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Jim Rogers: Brace Yourself For Food Shortages, Thanks To The Banks Hoarding Cash
The Business Insider ^ | 1/15/10 | Vincent Fernando

Posted on 01/15/2010 9:21:42 AM PST by FromLori

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1 posted on 01/15/2010 9:21:45 AM PST by FromLori
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To: FromLori

The banks are not hoarding cash they are loaning it all to government. Buying bonds. Then borrowing more from the federal reserve at .25% and buying bonds at 3%.

There is a wild man in charge and this is the safest bet they could find.


2 posted on 01/15/2010 9:25:29 AM PST by GeronL (http://libertyfic.proboards,com)
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To: perchprism; LomanBill; JDoutrider; tired1; Maine Mariner; demsux; April Lexington; Marty62; ...

ping

related

http://thepacker.com/Freeze-to-cause—significant—vegetable-price-increases/Article.aspx?articleid=975156&authorid=1662&categoryid=122&feedid=215&src=top

http://thepacker.com/Freeze-destroys-much-of-Florida-s-tomato-crop/Article.aspx?articleid=975082&categoryid=122&feedid=215&src=top

http://www.chron.com/disp/story.mpl/gardening/features/6809275.html

http://www.freerepublic.com/focus/f-news/2428855/posts


3 posted on 01/15/2010 9:25:35 AM PST by FromLori (FromLori)
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To: GeronL

I posted it because of the food aspect and have posted some additional links about price hikes coming you might want to look at.


4 posted on 01/15/2010 9:27:15 AM PST by FromLori (FromLori)
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To: NewJerseyJoe

P4L


5 posted on 01/15/2010 9:28:19 AM PST by NewJerseyJoe (Rat mantra: "Facts are meaningless! You can use facts to prove anything that's even remotely true!")
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To: Red_Devil 232; tubebender

Interesting story. Jim Rogers usually has good insight. Another good reason to have your own garden and to can your own food!


6 posted on 01/15/2010 9:28:31 AM PST by MtnClimber (Be a Patriot, contribute to Free Republic today!)
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To: FromLori
US Farmers Plant Fewest Wheat Acres Since 1913

This article also indicates concern.

A government report shows the nation's farmers planted the fewest winter wheat acres this season since 1913.

The Agriculture Department reported Tuesday that the total acres of winter wheat for 2010 is 37.1 million acres, down 14 percent nationwide from last year.

The agency blames poor weather, low prices and the late row crop harvest for the decrease

7 posted on 01/15/2010 9:29:12 AM PST by opentalk
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To: FromLori

I am just saying it’s not the banks, its the government; the consequences are the same though.


8 posted on 01/15/2010 9:30:29 AM PST by GeronL (http://libertyfic.proboards,com)
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To: opentalk
This is a good sign. Wheat is planted in the United States largely in spite of market forces, not in response to them.

Farmers' shifting production from very heavily subsidized wheat planting to crops demanded by the marketplace should be a cause for celebration, not whining.

9 posted on 01/15/2010 9:34:23 AM PST by Mr. Lucky
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To: GeronL

I can attest that this is true. Hubby does marketing for Monsanto — the farmers can’t buy if there are no loans. We don’t eat, if they can’t buy and plant. Even if they plant and can’t buy fertilizer and pest control (which is an astronomical cost), the yields will be far less and there will be less to go around.


10 posted on 01/15/2010 9:35:06 AM PST by Constitutions Grandchild
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To: Mr. Lucky
not whining.

not whining, just sharing info.

11 posted on 01/15/2010 9:36:55 AM PST by opentalk
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To: GeronL

Also the government no longer has stores of surplus grains. All such were emptied a couple years ago and are not being built back up. Though you will find a good number of Freepers that agree with that decision I for one say that it was a bad one. Just like the Strategic Reserves that the government keeps for a number of (in case of war commodities such as the Strategic Petroleum Reserve)food is just as important if not more so.


12 posted on 01/15/2010 9:37:43 AM PST by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: MtnClimber
I am the last guy you would think would have his own garden and would can food. I live in Joisey for God's sake. However, I am very fortunate to live in a rural part of the state and have over an acre of very fertile land on a ridgeline that gets a ton of precipitation and slow snow melt.

I will plant my first garden next year to start to learn how to do it-figure there is a learning curve. I guess I will need to stock up on fertilizer and some sort of chemicals to preserve the crop. It would be the ultimate in irony for me to plant a garden, have a crisis happen, and then have the harvest wiped out by a disease or insects.

13 posted on 01/15/2010 9:39:25 AM PST by MattinNJ (O is going to get his candy ass kicked by a girl. Go Sarah.)
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To: GeronL

“The banks are not hoarding cash they are loaning it all to government. Buying bonds. Then borrowing more from the federal reserve at .25% and buying bonds at 3%.”

You got that right. Exactly what the Feds want to happen—and then Obama bitches about them making profits.


14 posted on 01/15/2010 9:40:08 AM PST by WKUHilltopper (Fix bayonets!)
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To: Constitutions Grandchild

All of that is true, but its not the banks. The banks know they will be punished further if they don’t cought it up and buy more bonds. They know this government will do what it can to put them “fat cat bankers” out of business, they minimize risk, in their view, by buying government debt.

The government knows that they need to sell more bonds in order to spend more debt. The fed loans it to the banks at .25% and they buy bonds at 3%, giving the government mo’ money. Government is wasting it and stealing it.

The result is the same, of course. No loans.


15 posted on 01/15/2010 9:40:25 AM PST by GeronL (http://libertyfic.proboards,com)
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To: FromLori

Everything is being crashed, on purpose.


16 posted on 01/15/2010 9:41:21 AM PST by NeoCaveman (usually clean, often articulate, only a slight Cro-Magnon accent except when I want to have one)
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To: FromLori

ping


17 posted on 01/15/2010 9:43:40 AM PST by unkus
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To: opentalk

My frustration was not with you, but rather New York financial pundits who pretend to be experts on farming.


18 posted on 01/15/2010 9:44:23 AM PST by Mr. Lucky
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To: GeronL

The banks are not hoarding cash they are loaning it all to government. Buying bonds. Then borrowing more from the federal reserve at .25% and buying bonds at 3%.

There is a wild man in charge and this is the safest bet they could find.


Truth in a nutshell. We have nothing but amateur Marxists and Fascists running this government. Even they don’t have a clue which totalitarian direction to go.


19 posted on 01/15/2010 9:45:02 AM PST by Steamburg ( Your wallet speaks the only language most politicians understand.)
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To: opentalk

Ding!


20 posted on 01/15/2010 9:45:36 AM PST by griswold3 (You think health care is expensive now? Just wait till it's FREE!)
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