As Insana said, wouldn't it make sense for Japan to sell gold instead of dollar assets? Driving the dollar down even more hurts the Japanese economy as much as the quake. So, cash can be raised by gold sales (Japan is the #8 or 9 gold reserve holder).
Although Japan is ninth largest gold owner in the world, its 765.2 tonnes of gold accounts for just 2.1% of the nation's total foreign reserves. On the open market, Japan's gold reserves would fetch approximately $25.4 billion and are managed by the Bank of Japan. 25.4 Billion would be swallowed up in a week if Japan dumped it. I can assure you Japan won't sell 1/4 of that. Now what else you got market illogic? I'll step on you like an ant lol