MidnightWatcher – Prophecy in Motion

“The International Swaps and Derivatives Association (ISDA) has decided unanimously today to declare that Greek’s bond swap constitutes a ‘credit event’ and that ‘the right of all holders of the affected Bonds to receive payments has been reduced,’ according to release published by the ASDA late Friday.

Investors that bought Credit Default Swaps (CDS) on Greek debt will get paid. Nevertheless, ISDA Committee will Meet again to discuss Greek credit event on Monday according to Dow Jones.

ISDA has resolved to hold an auction with respect to the settlement of standard credit default swaps that will take place on March 19, 2012. Maximum amount will be $3.16 billion of net outstanding Greek credit default swap contracts but exact amount of money will be determined by the auction.

ISDA follows Rating agencies steps, SP was said last week that Greece was in selective default while earlier on Friday, Fitch Ratings downgraded Greece to ‘restricted default’, as expected. This decision comes after Greece completed the bond swap deal with its private creditors on Thursday with a 85.8% participation.” Read more.

Moody’s: Greece has defaulted – “Moody’s Investors Service considers Greece to have defaulted per its default definitions. The announcement comes despite Athens reaching a deal with private creditors for a bond exchange that will shave €107 billion from its €350 billion debt. The agency pointed out that even though 85.8 per cent of the holders of Greek-law bonds had signed to the deal, the exercise of collective action clauses that Athens is applying to its bonds will force the remaining bondholders to participate. Eventually, the overall cost to bondholders, based on the present net value of the debt, will be at least 70 per cent of the investment, Moody’s explained. ‘According to Moody’s definitions, this exchange represents a ‘distressed exchange,’ and therefore a debt default,’ the US rating firm said.” Read more.

By Louise Armitstead – “Authorities in Athens are ready to enforce the controversial collective action clauses, or CACs, to impose the restructuring deal on all bondholders as the number of voluntary agreements look set to fall short of the required amount.

Credit rating agencies have warned they will declare Athens to be in default if the CACs are triggered which would be a dramatic culmination to a three-year rollercoaster ride for Athens, the eurozone and global markets.

While the markets have been ready for a Greek default for months, the move could leave Greece and its banks barred from funding from the European Central Bank (ECB). On Monday, Standard & Poor’s declared Greece to be in a state of “selective default” which led to the ECB announcing it would no longer accept Greek government bonds as security for new loans.

The rating agency said its decision had been prompted by the threat of the CACs and the actual use of them is likely to tip Greece into actual default. The agency said it regarded the process as a ‘distressed debt restructuring’.

Raoul Ruparel of Open Europe, the London-based think-tank, said: ‘Greece is likely to struggle to reach the targets for a voluntary agreement so the credit rating agencies are almost certainly going to see this as a default.

‘What happens next is unknown territory.'” Read more.

Moody’s downgrades Greek debt to lowest level – “Moody’s Investors Service on Friday cut Greece’s sovereign debt rating to the lowest possible level after a debt restructuring deal that imposes hefty economic losses for private creditors. Moody’s lowered Greece’s local and foreign-currency bond ratings a notch to C from Ca, becoming the third credit rating agency to downgrade the country following the announcement of the swap deal to lighten its debt burden. Moody’s said it did not assign any future outlook to the rating due to the very high likelihood of a default by the Greek government on its bonds.” Read more.

Keep in mind, while the Chernobyl catastrophe was ‘over’ relatively quickly, Fukushima still continues to expel radiation a full year after meltdown …

By AKIKO OKAZAKI – “A mind-boggling 40,000 trillion becquerels of radioactive cesium, or twice the amount previously thought, may have spewed from the crippled Fukushima No. 1 nuclear power plant after the March 11 disaster, scientists say.

Michio Aoyama, a senior researcher at the Meteorological Research Institute, released the finding at a scientific symposium in Tsukuba, Ibaraki Prefecture, on Feb. 28.

The figure, which represents about 20 percent of the discharge during the 1986 Chernobyl nuclear disaster, is twice as large as previous estimates by research institutions both in Japan and overseas.

It was calculated on the basis of radioactive content of seawater sampled at 79 locations in the north Pacific and is thought to more accurately reflect reality than previous simulation results.

Scientists believe that around 30 percent of the radioactive substances discharged during the crisis ended up on land, while the rest fell on the sea.

This makes it especially difficult to accurately evaluate the total amount of radioactive materials released. Thus, seaborne data is essential to the process.

The scientists measured cesium concentrations in seawater as of April and May last year. They then used a model of diffusion in the atmosphere and the oceans to evaluate the total amount of cesium released. The calculation produced estimates of 30-40 quadrillion becquerels.” Read more.

Tour of ‘fragile’ Fukushima nuclear plant shows shocking state of disrepair – “Japan’s tsunami-hit Fukushima power plant remains fragile nearly a year after it suffered multiple meltdowns, its chief said Tuesday, with makeshift equipment — some mended with tape — keeping crucial systems running. An independent report, meanwhile, revealed that the government downplayed the full danger in the days after the March 11 disaster and secretly considered evacuating Tokyo. Journalists given a tour of the Fukushima Dai-ichi plant on Tuesday, including a reporter from the Associated Press, saw crumpled trucks and equipment still lying on the ground. A power pylon that collapsed in the tsunami, cutting electricity to the plant’s vital cooling system and setting off the crisis, remained a mangled mess.” Read more.

Some parts of Tokyo now as contaminated as the worst area of Chernobyl – “The contamination level of Mizumoto Park turned out to be the same level of ‘off-limits zone’ in Chernobyl. The contamination level of the park was 23,300 Bq/Kg. According to Nuclear Safety Commission, it is converted to be 1.4 ~1.5 million Bq/m2. In Chernobyl, if the area is more contaminated than 1.48 million Bq/m2, it was labelled as off-limits zone, which was the worst level of the pollution. Because cesium doesn’t choose Mizumoto park intentionally, at least some parts are contaminated as the worst area of Chernobyl.” Read more.

Radioactive cesium in San Francisco-area milk now at 150% of EPA’s maximum limit – “The EPA Maximum Contaminant Level for radioactive cesium in milk is 3 picocuries/L: ‘EPA lumps these gamma and beta emitters together under one collective MCL [Maximum Contaminant Level], so if you’re seeing cesium-137 in your milk or water, the MCL is 3.0 picocuries per liter; if you’re seeing iodine-131, the MCL is 3.0; if you’re seeing cesium-137 and iodine-131, the MCL is still 3.0.’ … These are the highest cesium levels detected by UCB since at least August 2011 (As the MDA was higher over the summer, it’s hard to be sure of the exact levels at that time):” Read more.

Seems like reps in Wyoming are the only ones right now concerned enough to prepare in advance of any eventuality. If Rabbi Jonathan Cahn is right, however, central banks around the world will likely kick the can down the road just a little bit more, until it can be kicked no farther in 2015. See video following the article below …

By Adam Shell – “NEW YORK – Behind the mainstream Wall Street happy talk about more stable financial markets and an improving economy are grim warnings of tough times ahead from a small cadre of doomsayers who warn that the worst of the financial crisis is still to come.

Harry Dent, author of the new book The Great Crash Ahead, says another stock market crash is coming due to a bad ending to the global debt bubble. He has pulled back on his earlier prediction of a crash in 2012, as central banks around the world have been flooding markets with money, giving stocks an artificial short-term boost. But a crash is coming in 2013 or 2014, he warns. ‘This will be a repeat of 2008-09, only bigger, when it finally hits,’ Dent told USA TODAY.

Gerald Celente, a trend forecaster at The Trends Research Institute, says Americans should brace themselves for an ‘economic 9/11′ due to policymakers’ inability to solve the world’s financial and economic woes. The coming meltdown, he predicts, will lead to growing social unrest and anti-government sentiment, a U.S. dollar with far less purchasing power and more people out of work.

Celente won’t rule out another financial panic that could spark enough fear to cause a run on the nation’s banks by depositors. That risk could cause the government to invoke ‘economic martial law’ and call a ‘bank holiday’ and close banks as they did during the Great Depression.

‘We see some kind of threat of that magnitude,’ Celente, publisher of The Trends Journal newsletter, warned in an interview.” Read more.

Rabbi Jonathan Cahn reveals same pattern for God’s judgment on ancient Israel is being played out in America – next judgment coming in 2015 (Video):

By Bob Nichols – “(San Francisco) Widely known Physicist Dr Paolo Scampa, the publisher of the EU AIPRI Blog and an eminent chemical physicist, announced today his latest calculations of deadly radioactivity in Tokyo itself. Both the nuclear regulatory and media responses have been missing in action.

However, the outrageous statement of a Japanese politician pretty well sums up the level of understanding of the parasitic political class ‘Smile, and the radiation won’t hurt you.’

The Tokyo suburbs are about 100 miles or 160 km South of the six destroyed, deteriorating and badly leaking nuclear reactors at the Fukushima Daiichi Station for Nuclear Reactors.

Dr Scampa stated:

“An absorbed dose of 2,94 microSievert/hour at 1 meter of soil means an average deposit of 9,065E5 Bq/m2 of Cs137 -0,661 MeV-. This amount for 1 meter is in fact situated between a maximum deposit of 5,439E6 Bq/m2 for low energy gamma rays from radioactive elements such as U238 (0,0495 MeV) and a minimum deposit of 2,176E5 Bq/m2 of very energetic gamma rays from radioactive elements such as Co60 (2,55 MeV). This dose corresponds to 25 times the maximum permissible “artificial” hour dose (0,114 microSievert/h-1) and 5 times the maximum permissible total – natural and artificial – hour dose (0,571 microSievert/h-1). [1]” Dr. Scampa. [End Quote]

This is a tragedy of huge proportions. There are 30 Plus Million People in Greater Tokyo. It is brought home personally to each person who sees the work of Fukushima Diary by Mochizuki.” Read more.

Some parts of Tokyo now contaminated as the worst area of Chernobyl – “The contamination level of Mizumoto Park turned out to be the same level of ‘off-limits zone’ in Chernobyl. The contamination level of the park was 23,300 Bq/Kg. According to Nuclear Safety Commission, it is converted to be 1.4 ~1.5 million Bq/m2. In Chernobyl, if the area is more contaminated than 1.48 million Bq/m2, it was labelled as off-limits zone, which was the worst level of the pollution. Because cesium doesn’t choose Mizumoto park intentionally, at least some parts are contaminated as the worst area of Chernobyl.” Read more.

Fukushima radiation detected 400 miles away in Pacific Ocean at levels 1,000 times higher than previous readings – “The Fukushima Daiichi nuclear disaster is far from over, as new reports explains that water samples taken nearly 400 miles off the coast of Japan in the Pacific Ocean are showing radiation levels of up to 1,000 times higher than previous readings. Presenting their findings at the recent Ocean Sciences Meeting in Salt Lake City, Ut., scientists continued to claim these severely elevated radiation levels are not a significant health or environmental threat.” Read more.

By Graham Smith – “Computer hackers could have the ability to take down the entire U.S. electrical grid within the next two years, the head of the National Security Agency has warned.

General Keith Alexander expects the ‘hacktivist’ group Anonymous to be able to bring about a limited national power outage through a cyber attack.

He has relayed his concerns over the growing threat during a White House meeting last week, reports the Wall Street Journal.

Although he has made no public statement regarding Anonymous in particular, cyber attacks represent an increasing security risk for the U.S. government.

General Alexander has previously warned of the ongoing determination of hacker groups to expose institutional corruption, and now believes Anonymous is moving in a more disruptive direction.

James Lewis, a cyber security specialist at the Center for Strategic and International Studies who is currently researching the group, told the Journal: ‘It’s a real threat. You want to occupy Wall Street? How about turn Wall Street off? Even for a day.'” Read more.