Global Food Crisis Op Ed
It's rare that I speak out like this. But it just seems that the folks in leadership roles within the US gov't don't have a clue about the global impact of their decisions. Either that, or they are wholly aware and are doing it with intent and purpose - which makes me shudder even more...
Global Famine? Blame the Fed
by Mike Whitney April 27, 2008 - 10:30pm
The stakes couldn't be higher for Ben Bernanke. If the Fed chief decides to lower rates at the end of April, he could be condemning millions of people to a death by starvation. The situation is that serious. Food riots have broken out across the globe. Indonesia, Vietnam and India have imposed controls over rice exports. Wheat, corn and soya are at record highs and threatening to go higher still.
Bernanke's "weak dollar" policy has ignited a wave of speculation in commodities which is pushing prices into the stratosphere. Foreign banks and pension funds are trying to protect their investments by diverting dollars into things that will retain their value.
Otto Spengler's summary in his recent article in Asia Times, "Rice, Death and the Dollar":
"The global food crisis is a monetary phenomenon, an unintended consequence of America's attempt to inflate its way out of a market failure. The unprecedented spike in grain prices during the past year stems from the weakness of the American dollar. Washington's economic misery now threatens to become a geopolitical catastrophe....The link between the declining parity of the US unit and the rising price of commodities, including oil as well as rice and other wares, is indisputable."
The world is now facing the very real prospect of famine on a massive scale because twelve doddering old banksters at the Federal Reserve would rather bailout their sketchy friends than save the lives of starving women and children. Bernanke now has an opportunity to send more people to their eternal reward than Bush with one swipe of the pen. If he cut rates; the dollar will fall, commodities will spike, and people will starve. It's as simple as that.
http://www.smirkingchimp.com/thread/14289
More Information on The Food Crisis
Rationing food in the land of plenty? It's happening, reports The New York Sun.by Tom Philpott
Global Famine? Blame the Fed
by Mike Whitney April 27, 2008 - 10:30pm
The stakes couldn't be higher for Ben Bernanke. If the Fed chief decides to lower rates at the end of April, he could be condemning millions of people to a death by starvation. The situation is that serious. Food riots have broken out across the globe. Indonesia, Vietnam and India have imposed controls over rice exports. Wheat, corn and soya are at record highs and threatening to go higher still.
Bernanke's "weak dollar" policy has ignited a wave of speculation in commodities which is pushing prices into the stratosphere. Foreign banks and pension funds are trying to protect their investments by diverting dollars into things that will retain their value.
Otto Spengler's summary in his recent article in Asia Times, "Rice, Death and the Dollar":
"The global food crisis is a monetary phenomenon, an unintended consequence of America's attempt to inflate its way out of a market failure. The unprecedented spike in grain prices during the past year stems from the weakness of the American dollar. Washington's economic misery now threatens to become a geopolitical catastrophe....The link between the declining parity of the US unit and the rising price of commodities, including oil as well as rice and other wares, is indisputable."
The world is now facing the very real prospect of famine on a massive scale because twelve doddering old banksters at the Federal Reserve would rather bailout their sketchy friends than save the lives of starving women and children. Bernanke now has an opportunity to send more people to their eternal reward than Bush with one swipe of the pen. If he cut rates; the dollar will fall, commodities will spike, and people will starve. It's as simple as that.
http://www.smirkingchimp.com/thread/14289
More Information on The Food Crisis
Rationing food in the land of plenty? It's happening, reports The New York Sun.by Tom Philpott
Labels: editorial, famine, food crisis
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