The Dollar is Flirting Dangerously with a Major Support Level

posted by Trader Dan at Trader Dan's Market Views - 22 minutes ago

Risk trades are being put back on in today's session with a fury - markets which had been limit down this week and now limit up today. Corn and Cotton are two in particular which stand out. That's the thin...

 

 

 

Japan Ministry Of Finance Says Ready For "Battle On Yen"

Submitted by Tyler Durden on 03/17/2011 11:28 -0400

According to sources, a Japanese Ministry of Finance official has said that it is now ready for a "Bettle on the Yen." Just headlines for now. Much more will be revealed later when the G-7 meets to discuss how to further weaken the currency in a coordinated effort. An immediate pop in the USDJPY above 79 follow this statement. The fact that we are getting nothing but posturing from the BOJ instead of actual intervention, such as we saw last when the USDJPY hit 80.30 in late October continues to be quite troubling. In the meantime, the NZDUSD, another funding pair has been taking on some water in early trading. 

 

 

 

Watch Ron Paul And Jim Grant Discuss Monetary Policy Live

Submitted by Tyler Durden on 03/17/2011 10:13 -0400

The much anticipated hearing on "The Relationship of Monetary Policy and Rising Prices" chaired by Ron Paul and includes such witnesses as James Grant has started. It should be quite interesting because the last time we checked, Grant had refused to drink the Kool Aid.

 

 

 

TEPCO Releases Helicopter Overflight Fukushima Devastation Video

Submitted by Tyler Durden on 03/17/2011 10:59 -0400

Dramatic images from Fukushima as TEPCO releases yet another perspective of the crippled nuclear power plant, this time from a Helicopter overflight from March 16 at 4pm local time. Too bad there is no Geiger counter caption to go with all the other ones. 

 

 

 

Immersive 360 Panorama View Of Japan Earthquake Devastation

Submitted by Tyler Durden on 03/17/2011 10:50 -0400

MSNBC presents an immersive 360 panorama view from the middle of the Japanese earthquake devastation. As usual, a picture is worth a thousand explanatory columns. 

 

 

 

 

 

 

Union Of Concerned Scientists Releases Report On US Nuclear Plant Safety, Finds NRC Oversight Weakness At Indian Point NPP

Submitted by Tyler Durden on 03/17/2011 11:52 -0400

From a just released report by the Union of Concerned Scientists, focusing on US Nuclear Power Plant oversight by the Nuclear Regulatory Commission. "Many of the serious safety or security lapses at U.S. nuclear power plants in 2010 happened because plant owners -- and often the Nuclear Regulatory Commission (NRC) -- failed to address known safety problems." And something potentially concerning to Buchanan, NY residents where Indian Point NPP is located: "the NRC did not always serve the public well in 2010. This report analyzes serious safety problems at Peach Bottom, Indian Point, and Vermont Yankee that the NRC overlooked or dismissed. At Indian Point, for example, the NRC discovered that the liner of a refueling cavity at Unit 2 has been leaking since at least 1993. By allowing this reactor to continue operating with equipment that cannot perform its only safety function, the NRC is putting people living around Indian Point at elevated and undue risk." The report's conclusion: "when the NRC tolerates unresolved safety problems -- as it did last year at Peach Bottom, Indian Point, and Vermont Yankee -- this lax oversight allows that risk to rise. The more owners sweep safety problems under the rug and the longer safety problems remain uncorrected, the higher the risk climbs."

Follow IAEA's Fukushima Press Conference In Vienna Live

Submitted by Tyler Durden on 03/17/2011 12:08 -0400

The IAEA is currently holding a press conference in Vienna with its findings on Fukushima. Since there is very conflicted reporting on the issue over the past week, the supposedly unbiased event will likely get substantial attentiont. Among the early disclosures, which should not come as a surprise is that the reactor 3 core at Fukushima is damaged, and no cooling units are functioning. Considering the destruction at that reactor, it is not surprising.