There Is No Such Thing As Inflation, Tuesday; Shhhhh! Japan Quietly Reveals Extremely High Radiation Outside Evacuation Zone, Higher Than Chernobyl; Today's Big Yawn: Gold And Silver Roar Back; Much More

Updates
Update 1: Iodine131 Highest level yet at 1,000,000 times above normal, confirms fission took/taking place. At this point in time, would it matter if it was 10 million, 100 million or 10 trillion times above normal?

Update 2: Reactor 4 is leaning- possible collapse imminent. 

Main Article
"There is no inflation," or so sayeth Dr. Deficit. However, as highlighted here and by many other sources numerous times, inflation is here and it's here to stay. The old inflation trick measure the Fed uses to calculate inflation is not only outdated, it's outright wrong. Why? This decades old inflation trick measure, which has been manipulated adjusted a dozen times over the past 50 years to remove any hint of inflation, completely removes the two most important metrics - food and energy. The Fed's reasoning is that food and energy are too volatile and fluctuate up and down too many times to give an accurate reading (strange, when was the last time you noticed food prices were down?). But what happens when food and energy prices continue to rise and have been sustained above a certain level for a certain period of time, as they have been for the past two years? I guess they forgot that the real world revolves around oil. Remember the record drop in oil last week? That giant drop amounted to not even one cent so far at the pump in the real world as this article from ZeroHedge so aptly points out. Yet, the price at the pump rises almost instantaneously when oil rises.

Since you already know the only export the US has is inflation, you don't have to think deep as to why Egypt's annual inflation rate has exploded to 12.1% in April. In fact, the same factors which caused Mubarak to get the boot are still there and getting worse. For example, food prices have climbed 20.7% YoY. Thus, reality dictates it doesn't matter who is in charge - inflation is there. As the Indian Reuters article points out, it's the weakness of the dollar which is creating global instability. Guess what creates dollar weakness? Guess Hu who knows that? Guess Hu who is buying gold and silver? Connect the dots. It goes without saying, last week's gold/silver sell off was a nice time for those shorts to cover as gold/silver have been roaring back, just as expected. This article says there is plenty of room to the upside. Seems logical. Then look at this guy's face. Makes us want to vomit.

In other news, Greek bonds rose slightly on news that they'll be getting more handout bailout money, to the tune of $115 to $140 Billion.  Reminds me of the old adage of giving a man a fish versus teaching him how to fish. Expect Greece to get more money every month from now until the whole financial system collapses or Finland says NO! The comedy show must go on. Until it doesn't.

Finally, as the media blackout of information about Fukushima continues (due to the severity of the situation and so as "not to create panic" or "lower public morale" if the truth was released), we get drips and drabs of radioactive info today from The Asahi Shimbun. Notice how very quietly, Japan releases information about the severity of the situation. The article highlights the fact (we already knew, but who cares) that radiation levels outside the evacuation zone are extremely high, higher even than around the evacuation around Chernobyl! Let me repeat that - radiation levels outside the evacuation zone are extremely high, higher even than around the evacuation around Chernobyl! But let's keep this a secret. We don't want mothers to worry about their children going to school in radioactive dirt. That might cause panic and that can't happen. It's all about the Benjamins.What would happen if a major earthquake struck Europe? It will be spun as bullish for the global economy and everyone will get another healthy dose of radiation.