MidnightWatcher – Prophecy in Motion

“This nation has recovered from worse natural – and manmade – catastrophes. But it is the triple meltdown and its aftermath at the Fukushima nuclear power plant 40km down the coast from Soma that has elevated Japan into unknown, and unknowable, terrain. Across the northeast, millions of people are living with its consequences and searching for a consensus on a safe radiation level that does not exist. Experts give bewilderingly different assessments of its dangers.

Some scientists say Fukushima is worse than the 1986 Chernobyl accident, with which it shares a maximum level-7 rating on the sliding scale of nuclear disasters. One of the most prominent of them is Dr Helen Caldicott, an Australian physician and long time anti-nuclear activist who warns of ‘horrors to come’ in Fukushima.

Chris Busby, a professor at the University of Ulster known for his alarmist views, generated controversy during a Japan visit last month when he said the disaster would result in more than 1 million deaths. ‘Fukushima is still boiling its radionuclides all over Japan,’ he said. ‘Chernobyl went up in one go. So Fukushima is worse.’

On the other side of the nuclear fence are the industry friendly scientists who insist that the crisis is under control and radiation levels are mostly safe. ‘I believe the government and Tokyo Electric Power [Tepco, the plant’s operator] are doing their best,’ said Naoto Sekimura, vice-dean of the Graduate School of Engineering at the University of Tokyo. Mr Sekimura initially advised residents near the plant that a radioactive disaster was ‘unlikely’ and that they should stay ‘calm’, an assessment he has since had to reverse.

Slowly, steadily, and often well behind the curve, the government has worsened its prognosis of the disaster. Last Friday, scientists affiliated with the Nuclear and Industrial Safety Agency said the plant had released 15,000 terabecquerels of cancer-causing Cesium, equivalent to about 168 times the 1945 atomic bombing of Hiroshima, the event that ushered in the nuclear age. (Professor Busby says the release is at least 72,000 times worse than Hiroshima).” Read more.

French Report: Fukushima Pollution 20 Times Larger Than TEPCO Admits – 27,100 TBq of Radioactive Cesium Leaked Into Ocean – “French researchers say the amount of radioactive cesium that has leaked from the crippled Fukushima Daiichi nuclear power plant into the ocean is 20 times larger than the plant operator estimated. The French government’s nuclear research institute, IRSN, released its contamination report on Saturday. It calculates that 27.1 thousand terabecquerels of radioactive cesium 137 had leaked into the ocean as of the middle of July.” Read more.

“CANNES—It may well be remembered as the day the euro zone began to break apart.

At a late night news conference in Cannes on Wednesday, German Chancellor Angela Merkel and French President Nicolas Sarkozy shattered the bloc’s most sacred taboo, conceding openly for the first time that Greece might end up having to leave the tight-knit currency club it joined a decade ago.

The admission, after an intense two-hour meeting with Greek Prime Minister George Papandreou on the eve of a G20 summit, sets the euro zone on a perilous course that could reverberate in Europe and beyond for decades.

Were Greece to leave the euro zone, a step that until now European officials have said is technically and legally impossible, the consequences would be devastating even though the country represents just 2.5 percent of the 17-nation currency area’s gross domestic product (GDP).

Just how devastating is difficult to say because the move would take Europe and the global financial system into uncharted territory.

But what does seem clear is that an exit would spark contagion to other peripheral countries as foreign investors pulled out en masse.” Read more.

Greece may leave euro, leaders admit – “The G20 is planning to increase the crisis-fighting firepower of the International Monetary Fund after the start of its summit was dominated by the first open admission from EU leaders that it might be necessary for Greece to leave the eurozone if the single currency is to survive. George Osborne said there was a “real sense of urgency” on a day that saw an emergency interest rate cut from the European Central Bank, backtracking from Greece over a referendum on its bailout conditions, and a recognition that the IMF may need extra resources to cope with a deteriorating global economy.” Read more.

Euro chaos: Britain prepares for worst – “Britain is drawing up plans to deal with the consequences of a possible collapse of the eurozone – including a fresh banking crisis – in the wake of the chaos in Greece. The opening of the G20 summit of the world’s most powerful economies in Cannes was overshadowed by the turmoil in Athens last night, as the Greek Prime Minister dramatically abandoned plans for a referendum on the European bailout deal in the face of furious opposition at home and abroad. But, amid growing fears that a Greek economic meltdown could spread through the rest of Europe, there are still concerns that the European plan brokered last week is not enough.” Read more.

“ATHENS, Greece – Greece’s prime minister abandoned his explosive plan to put a European rescue deal to popular vote and opened emergency talks Thursday with his opponents, who reversed themselves and agreed to broad austerity measures in exchange for a European bailout.

Prime Minister George Papandreou ignored widespread calls for his resignation and instead invited the opposition to join negotiations on the bailout, telling an emergency Cabinet meeting that early elections would force Greece into leaving the 17-nation euro currency, with disastrous effects for both Greece and other European economies.

Papandreou sparked a global crisis Monday when he announced he would put the latest European deal to cut Greece’s massive debts — an accord that took months of negotiations — to a referendum. The idea horrified other EU nations and Greece’s creditors, triggering turmoil in financial markets as investors fretted over the prospect of Greece being forced into a disorderly default.

Two officials close to Papandreou said Thursday the referendum idea has now been scrapped, after the debt deal won support from the opposition. Papandreou spoke with conservative opposition leader Antonis Samaras in the afternoon, his office said, before a major address to his Socialist party deputies in parliament.” Read more.

By Elinda Labropoulou – “Athens, Greece (CNN) — Greece’s cabinet voted Wednesday to support Prime Minister George Papandreou’s call to hold a referendum as soon as possible about the latest bailout plan, ministers coming out of the meeting told a CNN affiliate.

The vote was unanimous, though some of the ministers expressed criticism prior to casting their votes, CNN affiliate Mega Channel reported.

The cabinet vote came hours before German Chancellor Angela Merkel, French President Nicolas Sarkozy and senior figures from the International Monetary Fund and European Union were to meet Wednesday with Greek officials at an emergency meeting in Cannes, France, ahead of the G-20 summit.

Their meeting comes a day after U.S. and European stock markets tumbled after Papandreou’s call for the referendum on international aid for his country.

A ‘no’ vote could theoretically force Greece to crash out of the euro and send shock waves through the global financial system.” Read more.

Canadian Finance Minister: “This kind of turmoil in Europe is not good for anyone around the world” – “Greek government’s plan to hold a referendum on its European bailout package is injecting a dangerous level of uncertainty and placing the global economic recovery in peril, Finance Minister Jim Flaherty warned Tuesday. Pointing at the plunging markets in Canada and around the world, Flaherty said he was concerned about the delay that a referendum would cause. ‘It’s not for us to dictate terms to the Europeans – it is for us to say that delay endangers the global economy,’ he told reporters late Tuesday after meeting with the Commons finance committee. ‘We have interdependent economies in this world. What affects Europe, affects the United States, affects Canada … this kind of turmoil in Europe is not good for anyone around the world.'” Read more.

“Washington, DC – October 31, 2011 – Today Scientist Marco Kaltofen of Worchester Polytechnic Institute (WPI) presented his analysis of radioactive isotopic releases from the Fukushima accidents at the annual meeting of the American Public Health Association (APHA). Mr. Kaltofen’s analysis confirms the detection of hot particles in the US and the extensive airborne and ground contamination in northern Japan due to the four nuclear power plant accidents at TEPCO’s Fukushima reactors. Fairewinds believes that this is a personal health issue in Japan and a public health issue in the United States and Canada.” Source.

By Nicholas Cecil – “The world is on the brink of a new jobs recession which could spark social unrest in dozens of countries, a report warned today.

The grim warning from the International Labour Organisation came as leaders of the G20 rich nations prepared to meet for a crisis summit in Cannes this week.

‘We have reached the moment of truth. We have a brief window of opportunity to avoid a major double-dip in employment,’ said Raymond Torres, director of the ILO’s International Institute for Labour Studies.

In 45 out of 118 countries examined, the risk of social unrest is rising, according to the World of Work Report 2011.

It will take at least five years for employment in advanced economies to return to pre-crisis levels, it added.

Fears of another recession grew today as a leading think tank slashed its eurozone growth forecast. The OECD predicted that the single currency area will almost come to a halt next year, with growth of 0.3 per cent. A slowdown would hit Britain’s economic prospects.” Read more.

Greek govt ‘on verge of imploding’ – “Greece’s government looked on the verge of implosion on Tuesday ahead of a Friday confidence vote as a socialist deputy defected and another cadre called for early elections after the prime minister called a referendum on his EU debt rescue. Greek Prime Minister George Papandreou called the referendum late Monday in a bid to secure approval of his disputed economic policies without early elections. But the gambit backfired when a former deputy minister defected, reducing the ruling party’s majority in the 300-seat parliament to 152 deputies.” Read more.

Global markets fall as Greece announces referendum on euro bail-out – “Global stock markets dropped sharply as investors sold off shares after Greece’s shock decision to hold a referendum on its eurozone bail-out package thratened to intensify the region’s debt crisis. London’s FTSE 100 index of leading shares dropped more that 2pc, with markets in Germany falling, France, Spain and Italy sliding between 2.7pc and 4pc. Andrew Lim, banking analyst at Espirito Santo in London, said: ‘If Greek voters reject the unpopular bailout plan it could result in a ‘hard default’, which could force banks to take losses of about 75pc on their Greek sovereign bonds, trigger payouts on credit default swap insurance contracts, and raise the threat of a systemic risk. ‘If we get a hard default in Greece, it will exacerbate the situation with Italy and Spain. It just increases the problem of Italy going down the same route, and that’s the real risk.'” Read more.

“French researchers say the amount of radioactive cesium that has leaked from the crippled Fukushima Daiichi nuclear power plant into the ocean is 20 times larger than the plant operator estimated.

The French government’s nuclear research institute, IRSN, released its contamination report on Saturday.

It calculates that 27.1 thousand terabecquerels of radioactive cesium 137 had leaked into the ocean as of the middle of July. The largest amount was released by early April from a pit at the Number 2 reactor and other plant facilities.

The French institute says the amount is about 20 times the estimate made by Tokyo Electric Power Company.

The report says the nuclear accident caused significant water contamination, but radioactive substances will be dispersed by ocean currents.

Nevertheless, the institute is calling for ongoing testing of marine products as leakage from the nuclear facility continues to pollute the nearby ocean.” Source – NHK World.

Radiation Cleanup Confounds Japan – “Nearly eight months after the Fukushima Daiichi nuclear accident scattered radioactive material over surrounding communities, Japan still is struggling to figure out how to clean up the mess, exacerbating fears about health risks and fanning mistrust of the government. Government guidelines provide scant detail about the $14-billion-plus effort. A new cleanup law doesn’t take effect until January. Cities across Fukushima prefecture are scraping contaminated topsoil off school grounds and parks, but Tokyo hasn’t yet decided where to store the tainted material.” Read more.

Fukushima plant cleanup to take 30+ years, commission tells TEPCO to BEGIN removing rods within TEN years – “Experts in Japan have warned it could take more than 30 years to clean up the Fukushima Daiichi power plant. A panel set up by the country’s nuclear energy commission said the severity of the accident meant it would take decades to remove melted fuel rods and decommission the plant, located 150 miles north of Tokyo. The commission called on the facility’s operator, Tokyo Electric Power (Tepco), to begin removing the fuel rods within 10 years.” Read more.

By Liam Halligan – “… Last week’s eurozone ‘agreement’, for all the related fanfare, was a case in point. Far from making the situation clearer, allowing investors to make considered assessments, this latest announcement made Western Europe’s grotesque debt crisis even more acute, sowing further infectious spores of confusion.

The deal itself, unveiled dramatically in the early hours of Thursday, was met with the now obligatory ‘relief rally’. The FTSE All-World equity index soared 4.1pc, helped by signs of renewed US economic growth. European bank shares spiked no less than 12pc on Thursday, as traders recognised, for all the official obfuscation, the latest dollop of government largesse.

By late Thursday, though, and certainly on Friday, the warning signs were there. Global bond markets, by character more sober and smarter than the excitable equity guys, were voting against the deal. This is alarming. For it is only by selling more bonds that the eurozone’s deeply indebted governments can roll-over their enormous liabilities and keep the show on the road.

Some say Western governments shouldn’t ‘accept’ what the market says. ‘Who do these trading people think they are,’ I hear from the lips of the educated but financially-illiterate political elite. Let’s be clear – if global bond markets stop lending to a number of large Western economies, we are in the realms of unpaid state wages and pensions, transport chaos and closures of schools and hospitals – sparking the prospect of serious civil unrest. Forgive my intemperate tone, but these are the dangers we face. And I’m afraid the only rational response to Thursday’s announcement is that the probability of such undesirable outcomes has just been increased…

The eurozone must be consolidated. World leaders should similarly force European banks to disclose their losses, we all take the hit and then we move on. Instead, we are served-up, in ever more complex variants, the same ‘extend and pretend’ non-solutions. It gives me no pleasure to write this, but I give this deal two weeks.” Read more.

By Bruno Waterfield – “A trillion euro bail-out to save the EU’s single currency is in danger of unravelling after Germany’s central bank warned that the rescue measure was too dependent on the high-risk deals that caused the economic crisis.

Hours after an all-night summit of euro governments ended, flaws began to emerge in a package that was billed as a ‘grand and comprehensive’ solution to the European debt crisis.

The concerns were led by Germany’s powerful central bank, which expressed fears that a plan to leverage a €440 billion eurozone rescue fund to amass a ‘fire power’ of €1 trillion, or £880 billion, resembled the risky finance methods that triggered the crisis in 2008.

EU leaders are expected to sanction the establishment of a so-called special purpose investment vehicle, or SPIV, to be set up in the coming weeks. It is aimed at attracting investment from countries such as China and Brazil.

Jens Weidmann, the president of the Bundesbank and a member of the European Central Bank, sounded the alarm over the plan to ‘leverage’ the fund by a factor of four to five times without putting any new money into the pot.

He warned that the scheme could be hit by market turbulence with taxpayers left holding the bill for risky investments in Italian and Spanish bonds.” Read more.

Europe’s rescue euphoria threatened as Portugal enters ‘Grecian vortex’ – “Monetary contraction in Portugal has intensified at an alarming pace and is mimicking the pattern seen in Greece before its economy spiralled out of control, raising concerns that the EU summit deal may soon washed over by fast-moving events. Data released by the European Central Bank show that real M1 deposits in Portugal have fallen at an annualised rate of 21pc over the past six months, buckling violently in September. ‘Portugal appears to have entered a Grecian vortex and monetary trends have deteriorated sharply in Spain, with a decline of 8.4pc,’ said Simon Ward, from Henderson Global Investors.” Read more.

Unfortunately, the cars still require gas …

By Greg Wilson – “Cars that were contaminated by radiation during the March nuclear meltdown in Japan are finding their way into the reeling nation’s used car market.

Vehicles from the area around the Fukushima Daiichi nuclear plant, which suffered a series of meltdowns after the earthquake and tsunami of March 11, were supposed to be destroyed. But unscrupulous dealers have registered them under new license plates and sold them, The Asahi Shimbun newspaper reported. Unable to export the cars, they’re selling them in Japan.

Dealers have traditionally bought used vehicles in Japan and exported them to Russia and Southeast Asia, according to the Telegraph. In June, Russian police turned back a half-dozen used cars from Japan after finding they were contaminated with radioactove isotopes, according to the Interfax news agency. Authorities in South America, Australia and the U.S. have also stepped up inspection of new and used cars coming in from Japan.

Now, with testing also being conducted at Japanese loading docks, dealers are selling the potentially lethal cars on the domestic market.” Read more.

Radioactive concrete being sold in Japan – “A piece of concrete panel was 2.5 micro Sv/h. It was found at a home center in North Tochigi. In Japan, radioactive sewage sludge or disposal waste ash are treated as normal garbage when it’s under 8,000 Bq/Kg. They are re-used to concrete material. This kind of material is highly likely to have been distributed to all around in Japan. Our houses will be radioactive, sooner than we have ever thought.” Source.

Japan: Northwest Tip of Tokyo Tainted By Unusually High Amount of Fallout, Plant Mutations Continue To Be ‘Observed Everywhere’ – “An aerial radiation survey of the capital and Kanagawa Prefecture has revealed the northwest tip of Tokyo was tainted by an unusually high amount of fallout, while most other areas showed normal levels, a science ministry official said Friday. The results, released late Thursday, show that fallout from the Fukushima No. 1 power plant contaminated part of the mountainous Okutama region on Tokyo’s western fringe. Radiation readings in the area were the highest of the two prefectures at 100,000 to 300,000 becquerels of radioactive cesium per square meter.” Read more.

‘Dilute and Sell’ – Radioactive Tea Blended with Non-Radioactive Tea – “A tea producer blended the tea with radioactive cesium with the tea without radioactive cesium so that he could sell off his radioactive tea. An operator of a sewer sludge plant knowingly sold radioactive sludge to a manufacturer of garden soil because there was no national government standard when he sold it. Their reason: ‘It’s safer that way, as radioactive cesium will be diluted’. Many Japanese consumers seem dismayed to find out that there are people among them who would do such a thing, but there are people like that, unfortunately. And as the article cites one government agency, it is clearly none of the government’s business to do anything about it anytime soon.” Read more.

Radioactive food raising concerns in Japan: