A IS FOR ATOM
Whenever there is a disaster, those responsible claim it was "unforeseeable" so as to escape blame.
* It happened with 9/11
* It happened with the financial crisis
* It happened with the BP oil spill (see this, this, this, this and this)
* It happened with the Japanese nuclear accident
The big boys gamble with our lives and our livelihoods, because they make a killing by taking huge risks and cutting costs. And when things inevitably go South, they aren't held responsible (other than a slap on the wrist), and may even be bailed out by the government.
In the end, those gambling in Las Vegas lose more than they gain. As a society, we are gambling – with our big banks, with our nuclear power facilities, with our planet. As in Las Vegas, the lucky few - the bankers that put our economy at risk and the owners of energy companies that put our planet at risk - may walk off with a mint. But on average and almost certainly, we as a society, like all gamblers, will lose.
That, unfortunately, is a lesson of Japan’s disaster that we continue to ignore at our peril.
The bottom line is that if we continue to let the top 1% - who are never satisfied, but always want more, more, more - run the show without challenge from the other 99% of people in the world, we will have more Fukushimas, more Gulf oil spills and more financial meltdowns.Japan's Nuclear Meltdown, the Economic Meltdown, and the Gulf Oil Meltdown All Happened for the SAME REASON
The biggest long-term impact from the tsunami, beyond the incredible personal losses experienced by so many Japanese, will probably be on the nuclear power debate. In the short term, we’ll see opposition to nuclear grow. In the long term, however, I think it is going to be very good for thorium nuclear power.
Friday, April 15, 2011 Killing the Unborn ... With Radiation
To put lipstick on the pig of radioactive fallout, we hear from nuclear cheerleaders that common activities like watching TV and airline travel also expose us to radiation.
True enough, although they never mention that airline pilots and flight attendants do have higher rates of breast and skin cancer. But equating those very different types of radiation is like equating the damage of being hit with ping pong balls (photons) with being hit by bullets (beta particles). Your TV doesn't shoot bullets at you.
Even if your TV was only shooting a few bullets per show, you probably wouldn't watch much TV.
Furthermore, the damage done by these radioactive "bullets" can vary tremendously depending on which organs are hit. To carry the analogy one step further: spraying a few bullets into a large crowd can hardly be considered safe for everyone in the crowd, even if the ratio of bullets per person is very low.
Bioaccumulation causes an increasing concentration of many contaminates as one moves up the food chain. That's why beef is much higher in dioxins than cattle feed, tuna fish have much higher mercury than the water they swim in and fetal blood has higher mercury levels than maternal blood.
Radioactive iodine, cesium and strontium, all beta emitters, become concentrated in the food chain because of bioaccumulation. At the top of the food chain, of course, are humans, including fetuses and human breastmilk.
In 1963, one week after an atmospheric nuclear bomb test in Russia, our scientists demonstrated the power of bioaccumulation when they detected radioactive iodine in the thyroids of mammals in North America, even though, with 1963 methods, they could not detect smaller amounts in the air or on vegetation.
Bioaccumulation is one reason why it is dishonest to equate the danger to humans living 5,000 miles away from Japan with the minute concentrations measured in our air. If we tried, we would now likely be able to measure radioactive iodine, cesium, and strontium bioaccumulating in human embryos in this country.
Pregnant mothers, are you okay with that?
Hermann Muller, another Nobel Prize winner, is one of many scientists who would not have been okay with that. In a 1964 study, "Radiation and Heredity" , Mueller clearly spelled out the genetic damage of ionizing radiation on humans.
He predicted the gradual reduction of the survival of the human species as exposure to ionizing radiation steadily increased. Indeed, sperm counts, sperm viability and fertility rates worldwide have been dropping for decades.
These scientists and their warnings have never been refuted, but they are still widely ignored.
Dr. Radkowsky marketed his thorium method as a way to give nations the capability to generate energy while preventing them from using spent fuels to produce nuclear weapons. He pointed out that only minuscule amounts of plutonium, a byproduct of the uranium reactors, are needed to make a nuclear weapon.
"If we don't put a stop to conventional uranium cores now, nuclear terror will ensue, and the use of legitimate nuclear energy will be barred worldwide," he once said.
The small amount of plutonium produced with the thorium method is "in an isotopic mix that is not weapons-suitable," said Thorium Power President Seth Grae. There is also half as much spent fuel, he added.
A U.S. Nuclear Accident Could Be a Lot Worse than Japan
Aileen Mioko Smith, director of Green Action Kyoto, met Fukushima plant and government officials in August 2010. “At the plant they seemed to dismiss our concerns about spent fuel pools,” said Mioko Smith. “At the prefecture, they were very worried but had no plan for how to deal with it.”
Remarkably, that is the norm—both in Japan and in the United States. Spent fuel pools at Fukushima are not equipped with backup water-circulation systems or backup generators for the water-circulation system they do have.
The exact same design flaw is in place at Vermont Yankee, a nuclear plant of the same GE design as the Fukushima reactors. At Fukushima each reactor has between 60 and 83 tons of spent fuel rods stored next to them. Vermont Yankee has a staggering 690 tons of spent fuel rods on site.
For you folks who have been waiting to understand the JP Morgue silver manipulation scheme explained by cartoon bears, here it is.
Also, The Ben Bernank makes a cameo appearance.
Promptly after those two cuddly bears explained how the JP Morgue is manipulating the silver market, and the xtranormal video went viral, forcing the FT to release an indemnification that "according to sources" JPM had covered a major portion of its silver short (only to subsequently end up with 90% control of other metals markets), here they are back, explaining in Part 2 of the series just what the next steps in the unwind of the biggest metal manipulation scheme will look like.
The kicker: a JPM insider has told one of the bears that there is no commercial silver left, "it's all smoke and mirrors, and the CFTC can do nothing about it other than pray."
Other topical items explained: silver backwardation, that there are two commissioners at the CFTC on the JP Morgue's payroll, the BIS' fractional gold system and the usage of side pockets for sovereign gold, and pretty much everything that ties the loose odds and ends in the PM manipulation story.
Confused by the recent downdraft in the price of (paper) silver...
Even more confused by what is happening with the record open interest in the metal?
Have no fear.
The bears are here, and explain things in their traditionally simple and sound effect-filled way.
And for those who are confused by the above, here is another explanation of what may be happening courtesy of a "letter" to Blythe (thanks John).
This is what I am hearing from your former traders (who made "very interesting career decisions"). Well it seem that they are on to a new scheme to corner the Comex and drive the price of silver up $10 to $15 dollars in a matter of weeks.
The strategy is as follows.
We know that Comex only has 105 million ounces of silver of which only 50 million ounces are availabe for delivery.
(I personally don't believe the Comex numbers are anywhere near that high, but that is neither here nor there for now.)
Well, all it would take is 10,000 contracts on the Comex to buy up all the "available silver" at the Comex and 20,000 contracts to deplete it completely. The current front month March OI is north of 78,000.
Watch the OI closely. Blythe's former traders are advising major hedgefunds and billioniare investors to buy up as many contracts as possible as March 1 approaches and deposit the cash needed to stand for delivery for the month of March.
The purpose is not necessarily to bust the Comex but to force the Comex to pay a premium (some as much as 30 percent) for cash settlement.
Think about it.
If a group of hedgefund gets together and bankroll $1 billion, they can buy more than 30 million ounces of silver.
Of course, the contract sellers like The Morgue cant deliver the silver so a cash settlement is the only recourse.
So what's wrong with $200 million in profit on a $1 billion investment that takes less than 4 weeks total?
Guess what Blythe?
Your former traders are advising everyone they know to put on this trade come the first week of February.
Is this what happened in the Decemeber contracts?
Is this why silver went from $22 on September 30 to $29 by December 1?
How much do you think silver will spike in February as we approach March 1?
The traders think silver will be north of $45.
Heck it went over $9 as we approached December and everyone who got a pay off in terms of a premium cash settlement will be back for more.
And they are all gonna be bringing friends to partake in the bounty.
Your former traders are telling everyone who would listen that all they need to do is purchase a huge amount of March contracts near the end of February and stand for delivery and they will all make 20 percent in a matter of days.
Is this what you are hearing Blythe?
If so, shouldnt you let the price of silver move up so that you can get some physical to deliver before March 1?
The bears are back summarizing the most recent developments in the silver market including backwardation, some insider "conspiracy theories", the Comex' paper to physical imbalance, the coming endgame, and what all this means in terms of options for one Kamakayz [sic] Bernank.
The bears are back, discussing the usual topics du jour, which in this case is a rather humorous listing of the most recent 99 black swans year to date in 2011, and their impact on silver.
Here is interesting quote I found before 2008 50% correction happened in silver:
JP Morgan's Silver Shorts
There is compelling new proof of a silver (and gold) price manipulation. The evidence connects the investment bank JP Morgan Chase, the dominant force in world commodity trading, the U.S. Commodity Futures Trading Commission (CFTC), the primary commodity regulator, and the U.S. Treasury Department, the arranger of every conceivable bailout.
"I think the data in the COT and the Bank Participation Reports indicate that the U.S. Government may have bailed out the biggest COMEX silver short by arranging for a U.S. bank to take over their position. This coincides with JP Morgan’s takeover of Bear Stearns.
In fact, it would not surprise me if the bailout was JP Morgan taking over Bear Stearns‘ short silver position, at the government‘s request. While this silver bailout (if it happened) was no doubt undertaken with financial system stability in mind, it has disturbing implications of legality and equity"
So now ( from 2008) , its 2,5 years JPM owns this short silver position which has from that time increased in potential losses by approximately 2 times ( and it did bring down Bear Sterns then).
From 2008 8 october:
This is the relevant quote from the CFTC’s Oct 8 letter.
"In effect the increase [in the short position] reflected a one time acquisition of positions that were acquired through a merger in the industry, and not new trading by a bank.
Thus, the assertion that there was new activity undertaken by the banks that led to a fall in silver prices is not correct since the "new" activity reflected in the CFTC’s report was in essence positions that had already existed in the market prior to July 1st."
But silver price went 50% down after this exercise, in one month.
Can something similar happen to JPM and why?
What events could prompt someone try to bailout JPMs shorts in silver in next weeks? How would they be bailed out ?
By nationalizing the bank 100%?
Is there any other bank (FED) willing to take these shorts over?
I doubt you will see this chart in the mainstream media any time soon... if EVER.
This is a chart of the US monetary base. In simple terms, it charts how much money the Fed has pumped into the system (at least that it admits). So it’s a kind of visual of the Fed hitting the PANIC button: when the monetary base explodes higher, the Fed is FREAKING out.
You'll note that during the Financial Crisis the Fed didn't do much until the autumn of 2008 when it pumped nearly $1 trillion into the system. Think about that, the Fed didn’t go nuts pumping money until the stuff REALLY hit the fan.
You'll also note that there's only one other time when the monetary base went absolutely vertical: TODAY.
Indeed, the Fed has pumped nearly $500 billion into the system since the start of 2011. Don't even try to tell me this is QE 2. If it was then the monetary base should have spiked in late 2010, NOT in 2011.
No, this is the Fed FREAKING OUT about the financial system again. And it's a freak out on par with 2008.
So if you think that all is well "behind the scenes" you're in for a rude surprise. Something BIG is going down and it's NOT good.
And rest assured, by the time the mainstream media announces what it is, it will already be in full swing.