Saturday
Feb122011
Schultz With Ratigan: How Bernanke's Printing Press Is Causing Global Revolution (Video)
Video - Ed Schultz with Dylan Ratigan - Feb. 2, 2011
At the National Press Club last week, Bernanke was asked if Fed money-printing is causing unrest in Egypt, Tunisia and other nations, by spiking commodity and food prices. Bernanke denied it, but we know his history with telling the truth.
The evidence to the contrary is overwhelming...
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More detail is here...
Feb 12, 2011 at 3:02 PM
Reader Comments (7)
http://www.newsdaily.com/stories/tre7160st-us-brazil-usa-geithner/
[snip]
Geithner avoided mentioning China by name, but attributed some of Brazil's problems to countries "that understand the value of having an undervalued currency" -- a clear reference to China's yuan.
There is no, repeat no, food shortage on the planet today. Sort of… Using the United Nations suggested daily calorie intake there is more than sufficient foodstuffs produced annually, globally. Period. Now then, the question is how you use them....for example, if you wanted to bring the daily calorie level in both China and India up to the U.N. level it would take an additional, not total but additional, 31 million tons of foodstuffs. To put that in perspective the U. S. ethanol fraud consumed 165 million tons of corn during 2010. China has 2.3 trillion dollars in Treasuries but chooses not to expend it on foodstuffs for its own population. India was a net exporter of wheat in 2010.....I had the opportunity to have dinner with the Chairman of one of the largest commodity/food processors in the world over the holidays....there is no food shortage...and the American ethanol scam has absolutely destroyed relationships with food importers from the U.S. , like Egypt for example, that took decades to develop....and now for some Physics: if ethanol were in fact a "sum positive" they would use ethanol as the energy source to produce (boil/distill) more ethanol/corn mash.....and they, the ethanol producers, don't......because it consumes more energy to make a gallon than you get out of it (referred to as the “thermal load factor”)....It’s nothing like an oil refinery that uses part of the barrel of crude oil to power the refinery.
Just think- 40% of the American corn crop now goes for the 10% gasoline EPA mandated blend rate yet the EPA is pushing to raise the blend rate to 15%--or 60% of Americas corn crop. As an aside 80% of the canola crop, a premium cooking oil, is used for bio-fuels in Germany. Double the price of corn and bull doze another million acres of Amazon jungle to plant; triple the price of tortillas and watch the Mexicans pour north across the border. Noted: Chuck Grasley, the erstwhile Republican Senator, is the mouthpiece for the ethanol scam. He farms 4,120 acres of Iowa corn ground. My source tells me that without the ethanol scam (and it was renewed for only 1 year…) the price of wheat goes to 4$ and corn to $3.35.
In fact the Monsantos, Deeres, ADMs, et. al. legislated a doubling of food stuffs pricing via the ethanol fraud. Cargills Mosaic fertilizer group of which they own(ed)60% of Mosaic got nearly half of Cargills net from fertilizer. If you really want a story on fertilizer pricing worldwide........call the Kremlin. That's where the folks call Potash and set their pricing....which the Canadian and Saskatchewan allow them to do "without civil or criminal prosecution" according to Cargills 1982 agreement with them. Recall last summer when BHP wanted to buy Potash...but backed away after they "discovered" the price fixing arrangement with Cargill/Mosaic.....as well as the "ties that bind" with the Russian mob.
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Read more: http://www.mcclatchydc.com/2011/02/05/108180/bush-trip-to-switzerland-canceled.html#storylink=omni_popular#ixzz1DHwqyjVj
There is a clear consensus in Israel about the necessity of democracy, but when it comes to Egypt, suddenly Israelis are shaking.
http://www.haaretz.com/print-edition/opinion/israel-supports-democracy-except-in-the-case-of-egypt-1.341499
Almost A Total Dollar Devaluation By The Fed
Bob Chapman
That is because corn has a poor conversion ratio to alcohol compared to other crops, many other things (hemp, switchgrass, etc.) convert easier and yield up to three times higher in alcohol per acre. Meanwhile we still pay farmers not to farm, and 90% of the subsidies go to 10% of the agri businesses.