This is the first that i have read of the potential for a core escape into the earth’s crust at Fukushima. In an article on Fukushima Diary, Uehara Haruo, called the Architect of Reactor 3, warns of a potential for hydrovolcanic explosion. I read a translation of the source page for this information at the livedoor site. Piecing the Google translation bits together . . . → Read More: Fukushima – China Syndrome? Bloomberg continues reporting into Secret Fed Loans Helped Banks Net $13B. THe FOIA information that Bloomberg has acquired shows that the Fed gave the banks lines of credit, loans and access to the discount window to the tune of $7.7 trillion, yes that’s trillion. In their own calculation Bloomberg thinks that the banks netted profit of $13 billion on this largesse from the . . . → Read More: Secret Fed Loans Helped Banks Net $13B – Bloomberg Mostly the recipe for getting stability back in serious single country situations is repudiation of sovereign debt (i.e. default), revaluation of the currency (i.e. a new currency), recapitalising the banks in the new currency, forcing the citizens to use the new currency (i.e. repudiating private debts in old currency or restating them at a penalty rate in the new currency) and starting from zero again. How would that work in Europe, the USA and China in roughly a 5 year time frame? Would some global financial order come into place then? I am sure some would try to make that happen. . . . → Read More: Depression and inflation possible? Mike Konczal has been doing great work decoding the #OWS movement on his blog. His recent post on Occupy and General Strike Links reminds via Nietzsche and Michelle Ty that while creditors wager their money, debtors wager their bodies: Although the defense of public education may seem a remote or peripheral concern of the occupy movement, the connection between the two is indisputable. . . . → Read More: Bodily wagers |
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