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How China should rule the world
http://www.ft.com/cms/s/0/9ba6d850-54c2-11e0-b1ed-00144feab49a.html#axzz1HNvmWUOA
FT: How China should rule the world
China surely recognises that the accumulation of huge official claims on “safe” foreign liabilities must be matched by a corresponding supply. Unfortunately, the demand is now met via destabilising fiscal and external deficits in the US. China could help itself by accelerating liberalisation of capital outflows and increasing exchange rate flexibility.
Furthermore, China needs to develop a strategy for reform of the global monetary system that fits with its interests in managing the interface between its domestic development and global stability. One desirable move would be towards co-ordination of exchange rate management with other export-oriented emerging economies. It is also in China’s interests to secure a pragmatic accommodation with its partners in the discussions within the Group of 20 leading economies. This should focus on indicators of disequilibrium, methods of adjustment and liquidity provision for countries in difficulties.
As for finance, China’s objectives must be: first, to create a domestic system capable of supporting its own economic development; second, to help promote a global system that supports a tolerably stable world economy; and, third, to protect the former from the excesses of the latter. In achieving this difficult reconciliation China’s policies should be guided by the understanding that, in the long run, its financial system will be the hub of global finance. Yet the transition to full integration will be not only lengthy but also complex and fraught, with full integration of banking particularly dangerous.
Finally, let us look at access to resources. For the first time in its long history, China is dependent on access to imports of industrial raw materials. It is already the world’s largest importer of most raw materials. For China, policy in this area is of potentially the highest importance. Its immediate interest is to gain access to the world’s resources on favourable terms. It has decided, quite reasonably, to use its cheap capital and labour to secure this end. That is not only in China’s own interests but in those of other consumers. Since resources have global prices, any increase in supply is to the benefit of all consumers.
Nevertheless, it would be helpful if a consensus could be reached on the terms of investment and trade in natural resources. One aim should be to ensure that commodity-exporting countries – particularly poor ones, with limited capacity for governance – benefit from foreign investment and exports of natural resources. China will be a central player in securing such agreements. Above all, the world needs to agree that the underlying principle must remain those of free trade in open world markets. Prices need to be set in global competition, with, of course, the possibility of long-term contracts.
As China grows, its impact on the world expands exponentially. It must reconcile the imperatives of its rapid development with the need to take full account of its impact on the world. It will have to develop its own agenda, one that secures its linked objectives of rapid development at home and stability abroad. It will not be easy. China has no alternative.
submitted by dan fey
Days of inflationary rage come to the US
Days Of (Inflationary) Rage Are Here: Man Goes On Shooting Rampage After Learning Taco Bell Hikes Prices On Beefy Crunch Burrito By 50%
Days of inflationary rage come to the US:
Police say a San Antonio Taco Bell customer enraged that the seven burritos he ordered had gone up in price fired an air gun at an employee and later fired an assault rifle at officers before barricading himself into a hotel room.
San Antonio police Sgt. Chris Benavides says officers used tear gas Sunday night to force the man from the hotel room after a three-hour standoff. The man is charged with three counts of attempted capital murder. Authorities have not released his name.
Brian Tillerson, a manager at the Taco Bell/KFC restaurant, told the San Antonio Express-News that the man was angry the Beefy Crunch Burrito had gone from 99 cents to $1.49 each.
Police say the man fired on officers during a traffic stop after the restaurant incident.
This is the first example of a domestic shooting incident following the surge in food prices courtesy of just QE Lite and QE 2. Just like in Tunisia, following the self-immolation of a fruit vendor, it will not be the last. And when we finally get QE3, then all bets will be off.
If Market Keeps Falling, Fed Will Keep Printing: ‘Dr. Doom’
CNBC.com Staff Writer
Falling stock prices will be met only with more money injections from the Federal Reserve, Marc Faber, the so-called “Dr. Doom,” told CNBC.
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Axel Griesch | ASFM | Getty Images
Marc Faber
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Speaking as global markets fell violently lower in the wake of the Japan earthquake and fears of a nuclear meltdown, Faber said a stock correction actually is healthy in view of how far equities have come from the March 2009 lows.
He also expects weakness to persist and the Standard & Poor’s 500 to drop as much as 15 percent. Further, Fed Chairman Ben Bernanke will likely give the green light to another round of Treasurys purchases, which have come to be known as quantitative easing, he said.
“We may drop 10 to 15 percent. Then QE 2 will come, (then) QE 4, QE 5, QE 6, QE 7—whatever you want. The money printer will continue to print, that I’m sure,” said the author of the Gloom, Boom and Doom Report. Later in the interview, he added, “Actually I made a mistake. I meant to say QE 18.”
As for the situation with Japan specifically, he said the end result of rebuilding after the quake would be inflation and a positive for stocks, while Japanese Government Bonds, or JGBs as they are often called, would suffer.
“This huge selloff is an investment opportunity in Japanese equities, but if a meltdown occurs then all bets are off,” he said.
The Nikkei Japanese stock market index has plunged more than 12 percent this week, its worst two-day drop in more than 20 years.
US equities have shown far less reaction but were poised to drop more than 2 percent at the open Tuesday. Faber, though, said the central bank would spring into action should the selling get out of hand.
“I think Mr. Bernanke doesn’t know much about the global economy but he probably watches the S&P every day,” he said.
“Until very recently the Feds have had very few critiques, very few people criticized the Fed’s policies under Mr. Greenspan and Mr. Bernanke,” Faber added. “Over the last few months, a lot of critical comments have come up about the Fed and its money-printing habit. The S&P drops 20 percent (and) all the critics will be silent and they will all applaud new money-printing.”BACK to margotbworldnews.com
Scientists Project Path of Radiation Plume
By WILLIAM J. BROAD
Published: March 16, 2011
A United Nations forecast of the possible movement of the radioactive plume coming from crippled Japanese reactors shows it churning across the Pacific, and touching the Aleutian Islands on Thursday before hitting Southern California late Friday.
The projection, by the Comprehensive Test Ban Treaty Organization, an arm of the United Nations in Vienna, gives no information about actual radiation levels but only shows how a radioactive plume would probably move and disperse.
Japan – Exploded Nuclear Plant Uses MOX Fuel – Not Uranium! What is that? Just 2 MILLION Times WORSE than Uranium or Chernobyl’s Meltdown!
UPDATE 3/13/11 11:18PM est – Video of EXPLOSION OF REACTOR 3 (Mox Fuel) that Just now happened on 3/14/11 at 11am Japanese time (Mox Fuel) * watch this video and the one at the bottom of this article of Reactor #1 exploding on Saturday – to me this explosion is much bigger and more powerful than the other and there was a large flash at the beginning!
UPDATE – 3/14/11 12:12 AM – I was just listening to FOX news and they were talking to a Nuclear Expert as soon as he began saying Reactor 3 which had just exploded has different fuel and about to explain it, she totally cut him off and said there was no more time to talk to him. Wow – they are trying to keep this information about MOX fuel from getting out!
CONFIRMED – REACTOR 3 (Mox Fuel Reactor) Exploded 10:50pm est- On LIVE right now – they are saying it is all still contained – possibly mass radiation from it though – (update) now they have changed that story and saying no radiation! Saying reactor is not damaged now and saying containment vessel still intact – same explosion as what happened with #1 – just the outer building!
http://www.ustream.tv/channel/nhk-world-tv
UPDATE -3/13/11 10:38PM EST – CNN JUST NOW SAID THERE WAS A BLAST AT REACTOR NUMBER 3 (the mox fuel reactor) – They are not sure of the whole situation and all they know is there has been a blast from it.
UPDATE 3/13/11 10PM est– NUMBER 3 REACTOR – rods may have been damaged (this is the one with the MOX fuel).
The official also said that Tokyo Electric Power Co. (9501), the operator of the plant, has been able to release pressure in reactor No. 3 but that he’s concerned that its fuel rods may be damaged.
Another UPDATE – Just out – From IAEA blog about Reactor 3 (MOX fuel reactor) –
Unit 3 does not have off-site power supply nor backup diesel generators providing power to the plant. As the high pressure injection system and other attempts to cool the reactor core have failed, injection of water and boron into the reactor vessel has commenced. Water levels inside the reactor vessel increased steadily for a certain amount of time but readings indicating the water level inside the pressure vessel are no longer showing an increase. The reason behind this is unknown at this point in time. To relieve pressure, venting of the containment started on 13 March at 9:20AM local Japan time. Planning is underway to reduce the concentration of hydrogen inside the containment building. The containment building is intact at Unit 3.
Edit 3/14/11 9am est – I have a question.. they are saying there has not been radiation leaking and the containment vessels are intact with both reactors. Then WHY Those in a helicopter were contaminated found when they landed on the Ronald Reagan? It is said the Ronald Reagan went through a radiation cloud also. Why isn’t MSM asking that question? How can the reactors be intact yet people are getting contaminated from radiation? Can’t they ask the most basic questions? Don’t they know people will on their own know someone is lying somewhere. Lets see….. the Japanese about the reactors not melted down and no radiation leaking or the U.S. military and the soldiers who are now showing radiation contamination? hhhmmm…. let me think about that.
another addition.. 9:26am est – I am flabbergasted CNN anchor says reactor exploded but NO Radiation Leaked! How can they say that with a straight face? When the U.S. military has been contaminated out in the ocean from radiation? How can they easily lie like that, when it doesn’t make sense? They are saying steam released had small amounts of radiation but they are not saying one word about MOX fuel in that steam.
Original post commences about MOX fuel
I am so Astounded that the Japanese have as many Nuclear Power Plants that they have on the most seismic place in the world! How they did not have 100 different back up plans is beyond me! Why didn’t they have their generators 50 feet in the air in case of tsunamis? I have thought of tons of questions regarding it all!
I am sadden by the tragedy in the first place, now the Man made tragedy is unfolding that is a million times worse than the natural tragedy!
We all know some of Japan’s nuclear power plants are in trouble and one exploded.
What is NOT Being released is the FUEL used in that plant! I read about it and decided to research it!
I am SHOCKED at what I found! This power plant meltdown can be 2 MILLION times Worse than Chernobyl! This could make the whole country of Japan uninhabitable, besides being carried around the world!
This is truly Sickening! In fact it really makes you wonder WHY they did not have 100 safety precautions in place! How dare they use MOX in a nuclear power plant in a place that is known for the biggest quakes and tsunamis! Besides Japan putting their plants right along side the ocean!
Read this whole post to understand the FULL ramifications of this Nuclear Plant Meltdown! There is a Power Point Presentation the UN put together for MOX fuel I downloaded it – but there is not a link to go to for it. I can’t insert power point presentations here either.
| Mixing it up: A MOX fuel rod on Saturday is loaded into a nuclear reactor in Fukushima Prefecture. KYODO PHOTO |
http://www.world-nuclear.org/info/inf29.html
about Mox use in nuclear plants
http://archive.greenpeace.org/nuclear/transport/plutoshipsumm.pdf
Green peace information about Mox going to Japan and their very strong concerns about it
http://brc.gov/Reactor_Fuel_Cycle_Technology_SC/docs/Oct_12_Mtg/Kazimi_BRCFuelCycleEvaluation.pdf
A Tepco – Japanese professor about Mox/uranium
http://www.inmm.org/scriptcontent/PNNL/2010/Session%2015%20-%20Safeguards%20by%20Design%20II/Yapunich%20-%20Commercial%20Viability%20of%20MOX%20Fuel%20Transport%20in%20the%20US/Yapuncich%20paper.pdf
DOE – info on Mox and transportation of it
ADDED – 3/14/11 11:25am est – Nuclear Regulatory Fact Sheet on MOX fuel.
http://www.nrc.gov/reading-rm/doc-collections/fact-sheets/mox.html
http://blogs.knoxnews.com/munger/2008/11/mox_fuel_coming_to_ornl.html
http://www.ieer.org/ensec/no-3/main.html
The joint study cites a number of safety precautions necessary in the fabrication of MOX fuel relative to uranium fuel. MOX fuel emits higher gamma radiation and much higher neutron radiation than uranium fuel. Therefore, a separate fresh fuel storage facility designed for MOX only fuel containers for on-site use, and transport equipment for fresh fuel may be necessary. Dust resulting from MOX fabrication is also a concern for worker safety because of the dangers of inhaling plutonium (see article on health effects of plutonium).
MOX Spent Fuel
Plutonium is both used up and produced when MOX fuel is used in reactors. MOX spent fuel contains more plutonium than conventional spent fuel (that is, spent fuel resulting from loading an LWR with low enriched uranium fuel). Conventional spent fuel from LWRs typically contains about one percent plutonium when it is withdrawn from the reactor. The amount of residual plutonium in MOX spent fuel would depend on the initial plutonium loading (percent of plutonium in the fuel), the burn-up of the fuel, and the configuration in which the fuel is used.
For light water reactors using MOX fuel, the NAS calculates that residual plutonium in the spent fuel would range from 1.6 percent (for a 33% MOX core with 4% plutonium loading) to 4.9 percent (for a 100% MOX core with 6.8% plutonium loading). Ranges of 2.5 percent to 6.8 percent plutonium loading have been suggested. In the case of a CANDU reactor using a 100% MOX core, the percentage of plutonium in MOX spent fuel would be between 0.8 and 1.4 percent for MOX fuel containing 1.2 percent and 2.1 percent plutonium, respectively.12
Repository disposal of MOX spent fuel is complicated not only by the higher plutonium content in MOX, but by the larger quantities of transuranic elements in the spent fuel as well. This results in MOX spent fuel being thermally hotter than conventional spent fuel. The presence of greater amounts of transuranic radionuclides like americium-241 also cause persistent higher spent fuel temperatures, and cause the decay of thermal power level to be slower. MOX spent fuel use may therefore require that a host of issues be revisited, such as design of transportation and disposal canisters, and design of on-site spent fuel storage casks. For instance, the higher temperatures may cause storage problems at reactors that have limited storage room in their spent fuel pools. The higher temperature may also result in a need for more repository space, unless a repository is designed to take hotter fuel and withstand higher temperatures. Greater repository space would result in proportionally higher repository disposal costs. In addition, if the amount of residual gallium in MOX spent fuel is too high, it may result in deterioration of the spent fuel cladding, create new issues in evaluating the suitability of a repository, and pose greater risk of groundwater contamination. There are some uncertainties as to the concentration of gallium that might adversely affect spent fuel integrity. The differences between spent MOX fuel and spent uranium fuel pose many complications for reprocessing as well.
#Danger of Losing Control of the Reactor Is Greater with MOX Conventional LWRs are designed to decrease the reactivity when the temperature rises. But when using Pu-239 as fuel, heating of the core from an increase in reaction rate tends to increase the reaction rate still further. This is called the positive temperature coefficient of reactivity, meaning there is a danger of losing control of the reactor by accelerated chain reaction of fissioning.(10)MOX spent fuel contains more fission products than uranium spent fuel. The important factor in managing spent fuel is the heat generation caused by the highly radioactive fission products. Since spent MOX fuel contains much more fission products, the heat generation from MOX spent fuel is twice as high as that of spent uranium fuel after 10 years and three times as high after 100 years.(14)Plutonium does not exist in the natural environment, and is only produced in nuclear reactors. It is known as one of the most toxic elements. It emits high energy alpha radiation, and has harmful biological effects. Alpha radiation has a very short range but very intense ionization power. If exposed on the surface of the skin, the skin works as a shield and will prevent its penetration into the body, but all of its ionizing power will be focused on the small spot, causing burns and killing the skin tissue. If inhaled into the body, the alpha particle will go in through the respiratory tract, and enter the lung. Due to its long half-life, it will stay in the body permanently, emitting alpha radiation, and killing the surrounding tissues by strong ionization. If plutonium is taken into the body in soluble form (e.g. plutonium nitrate) through food chain, it will enter the blood stream, and into the bones, liver and genital organs where it will be enriched. Alpha radiation leads to reactions in the cells of living things. It can cause damage to the nucleus and DNA of the cell, in effect causing genetic damage in descendants, particularly if germ cells are affected.(15) #Dangers of Resuspension in the Environment In the event of a contamination of the environment with plutonium, the whirling up and inhalation of plutonium particles, known as resuspension, plays an important role. If there is a road traffic, building work or cleaning work at the plutonium contaminated site, plutonium can enter the body through the respiratory tract. Generally, the more whirled up, the greater the dose intake per quantity of plutonium on the ground. If there is fire, and plutonium becomes airborne into fine aerosol particles, plutonium contamination of the environment will extend to a far larger scale, landing on ground, contaminating a vast wider area. Plutonium remains effective over very long periods affecting the health of the people and the environment.(16)#Accident Scenario When Burning MOX Accidents involving overheating and meltdown are possible in any nuclear reactors. In such accidents, not only would readily volatile noble gases, like iodine and caesium be released to the environment, but a small portion of the actinides, including plutonium and neptunium would be released. As the activity of the actinides is substantially higher in the case of MOX, the consequences of such severe accidents become more serious. When MOX fuels are used, the probability of having such serious accidents or trouble would increase due to the high content of plutonium in the fuel. Even if an accident is not a serious one, it could become serious since even a small portion of the inventory of actinides released to the environment could cause significant radiological consequences.#Accidents at Fabrication Plants Accidents at MOX fuel fabrication plants have occurred. In June, 1991, the storage bunker of the MOX fuel fabrication plant in Hanau, Germany was contaminated with MOX. It occurred after the rupture of a foil for container packaging in the course of an in-plant transportation process. Five workers were exposed to plutonium. This accident was the main reason the fabrication plant at Hanau was shut down.(19) In November, 1992, a rod was broken through a handling error and MOX dust released during the mounting of MOX fuel rods to fuel assemblies in the fuel fabrication facility adjoining the MOX facility in Dessel, Belgium.(20) In event of such accidents, if the International Commission on Radiological Protection (ICRP) recommendations for general public exposure were adhered to, only about 1 mg of plutonium may be released from a MOX facility to the environment. As a comparison, in uranium fabrication facility, 2kg (2,000,000mg)of uranium could be released in the same radiation exposure. A 1 mg release of plutonium from a processing process can easily happen from various smaller incidents.(21)
Must Watch video – Information about Plutonium in Nuclear Plants.
One other bit of information – KI pills do no good against MOX – it is only good for Uranium radiation. Plutonium is not affected by the pills!
EDIT TO ADD 3/13/11 8:54pm – Link to information about Plutonium Contamination of Large Land Areas.
It stays in the soil 100% for one inch. Even rain does not wash it away. This link also give diagrams of distance to amount of contamination of that distance.
I will say in my own opinion ALL Nuclear Power plants anywhere near fault lines need to be SHUT DOWN IMMEDIATELY! That includes those that are right on the fault in California (what brilliant idiots decided on that place?) and all that are near the New Madrid Fault! Nuclear power plants ARE NOT Clean Energy! In fact they contaminate the Earth on a level that takes thousands of years to eradicate.
World’s Top Radiation Expert, Dr. Chris Busby, Disagrees Fukushima Risks
Deadly tsunami slams into Japan, races across Pacific
 A 30-foot tsunami has slammed into the eastern coast of Japan following one of the most powerful earthquakes ever recorded, causing destruction and damage of mammoth proportions across the country. The 8.9-magnitude earthquake struck at a depth of just 10 kilometres, even shallower than the 6.7-magnitude earthquake that caused staggering destruction in the Haitian capital, Port-Au-Prince in 2010. Across half the world, tsunami warnings have been issued. Almost every country with a coast on the Pacific Ocean has signalled a tsunami alert and hundreds of thousands of people living in coastal areas are being advised to seek higher ground. Since the quake struck, Japan, along with nearby countries, has been struck by as many as 50 aftershocks, many reaching or exceeding 6-magnitude, leading Japanese authorities to issue further tsunami warnings. The scale of destruction is extreme. The tsunami swept several miles inshore, swallowing everything in its path. Horrific images on Japanese television showed the wall of broiling water devouring bridges, roads, farms, houses and vehicles, churning into a broth of deadly debris. According to initial reports, over 1,000 have already been confirmed killed. Authorities have announced 200 to 300 bodies were found in the north-eastern coastal city of Sendai, with a further 349 people missing. The death toll for the nation is likely to be much higher given the scale of the disaster. Although Japan has experienced powerful earthquakes in the past, it has never endured an 8.9-magnitude one and experts have agreed the situation is unprecedented for the Japanese government, which remained on high alert Friday night. A nuclear power plant just 170 kilometres outside the capital, Tokyo, was shutdown in the hours after the quake when its cooling system failed, causing the nuclear core to over-heat. No radiation leak has been reported, but thousands of residents living near the reactor have been ordered to evacuate. At the time of writing the plant’s core had still not begun to cool, despite an all-out shutdown. At least two other nuclear plants reported problems in the aftermath of the quake, though the Japanese government has not released further details. The national public transport system, world famous for its efficiency and time-keeping, has been brought to its knees, in Tokyo and wider northern Japan, all train services have been suspended, while major roads and highways have been either destroyed or closed due to damage. The level of disruption and chaos is immense. Tokyo Airport has been shut down stranding tens of thousands of passengers, Authorities in countries across the Pacific are bracing for similar damage as the tsunami races out across the world’s largest ocean. |
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