I expected a pull back in silver & gold because of the massive drop in the NIKI... this creates a buying opportunity for the stackers. I don't expect it to go below $31 DON"T wait for it to drop any lower if you are looking for a pull back to buy. BUY BUY!
The danger is waaayyy over-rated, 10 x more people will die of bee stings and exposure to asbestos than will be even moderately affected by even a total Chernobyl type situation in Japan . All the tragedy aside , and it is a truly sad and horrific event for the people of Japan that really escapes description , in the long run it will I think stimulate the economy and be the savior of the pre earthquake economy of Japan . Crass tho it may sound right here and now , if I were one that delved into paper i would be snapping up Jap shares left right and center while they are going for a song. Japan is also one of the largest holders of Gold bullion. So at least they have a real backing for the Yen.
Just as an add on there, the Japanese build most domestic structures with wood, not too good for the Tsunami's but excellent at withstanding constant tremors and earthquakes as evidenced by the relative stability of the rest of the country not affected by the Tsunami. They are going to need an awful lot of wood or composite material to rebuild the countless thousands of structures lost in this disaster.
Australia supplies $12.9 billion/coal,$5.9 bil of iron ore ,$1.7 bil of beef amongst other things to Japan annually.Also Japans central bank pumped 15 trillion yen($181.3 bil) into money markets yesterday to help stabilize their financial system then doubled the amount in the arvo. the mind boggles.
i am sure articles like this make a difference http://news.ninemsn.com.au/world/japanquake/8224458/blasts-escalate-japans-nuclear-crisis Europe's energy commissioner Guenther Oettinger dubbed the nuclear disaster an "apocalypse", saying Tokyo had almost lost control of events at the Fukushima power plant. "There is talk of an apocalypse and I think the word is particularly well chosen," he said in remarks to the European Parliament. The government expects a "considerable" economic impact from the disaster, which has plunged the nation into what Prime Minister Kan called its worst crisis since World War II. Singapore's DBS Bank estimated that the twin disasters would cost Japan's economy about $US100 billion ($A99.24 billion), or about two percentage points of its annual gross domestic product.
About 12 tonnes of water contaminated with radiation has leaked from Japan's crippled Fukushima nuclear plant. Plant operator TEPCO believes most of the water flowed into the Pacific Ocean. It says the contaminated water leaked from a treatment pipe. The water contained radioactive strontium which tends to accumulate in bones and can cause leukaemia. It is the second time in two weeks there has been a leak of contaminated water from the nuclear plant, prompting yet another apology from TEPCO. About 120 tonnes of radioactive water leaked at the plant's water decontamination system last month and about 80 litres seeped into the ocean, according to TEPCO. ............... The clean-up is proceeding slowly, amid warnings that some towns could be uninhabitable for three decades. http://www.abc.net.au/news/
When you hear about high radiation levels now occurring on the West Coast of the US ... that gets me worried. Not only the radiation spread and resulting exposure, but also impact on fish species (which we then eat)
If the most disastrous nuclear fail happened under the jurisdiction of the ultra fastidious Japanese engineers what hope is there with all the other rotting facilities in countries known for local corruption and lax engineering standards. If I was a young family I'd be stacking anti-radiation tablets and keeping an eye on cans of fish for production dates. I can't help feeling a sense of doom and that there is a giant reckoning coming. If we could turn away from waging war on each other and attend to some of the big issues perhaps future generations will not burn us in effigy as a reminder of the follies of mankind.
