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Archive for April 10th, 2011

Soros And Gang Re-Order Global Finance At New Bretton Woods II

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April 10, 2011: Mary Claire Kendall / The Washington Examiner – April 9, 2011

While all the focus is now on the three-ring circus in Washington vis-a-vis passing the fiscal 2011 budget the Democrats failed to pass in 2010, up in New Hampshire this weekend at Bretton Woods, the Institute for New Economic Thinking is convening a very important conference, “CRISIS and RENEWAL: International Political Economy at the Crossroads.”

It’s no accident they’re meeting on the very same site as the Bretton Woods Conference — formally United Nations Monetary and Financial Conference — that met from July 1-22, 1944, during World War II to plan the postwar financial world after the expected defeat of Germany and Japan.

That’s because the purpose of this weekend’s conference is to reorder world finance in the wake of the near-collapse of the global financial system in 2008. Like Bretton Woods, they must expect some new calamity, with winners and losers.

The groundwork was laid a year ago at INET’s inaugural meeting at which George Soros teed off with his “Anatomy of Crisis – The Living History of Last 30 Years: Economic Theory, Politics and Policy.”

“I am afraid,” he said, “the current discussions miss the main point: namely that the recent financial crisis was not only a market failure but also a regulatory failure. “And what matters now is not so much who regulates, but how. Regulators ought to undertake a course of critical self-examination – Chinese style.”

Soros, by the way, is funding this initiative to the tune of $50 million whereby 200 academic, business and government policy leaders focus on “establishing new international rules” and “reform the currency system.”

Maybe that’s why President Obama is cool as a cucumber — spending nearly a billion to invade Libya without breaking a sweat despite the fact we are broke, and skipping town to campaign for his 2012 re-election in the middle of tense budget negotiations. Obama knows the world financial system is being reconfigured – “Chinese style.” He may be reasoning that “George has got my back.”

America is worn out from funding the world’s needs, so now, lagging behind financially as a result, it’s time to reorder the global financial order to reflect present-day economic realities. And, boy have we shelled out the dough.

Just a week ago, on April Fool’s no less, Federal Reserve Board Chairman Ben Bernanke lost his two-year battle to protect “crisis-squeezed” banks from the “stigma” of having received “public loans” during the 2008 unraveling.

What was revealed is that foreign interests disproportionately benefited from American largesse – including local governments in Belgium, a Japanese fishing-cooperative financier and a company part-owned by the Central Bank of Libya.

Brussels and the Paris-based Dexia SA (DEXB) borrowed some $33.5 billion from the Fed’s 97-year-old “discount window” lending program and Dublin-based Depfa Bank Plc (a German real-estate lender took it over in 2007, before it was seized by the German government), drew $24.5 billion.

At the peak of the crisis during the record surge in October 2008, 70 percent of the $110.7 billion borrowed went to foreign banks. These disclosures – contained in Fed documents released in response to a Freedom of Information Act request – will surely prompt a re-examination of the risks U.S. taxpayers bear because of the Fed’s role in global financial markets.

All the while, Americans can’t get loans to start and/or invest in businesses or afford a home; two-thirds of consumers can’t even afford to refinance their mortgages, often to avoid defaulting.

With Soros and company picking winners and losers – “Chinese style” – little wonder Donald Trump – as canny as they come, vis-a-vis America’s global financial position – is surging in the polls among Republican presidential primary voters.

Soros Holds Bretton Woods II

The Tonka Report Editor’s Note: The fox guarding the henhouse… Problem – Reaction – Solution! – SJH

Link to original article below…

TEPCO Refuse Chernobyl Approach To Resolving Fukushima Crisis

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April 10, 2011: The Mainichi Daily News Editor’s / The Mainichi Daily News – April 8, 2011

There is clearly some other hidden agenda with regard to this decision by TEPCO for not entombing the site, and it’s not just the money. Something else is going on there– SJH

It may take 10 years to start removing damaged nuclear fuel from the Fukushima No. 1 Nuclear Power Plant, but the plant’s operator is adamant not to bury the damaged reactors while fuel remains in them, a company official has told the Mainichi.

“We will not bury the site while radioactive materials remain. We will definitely remove the fuel,” Tokyo Electric Power Co. (TEPCO) adviser Toshiaki Enomoto told the Mainichi in an interview, stressing that the company would not bury the reactors in concrete in a “stone tomb” approach like the one adopted at Chernobyl.

TEPCO chairman Tsunehisa Katsumata has announced plans to decommission the plant’s No. 1 through 4 reactors. Normally it takes 20 to 30 years to decommission a reactor, but the process at the Fukushima No. 1 Nuclear Power Plant is expected to take even longer as workers must start by developing specialized equipment to remove damaged fuel.

Enomoto said that for the time being the ongoing process of injecting water into the No. 1, 2 and 3 reactors at the plant was essential. “There is no other option but to inject water. We want the fuel to stop melting,” he said.

The plant’s residual heat removal system could take a month to get up and running again, Enomoto said. An additional cooling system will also be constructed but it is expected to take several months before the reactors can be brought to a cold stop.

A facility to purify contaminated water responsible for radioactive leaks to a level where it can be released will be constructed from this month. At the same time measures will proceed to have radioactive material contained within the reactor buildings within a few months, Enomoto said. At this stage, evacuation orders applying to local bodies around the plant are expected to be reviewed.

Enomoto said nuclear fuel at the plant could not be removed using conventional methods for two reasons: The reactor buildings are damaged, and measures are needed to prevent the spread of radiation; and 25 to 70 percent damage has occurred to the fuel rods in the No. 1, 2 and 3 reactors. New methods to remove the fuel must be developed, and it will take 10 years before workers can start removing fuel, he said.

Commenting on TEPCO’s response to the disaster, Enomoto said, “Problems that we had not predicted happened one after another. Even inspecting the site has been difficult, and this accumulation of events has been responsible for the work not going as we have hoped.”

The U.S. Nuclear Regulatory Commission said that it took five years for workers to be able to open a pressurized container following the Three Mile Island Nuclear Generating Station accident in March 1979, when about 45 percent of the nuclear reactor fuel melted. It was another six years before the removal of nuclear fuel was completed. Dismantling work has still not yet begun.

Enomoto graduated from the University of Tokyo’s Faculty of Engineering and entered TEPCO in 1965. He worked at the Fukushima No. 1 Nuclear Power Plant four times, including when the No. 1 reactor was started up on a trial basis in 1970. He resigned as executive vice president and head of the company’s nuclear power headquarters in 2002 over the cover-up of nuclear reactor trouble.

Fukushima Nuclear Disaster Cover-Up

The Tonka Report Editor’s Note: Is not covering up the reactor’s all about saving money and the fuel, or extricating a covert “weapons program” at the expense of world health as radiation continues to be released? Either way, there is something very sinister happening in Japan by not covering these reactors… – SJH

Are Japanese Elite Hiding A ‘Weapons Program’ Inside Fukushima?

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Japan Radiation Fallout Forecast Across North America — April 11

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April 10, 2011: Uploaded by  / YouTube – April 7, 2011

The Tonka Report Editor’s Note: The real danger with radiation exposure is cumulative dosage– SJH

Link to original video below…