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Time for talk is OVER: Trump & Japan agree to ramp up pressure on North Korea

North Korea Japan Missile

PRESIDENT Donald Trump and Japanese prime minister Shinzo Abe have agreed time for dialogue with North Korea is now over following Pyongyang’s latest missile launch on Tuesday morning.

Mr Abe denounced the launch as an “unprecedented and grave threat” to the country’s security after over the northern Japanese island of Hokkaido before crashing into the sea.

In a 40-minute phone call with President Trump, the two leaders agreed to call for an emergency meeting of the UN security council as the odds of an all-out conflict continue to drop.

Japanese media claim ”the latest launch makes it clear” the time is not right for dialogue with and increased pressure is instead necessary, quoting a senior Tokyo official.

Meanwhile, President Trump reportedly reaffirmed his commitment to maintaining peace in the region, telling Abe the US is “100 per cent with Japan”.

Mr Trump and Mr Abe also agreed in addressing the North Korea issue.

READ MORE AT SOURCE:

https://www.express.co.uk/news/world/847009/north-korea-news-latest-japan-missile-trump-abe-dialogue-talk-world-war-3-kim-jong-un

More detail now:
  • Reports are that 3 missiles fired
  • Reports of submarine launched but this appears to be incorrect – missiles launched from eastern part of North Korea
  • Missile fired at 0558 Japan time
  • One (at least) passed through Japanese air space at 6.06am (Japan time)
  • One (at least) landed in the Pacific east of Japan after passing through Japanese airspace
  • One of the missile broke up into 3 parts (this may be why reports of 3 missiles – still unclear)

Sovereign Debt Jubilee, Japanese Style, By Ellen Brown

Sovereign Debt Jubilee, Japanese-Style Thursday, June 29, 2017 By Ellen Brown, The Web of Debt Blog | News Analysis

Let’s face it. There is no way the US government is ever going to pay back a $20 trillion federal debt. The taxpayers will just continue to pay interest on it, year after year.

A lot of interest.

If the Federal Reserve raises the fed funds rate to 3.5% and sells its federal securities into the market, as it is proposing to do, by 2026 the projected tab will be $830 billion annually. That’s nearly $1 trillion owed by the taxpayers every year, just for interest.

Personal income taxes are at record highs, ringing in at $550 billion in the first four months of fiscal year 2017, or $1.6 trillion annually. But even at those high levels, handing over $830 billion to bondholders will wipe out over half the annual personal income tax take. Yet what is the alternative?

Japan seems to have found one. While the US government is busy driving up its “sovereign” debt and the interest owed on it, Japan has been canceling its debt at the rate of $720 billion (¥80tn) per year. How? By selling the debt to its own central bank, which returns the interest to the government. While most central banks have ended their quantitative easing programs and are planning to sell their federal securities, the Bank of Japan continues to aggressively buy its government’s debt. An interest-free debt owed to oneself that is rolled over from year to year is effectively void – a debt “jubilee.” As noted by fund manager Eric Lonergan in a February 2017 article:

The Bank of Japan is in the process of owning most of the outstanding government debt of Japan (it currently owns around 40%). BoJ holdings are part of the consolidated government balance sheet. So its holdings are in fact the accounting equivalent of a debt cancellation. If I buy back my own mortgage, I don’t have a mortgage.

If the Federal Reserve followed the same policy and bought 40% of the US national debt, the Fed would be holding $8 trillion in federal securities, three times its current holdings from its quantitative easing programs.

Eight trillion dollars in money created on a computer screen! Monetarists would be aghast. Surely that would trigger runaway hyperinflation!

But if Japan’s experience is any indication, it wouldn’t. Japan has a record low inflation rate of .02 percent. That’s not 2 percent, the Fed’s target inflation rate, but 1/100th of 2 percent – almost zero. Japan also has an unemployment rate that is at a 22-year low of 2.8%, and the yen was up nearly 6% for the year against the dollar as of April 2017.

Selling the government’s debt to its own central bank has not succeeded in driving up Japanese prices, even though that was the BoJ’s expressed intent. Meanwhile, the economy is doing well. In a February 2017 article in Mother Jones titled “The Enduring Mystery of Japan’s Economy’s Economy,” Kevin Drum notes that over the past two decades, Japan’s gross domestic product per capita has grown steadily and is up by 20 percent. He writes:

It’s true that Japan has suffered through two decades of low growth . . . . [But] despite its persistently low inflation, Japan’s economy is doing fine. Their GDP per working-age adult is actually higher than ours. So why are they growing so much more slowly than we are? It’s just simple demographics . . . Japan is aging fast. Its working-age population peaked in 1997 and has been declining ever since. Fewer workers means a lower GDP even if those workers are as productive as anyone in the world.

Joseph Stiglitz, former chief economist for the World Bank, concurs. In a June 2013 article titled “Japan Is a Model, Not a Cautionary Tale,” he wrote:

Along many dimensions — greater income equality, longer life expectancy, lower unemployment, greater investments in children’s education and health, and even greater productivity relative to the size of the labor force — Japan has done better than the United States.

That is not to say that all is idyllic in Japan. Forty percent of Japanese workers lack secure full-time employment, adequate pensions and health insurance. But the point underscored here is that large-scale digital money-printing by the central bank used to buy back the government’s debt has not inflated prices, the alleged concern preventing other countries from doing it. Quantitative easing simply does not inflate the circulating money supply. In Japan, as in the US, QE is just an asset swap that occurs in the reserve accounts of banks. Government securities are swapped for reserves, which cannot be spent or lent into the consumer economy but can only be lent to other banks or used to buy more government securities.

Debt Japanese

The Bank of Japan is under heavy pressure to join the other central banks and start tightening the money supply, reversing the “accommodations” made after the 2008 banking crisis. But it is holding firm and is forging ahead with its bond-buying program. Reporting on the Bank of Japan’s policy meeting on June 15, 2017, The Financial Times stated that BoJ Governor Kuroda “refused to be drawn on an exit strategy from easy monetary policy, despite growing pressure from politicians, markets and the local media to set one out. He said the BoJ was still far from its 2 per cent inflation goal and the circumstances of a future exit were too uncertain.”

Rather than unwinding their securities purchases, the other central banks might do well to take a lesson from Japan and cancel their own governments’ debts. We have entered a new century and a new millennium. Ancient civilizations celebrated a changing of the guard with widespread debt cancellation. It is time for a twenty-first century jubilee from the crippling debts of governments, which could then work on generating some debt relief for their citizens.

This piece was reprinted by Truthout with permission or license. It may not be reproduced in any form without permission or license from the source.

Ellen Brown

Ellen Brown is an attorney, president of the Public Banking Institute and author of 12 books including the best-selling Web of Debt. In The Public Bank Solution, her latest book, she explores successful public banking models historically and globally. Her websites are The Web of Debt Blog, Public Bank Solution and Public Banking Institute.

https://www.truth-out.org/news/item/41099-sovereign-debt-jubilee-japanese-style

Fukushima: Japanese Government Guilty Of Destroying Pacific Ocean

News

Source:Neon Nettle

The Japanese Government has been ordered to pay tens of millions in compensation after it was found guilty of negligence causing the Fukushima nuclear disaster.Reports also claim that the ruling could also include other pacific nations like the US who could also be eligible for compensation from the Japanse government who have effectively poisoned the entire Pacific Ocean and damaged the world’s food chain beyond repair.YNW reports: The nuclear plant operator, Tokyo Electric Power Co. Holdings, was also found guilty of negligence that led to the disaster that nuclear experts say will likely continue affecting wildlife and humans for the next 250,000 years.

Friday’s stunning ruling by the Maebashi District Court was the first to recognize negligence by the state and Tepco. Previously the Japanese government and Tepco, a subsidiary of General Electric, had strongly denied any wrongdoing, arguing they were the victims of bad luck.The judge called the massive tsunami “predictable” and said the major nuclear disaster, which is responsible for 300 tons of radioactive water entering the Pacific Ocean every single day, could have been avoided.According to Japan Times: The district court ordered the two to pay damages totaling ¥38.55 million to 62 of 137 plaintiffs from 45 households located near the plant, which suffered a triple meltdown caused by the tsunami, awarding ¥70,000 to ¥3.5 million in compensation to each plaintiff.The plaintiffs had demanded the state and Tepco pay compensation of ¥11 million each — a total of about ¥1.5 billion — over the loss of local infrastructure and psychological stress they were subjected to after being forced to relocate to unfamiliar surroundings.Citing a government estimate released in July 2002, the court said in the ruling that “Tepco was capable of foreseeing several months after (the estimate) that a large tsunami posed a risk to the facility and could possibly flood its premises and damage safety equipment, such as the backup power generators.”It pointed out that the state should have ordered Tepco to take bolstered preventive measures, and criticized the utility for prioritizing costs over safety.Fukushima Radiation Has Contaminated The Entire Pacific OceanThe nuclear disaster has contaminated the world’s largest ocean in only five years and it’s still leaking 300 tons of radioactive waste every day.According to a True Activist report: Radioactive Debris from Fukushima approaching North America’s western coast. If that weren’t bad enough, Fukushima continues to leak an astounding 300 tons of radioactive waste into the Pacific Ocean every day. It will continue do so indefinitely as the source of the leak cannot be sealed as it is inaccessible to both humans and robots due to extremely high temperatures. It should come as no surprise, then, that Fukushima has contaminated the entire Pacific Ocean in just five years. This could easily be the worst environmental disaster in human history and it is almost never talked about by politicians, establishment scientists, or the news. It is interesting to note that TEPCO is a subsidiary partner with General Electric (also known as GE), one of the largest companies in the world, which has considerable control over numerous news corporations and politicians alike. Could this possibly explain the lack of news coverage Fukushima has received in the last five years? There is also evidence that GE knew about the poor condition of the Fukushima reactors for decades and did nothing. This led 1,400 Japanese citizens to sue GE for their role in the Fukushima nuclear disaster – and now have been found guilty.

Even if we can’t see the radiation itself, some parts of North America’s western coast have been feeling the effects for years. Not long after Fukushima, fish in Canada began bleeding from their gills, mouths, and eyeballs. This “disease” has been ignored by the government and has decimated native fish populations, including the North Pacific herring.Elsewhere in Western Canada, independent scientists have measured a 300% increase in the level of radiation. According to them, the amount of radiation in the Pacific Ocean is increasing every year. Why is this being ignored by the mainstream media? It might have something to do with the fact that the US and Canadian governments have banned their citizens from talking about Fukushima so “people don’t panic.”

Further south in Oregon, USA, starfish began losing legs and then disintegrating entirely when Fukushima radiation arrived there in 2013. Now, they are dying in record amounts, putting the entire oceanic ecosystem in that area at risk. However, government officials say Fukushima is not to blame even though radiation in Oregon tuna tripled after Fukushima. In 2014, radiation on California beaches increased by 500 percent. In response, government officials said that the radiation was coming from a mysterious “unknown” source and was nothing to worry about.However, Fukushima is having a bigger impact than just the West coast of North America. Scientists are now saying that the Pacific Ocean is already radioactive and is currently at least 5-10 times more radioactive than when the US government dropped numerous nuclear bombs in the Pacific during and after World War II. If we don’t start talking about Fukushima soon, we could all be in for a very unpleasant surprise.

http://countercurrentnews.com/2017/05/fukushima-japanese-government…

UK Authorities Considering Adding Lithium To Drinking Water?

Telegraph.co.uk

Very low levels of lithium in drinking water may help prevent suicide in the general population, according to a new study.

The study has prompted calls for further research into the possibility of adding lithium to drinking supplies – like water fluoridation to improve dental health.

Researchers at Oita University in Japan measured natural lithium levels in tap water in 18 communities in the surrounding region of southern Japan.

The lithium levels ranged between 0.7 micrograms per litre and 59 micrograms per litre.

The researchers then calculated the suicide rate in each of the 18 areas. They found that the suicide rate was significantly lower in those areas with the highest levels of lithium in the water.

For the rest of the article, go here.

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