CONCEPTUAL ORDNANCE AND SYMBOLIC MUNITIONS FOR THE PARADIGM WARRIOR.

Posts tagged “banking crisis

Wake up and smell the Kefaya.

 

 

Hmm..   Check out this article over at Breitbart:

World food prices hit record high: UN agency

(Feb 3 08:14 AM US/Eastern)

World food prices reached their highest level ever recorded in January and are set to keep rising for months, the UN food agency said on Thursday, warning that the hardest-hit countries could face turmoil.Rising food prices have been cited among the driving forces behind recent popular revolts in north Africa, including the uprising in Egypt and the toppling of Tunisia’s long-time president Zine El Abidine Ben Ali.

And in its latest survey, the Food and Agriculture Organisation said its index which monitors monthly price changes for a variety of staples averaged 231 points in January — the highest level since records began in 1990.

 

Dylan Ratigan and Bill Fleckenstein put 2 and 2 together and show that high food prices are correlated with social unrest in the Arab world .. just so Bernanke and Co. can paper over  the GIGANTIC fraud perpetrated by the very large banks:

Tyler Durden of Zero Hedge had this to add:

For over a year now, Zero Hedge has been predicting that in its foolhardy attempt of “inflation or bust”, the Fed’s actions would sooner or later lead to mass rioting and possible revolutions as a result of surging and out of control food prices (which are just the peak of the alternative investment pyramid – yes, stunningly free money can go into other things besides stocks).

The problem is that these same people do not realize that to Bernanke (whom we have referred Genocide Ben for precisely this reason) there is no other alternative, and inflation must be achieved no matter how terrible the social cost, or the damage to the monetary system. Regardless, the actions in North Africa are just the start. Commodities will run up far higher, and discontent will sooner or later reach to Asia, and possibly to countries which have nuclear arsenals at their disposal. What happens then is anyone guess.

Oh and there is this fact, which Karl Denninger is good enough to remind us of:

The Egyptian Pound (EGP) has been pegged to the dollar on an effective basis since 2005.

Their compound inflation rate over the last three years is 45%.

That is, the cost of living has risen 45%.

Their per-capita GDP is 1/17th of ours, and hasn’t materially expanded during that time.

Our per-capita GDP is $47,000, which is quite close to median household income (right near $50k.)

Their per-capita GDP is $2,700 (both from the CIA World Factbook.)

Would you like to run the numbers on what a 45% increase in the CPI would do to someone living here with a $2,700 per-capita domestic output (which likely closely approximates household income there too)?

That person would starve…. and maybe riot, eh?

 

 

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Clarke and Dawes ask the million dollar questions News Australian Broadcasting Corporation r570104 3512544

Pretty much spot on (a little dark humour, as it were).

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Dylan Ratigan on the FED and "The Greatest Con Job in the History of the World" | Ron Paul 2012 | Campaign for Liberty at the Daily Paul

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William Black On Why "Recurrent Crises Will Get Bigger And More Disastrous" And Why All Talk Of Change By The Administration Is Just Posturing | zero hedge

Here is a snippet from the introductory article over at Zero Hedge:

The ever insightful William Black sits down with PBS’ Paul Solman to note that most of the too big to fail banks are currently insolvent, that mortgage fraud is pervasive and lender complicit, and that unlike in previous systemic crashes, not only person has been indicted for the trillions in mortgage fraud perpetrated. “At this stage we have zero convictions, we have zero indictments.” But the most damning indictment from Black: that Congress managed to extort FASB to change their rules just so that the big banks would continue to appear healthy and solvent, even as unworthy execs made tens of billions in bonuses.

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