"... Japan was struck by its strongest earthquake in at least a century, an 8.9-magnitude temblor that shook buildings across Tokyo and unleashed a tsunami as high as 10 meters, engulfing towns along the northern coast. At least 26 people were killed by the 33-foot wave and many are missing, according to state broadcaster NHK Television, which showed footage of waves sweeping away buildings and vehicles as far as 1.5 kilometers inland. Airports were closed and bullet train services suspended. More than 4 million homes are without power, Tokyo Electric Power Co. said.. " From:http://noir.bloomberg.com/apps/news?pid=20601087&sid=a2eE5ySh655k Do you think the economic fallout will be limited to Japan, or more global? Initial economic reactions seem to be mild: "...The Nikkei 225 Average fell after the quake and closed 1.7 percent down. Japanese government bonds rose sending the yield on the 10-year security down 2.5 basis points to 1.27 percent. ..." from above link. Billy T comments: the Japanese yen has not fallen with the Dollar or the Euro's recent declines wrt to gold. Perhaps it will now?