Like Clockwork May 8th 2011 Was Fukushima May Day; Gundersen Confirms #3 Explosion Was SFP, Groundwater Contamination Worst In History; Surprise, Surprise! Radiation Levels In Reactor 1 At 700mSv Per Hour;Surprise, Surprise: Housing Crash Getting Worse; Portuguese Banks Borrow Record Amount In April, Bailout In Question; Big Yawn Of The Day: Greece Downgraded Again; Soini: "Europe Is Insolvent"; Much More

On Friday, we reported that an email sent from an official in Japan as reported by Energy News, stated May 8th would be the day when a "massive release of dense radiation would be released into the atmosphere." Thus, we called May 8th, "May Day" and just like clockwork, May 8th, 2011, during the early hours of the day, what appears to be a raging fire broke out at reactor 3. If this is steam, then indeed temperatures have risen significantly and "dense radiation" is being released. If this is smoke, then the worst case scenario has occurred. Both would explain the total media blackout as "they must lie to keep panic from spreading." (I suggest you bookmark that HP page and send it to your friends and loved ones)

Perhaps the most telling part of this whole catastrophe is not what they are saying but rather what they are not saying. It's happening right before our very eyes. Why is Japan not allowing a research vessel to conduct independent tests of the water off the coast of Japan? You can figure that out yourself. 

Since, as we reported by an article in the Sydney Morning Herald on Friday that said you can't trust paid "experts," there are few sources remaining that openly report the truth about this situation. One of the most trusted sources, and one that we have quoted from on a weekly if not sometimes daily basis, is Fairewinds Associates. Again, they never disappoint. This must watch video from Arine Gundersen explains a lot. Here are some key points:

-Groundwater contamination is the worst in nuclear history
-There are still many leaks around the plant
-Not only has the US EPA discontinued radiation monitoring of air and fish, Japan is preventing independent tests on it's territory
-The whole situation is much worse than the officials are reporting
-The number 3 reactor explosion was from the spent fuel pool, worst has occurred

Even more telling than the whole media blackout is perhaps the fact that only a Chinese news agency is reporting that radiation levels inside reactor number 1, as we also reported on Friday, are at 700 mSv per hour. That level means only a few minutes of exposure would lead to death. You won't see that anywhere else. But Hu who cares? As long as that radiation doesn't directly impact me, right? So you think. Was is reassessed? 

In other radioactive news, the US housing crisis is getting worse, much worse and there is no end in sight. Sigh. So much for the "trickle down wealth effect." The only thing turning the printing presses up to 11 did was create inflation in the things we need and deflation in the things we want to sell. In short, it made the rich, far, far richer than before and the poor... well you know. Just ask Portugal, which has the second highest unemployment in the EU and had to borrow a record amount for its banks during April. How about that 23% increases in borrowing to keep the lights on? Stay ahead of the game and keep the physical gold and silver in your physical pocket.

Remember what the Portuguese officials told you, for months - "we don't need a bailout." Of course, a few hours later, a preplanned bailout was rolled out. So what to do but deny? How about throw down a bogus inquiry into ratings agencies? That deserves a true laugh out loud. The circus never ends. Except of course, if Finland has its way. 

Finland has the power to end the whole bailout free-for-all this week. We shall see. Right now, they are sticking to the guns.

In other radioactive news, the European Union is insolvent. But you already knew that, unless you were "one of the idiots" who didn't know that. Timo Soini, the Finnish Chair said, "This official version is a lie, one that takes the ordinary people of Europe for idiots. They deserve better from politics and their leaders." Harsh words from Finland. Perhaps tough love is needed. 

Finally, since the whole EU is insolvent, that makes Greece the poster child for the EU and the S&P congratulates them with another downgrade in a long line of downgrades. Act surprised. There are of course, many more downgrades to come. Why not just downgrade the whole European (Dis)Union to junk already? Because they've got to keep circus running, no matter how many people buy into it. Another excellent article from ZeroHedge, expands on an article we quoted from Friday which shows when the situation is really bad, they have no other choice but to lie, lie and lie some more. Remember those rumors of a secret meeting about Greece leaving the EU? They lied about it. So much for their credibility. What's that old adage about a liar and a thief? Oh, right- they're one in the same. Guess where all that "bailout money" is going? Connect the dots.