Reuters reports that Tokyo Stock Exchange firms are seeking market closure as the markets are too volatile. We agree. This means we may get the first post September 11 bank holiday as early as tonight. If so, keep an eye on the USDJPY. "Some foreign financial institutions are calling for Japan's stock market to halt trading, while the Tokyo Stock Exchange and Japanese financial regulators are planning to keep markets open, news agency Nikkei reported. The news agency said officials from more than 10 non-Japanese financial firms held a conference call Tuesday afternoon, with some firms calling for the market to be closed immediately, Nikkei reported, citing people familiar with the discussion. Some participants argued that the market was too volatile to continue trading, according to the report." And if Japan closes, watch for rolling market shutdowns westward as the sun rises over each individual stock market.
the truth will only come out later just how bad the radiation levels are, when people start dropping dead or become sick. If the Japanese government is anything like ours the people of Japan are being lied to. We won't know just how much we're really being exposed to either. Obama and family headed for Rio, guess if radiation gets bad they will be in a safer zone.
ReplyDeleteMizuzu a big Japanese bank now O.K.after its ATMs were earlier shut down.
ReplyDeleteThe ATM shutdown could not have come at a worse time given the crisis in Japan and peoples need for emergency cash for daily necessities.
The Problem it is said by some wags to have been caused by Mizuzu first throwing seawater on its ATMs cash withdrawal buttons in order to cool down the machines to prevent overheating and the bank itself melting down!
But Mizuzu is later believed to have been saved by the bank somehow finding a new emergency liquidity cash supply at the Central Bank (BOJ) .thereby solving its multi billions of dollar cash reserves and cash flow problems.
Cash held in ATMs may be counted as bank reserves just as if they were bank reserves in the banks vaults .
Cash “reserves”at the ATMs , apparently were falling too fast ,just like as if the withdrawals were a bank run .
The bank at first stated it problems were not caused by electrical or software failure.
The bank of Japan is throwing money everywhere right now in order to prop the banking system and japanes share markets and pressure on the exchange value of the Yen.
The jappanese premier this week has called on the Central bank to "save Japan"
The BOJ is of the same economic school of bankster supporting Bernanke.
That is ,that everything and all economic problems can be solved by just a bit more money printing and digital cash transfers to bankers and hedge funds.
Mizuzhu may have got a little emergency cash help too ?
An earlier report said:
UPDATE 2-Mizuho: ATMs stop working across Japan,
“cause unknown”
· Wed Mar 16, 2011 9:57pm EDT
* ATMs, Internet transaction systems down across Japan
* New trouble comes after $7.3 bln of transactions delayed Mon and Tues
* Bank to hold briefing at 0400 GMT on system troubles
* Bank says cause of troubles unknown, unlikely due to power outages (Adds details)
http://www.reuters.com/article/2011/03/17/mizuho-atm-idUSL3E7EH02520110317
The real cause appears to be that 7.3 billion dollar cash shortage as reported above.
But alls well that ends well the BOJ to the rescue?.
(Reuters) - Japan's Mizuho Bank (8411.T) said on Thursday that all of its automatic teller machines (ATM) throughout Japan were working again after system glitches caused suspension earlier in the day.
To March 16, 2011 6:23 PM,
ReplyDeleteYou are right on the money! I am sitting with you on this one. Couldn't have said any of it better myself.