it now? Seems a bit retarded given everything.  Oh that's right, higher food prices, more 3rd world people starve.  All part of the bankster's plans.  Let the market kill the people, then who can you blame?

Glass-Steagall

Mon, 08/08/2011 - 02:24 | 1536056 IQ 145
IQ 145's picture

I should print that out and put it on the wall next to my Market Watch front page that says; "World Wide Wreckage". What a nerve they have; talk about the pot calling the kettle black. They should be rated ---FFF

Mon, 08/08/2011 - 01:00 | 1535811 Caviar Emptor
Caviar Emptor's picture

This gold is your gold

This gold is my gold

From Fukushima

To the Bahrain Island

From the Libyan desert

to black Gulf Stream Waters

This gold is sure to set you free

Mon, 08/08/2011 - 01:04 | 1535834 Yen Cross
Yen Cross's picture

  You have egg.s  I respect you.

Mon, 08/08/2011 - 01:03 | 1535826 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The best part.....

...this is just the beginning.

Mon, 08/08/2011 - 01:06 | 1535841 Yen Cross
Yen Cross's picture

oF WHAT? tHAT SCARES ME!

Mon, 08/08/2011 - 01:58 | 1536008 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

This system is not working.  It never did.  We need a new system.  Shit is hitting the fan.  Soon people will wake up.  There is plenty of rice to feed everyone.  The price does not need to fluctuate so.  And it is not a matter of rich people and poor people, it is a matter of corporations controlling the world.  People they are not, and they should be disbanded every few years.  Once we rid ourselves of the corporate parasites, we rid ourselves from fascism.  Once that happens, we are free.  This is the start of the realization.

Mon, 08/08/2011 - 05:33 | 1536195 Escapeclaws
Escapeclaws's picture

I'd like to see them go, too or at least lose their status as "persons" before the law. But this will never happen in our lifetimes unless Armagedon happens or something. 

Mon, 08/08/2011 - 05:45 | 1536200 goldfish1
goldfish1's picture

Once we rid ourselves of the corporate parasites, we rid ourselves from fascism.

Who has the balls to do it.

Mon, 08/08/2011 - 01:06 | 1535843 Vlad Tepid
Vlad Tepid's picture

I wonder why they would have opened it up right in the middle of all this volatility and swirling cesium...the outcome was more than predictable.  Japanese are skittish about domestic rice supplies on the best of days...

Mon, 08/08/2011 - 01:07 | 1535846 SouthernX
SouthernX's picture

On the flash CRASH front: ASX:RIO down to as low as A$1.43. All's well now after a two minute long reminder of what RIO's sp was in the 70's:

 

http://www.theaustralian.com.au/business/markets/rio-tinto-trades-under-...

 

SX

Mon, 08/08/2011 - 01:09 | 1535849 Yen Cross
Yen Cross's picture

Fade the trade!  Tight bottoms and run on BS!

 

Mon, 08/08/2011 - 01:46 | 1535982 BlackholeDivestment
BlackholeDivestment's picture

...awe, what's the big deal? Japanese don't eat rice and Lucifer does not exist. Everything is fine.

Mon, 08/08/2011 - 02:11 | 1536036 HungrySeagull
HungrySeagull's picture

That is a consenquence of living in a radioactive land where nothing normal applies anymore.

Something for all the Nations that consider Nuclear Power or Nuclear War should consider.

Mon, 08/08/2011 - 02:20 | 1536050 Nikao7
Nikao7's picture

Speaking of:

Oklahoma City hit with DANGEROUS RADIATION levels from Rain on Aug 6th 2011

http://www.youtube.com/watch?v=dXh8vsedMtA&feature=player_embedded

 

Mon, 08/08/2011 - 03:20 | 1536126 madbomber
madbomber's picture

 radiation/fear

Redemption Song

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

 

Mon, 08/08/2011 - 03:34 | 1536140 Kimo
Kimo's picture

Let those over 55 eat the 'cooked' rice.

Mon, 08/08/2011 - 04:52 | 1536177 silver is money
silver is money's picture

RICE is RISING! but is this for real? considering the fact that what Japanese market participants used to do...

Mon, 08/08/2011 - 05:06 | 1536185 flrzero
flrzero's picture

Rice is over priced in Japan because of protectionism. I think they liberalized this slightly in 2003 but a 2 kg bag of rice costs like 1200 yen retail if I remember correctly. (I live there but it is a while since I bought rice.) Rice can be cultivated at much lower cost in SE Asia and the US because of cheaper land, cheaper labor and multiple harvests.

Mon, 08/08/2011 - 09:17 | 1536203 Escapeclaws
Escapeclaws's picture

The Japanese have to be the worlds greatest victims of nuclear energy. Ran into this hypothesis the other day on the Hiroshima explosion that might be of interest:

In reviewing the damage patterns and blast characteristics of the Hiroshima blast, it appears this weapon was detonated at a height of 0.6 to 1.0 kilometers [Highest probable fireball diameter is about 1.4 kilometers].  This weapon was detonated at this height to produce the maximum damage area from the fireball (maximum sustained fire/airblast damage from the propagating temperatures and airblast pressures in the shock wave front).  However, the epicenter was not the area with the greatest damage since the weapon was designed to “spread the fireball effects” over a wide area.  The strongest building [steel reinforced frame] was the Hiroshima Bank building which was gutted inside by fire 250 meters from hypocenter of bomb but its walls remained standing but the window frames were blown away.

The overriding conclusion from my review of the weapon effects at Hiroshima is that this weapon was intentionally designed and deployed to kill or maim as many humans as possible in residential housing (or unprotected outside) over the widest possible area for the weapon’s size (while minimizing radiation effects from contaminated debris being thrown up into atmosphere).  Since much of the Hiroshima industrial capacity was also located in unreinforced brick structures this type of airblast would also destroy any unreinforced masonry or brick buildings. One of the most flammable items on a person is their hair and clothing.
Much of the clothing at this time was cotton (or blended cotton) which would be considered highly flammable.  I suddenly came to the realization that the intent of propagating a fireball at this height was to be able to set fire to a person’s clothing (and all types of fabrics) at relatively long distances from the blast’s epicenter.  The airblast would be felt for miles (blowing out windows and damaging most all structures by cracking the walls) and terrorize the remaining population.

--Dr. Stephan Rinehart

Feel free to disagree, this is pretty horrifying if true!

This hypothesis seems plausible in light of the firebombing of Tokyo wherein vast walls of fire swept through large residential areas in Tokyo burning alive every man, woman, and child in the affected areas. See Richard Rhode's magisterial work, where he describes this: "The Making of the Atomic Bomb." I would not have known about this, if not for him.

Incidently, did GE know that it was building a reactor site over a fault zone at Fukushima? If so, wouldn't they have a moral responsibility to refuse to do so?

If Japanese rice is radioactive, how in Hell's name is that country even inhabitable at this point?

Mon, 08/08/2011 - 07:20 | 1536310 j0nx
j0nx's picture

I said it the moment this disaster happened and I stand by it: Japan is a dead culture. Most don't fully realize it yet but within 3 years it will be pretty evident that anyone who remains there will become a victim to cancer within their early adult life time. Herd mentality has killed the planet. The sociopathic .5% lead the other 99.5% around by their balls because they have convinced everyone that they are smarter and wiser when in fact they are just greedy and narcissistic.

Mon, 08/08/2011 - 10:09 | 1536850 mess nonster
mess nonster's picture

A random evet like a 9.0 quake with associated tsunami destroys nuclear power at a critical moment in the ensuing Global Peak Oil Economic Collapse... a coincidence surely...

If the economic collapse is of sudden onset, with long-lasting severity, what is the future of other, aging, crumbling, nuclear power plants? Where does one get parts? What if critical parts suppliers go out of business? What if the physical infrastructure for making specialized parts is compromised or destroyed by economic contagion? For want of a nail the shoe was lost, for want of a shoe the horse was lost, etc.

1.68 microsieverts in OKC. I thought about buying a radiation detector, but what would I do with the information?

Hey j0nx, why limit your prognosis  to the Japanese? The global system we know as our only reality is doomed. Wear your radiation-caused supporating lesion as a badge of pride, because that is all you'll be able to do about it.

On another note, just putting it out there... my theory is that energy supply problems are the uderlying factor of modern economic problems. So who wants to help me prove  it? The US reached Domestic Peak Oil in 1970, triggering economic malaise until 1985. Global Peak Oil in 2005 is the underlying cause of today's credit/debt meltdown. So...is it possible that in the late 1920's industrial capacity increased so rapidly that energy production couldn't keep up, thus creating a sort of "peak oil-type energy shortfall which then precipitated a financial collapse? Energy production was boosted during wartime, and the resulting capacity carried us until 1970- so the theory goes?

Who wants to help verify this?

Mon, 08/08/2011 - 18:51 | 1539797 Mec-sick-o
Mec-sick-o's picture

Probably, but unfortunately this time all the debt, instead of being defaulted and cleared, we are all getting to pay the tab.

This will certainly cause an unnecessary financial depression and huge transfer of wealth from the common people to the oligarchs.

Regarding energy, it seems something worthwhile to analyze.  Crises and Murphy don't show isolated.  We would need to analyze, what was first, chicken or egg?  France has 80% or more nuclear power, USA stopped this... they chose nasty nuclear fuel and shitty by-products for warheads, instead of milder, cleaner types of reactors.

There is plenty of energy, but still money and power rules.

Wed, 09/14/2011 - 05:09 | 1667514 chinawholesaler
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