Skip to comments.G-20 announces measures to stabilize food prices
Posted on 06/23/2011 12:00:21 PM PDT by EBH
World Bank President Robert Zoellick appeared at the ministers' side during the news conference to express his support for the new measures and the seriousness of price swings.
"We are not going to be able to stop food prices from going up and down, but we can smooth out the swings and we can protect the poor whether they are small farmers or consumers," he said.
One of the key aspects of the new accord is the Agricultural Market Information System that would stave off panic food speculation by making instantly available to all countries the state of world food stocks, production and consumption, Zoellick explained.
"What we saw when prices started to surge in 2008 was that the lack of information on stocks and availability can lead to panic in markets and panic is what leads to price hikes," said Zoellick. "Uncertainty leads to volatility."
The new "action plan on food price volatility and agriculture" also called for the institution of emergency food reserves to offset humanitarian crises.
Banks and international agencies were also urged to draw up risk management plans for developing countries financial tools to offset price fluctuations.
(Excerpt) Read more at news.yahoo.com ...
are we ready to see real hunger in the United States?
First the Prez announces the release of oil from the Strategic Reserve, and then, the same day, this —
Or are the *real* numbers (the ones that are kept away from us Great Unwashed because they *aren’t* ‘unexpected’)getting bad enough to cause some small bit of panic among our Betters???
In other words, stock up on supplies now because the shit is going to hit the fan.....
Le Maire emphasized that the plan sets down concrete and ambitious proposals that will be put in place immediately.
“The plan takes place as of today,” he said.
Does this mean what I think it means? Basically:
If it is available, I can buy a loaf of bread that costs $5.00 and now only weighs 4 oz., so 12 oz can be set aside and sent to poor countries?
This is exactly why I’ve been stocking up on long-storage staples.
I hear all those in favor of Central Planning started out ‘looking out for the little people’ too.
Damn your supply-and-demand tried and true old method.
We know better, we can ‘smooth your pain’ better.
It is global price fixing and redistribution...
This is happening today, the plan is now in place. A month from now you’ll be glad you planted that sweat of the brow garden.
As usual, bureaucrats and social engineers playing God will be a recipe for disaster.
And too think soon Hillary will be in this position.
Whoah whoah whoah...
What happened to the “we cannot have our small vegetable gardens” anymore? So is Obama now encouraging us to plant gardens so we will have extra food for the north Korean troops? Err.... I mean starving peasants?
Which they will replace with the certainty of starvation. Good plan.
” Our garden is not doing much either this year. “
What little manages to grow is falling prey to the critters, which are bolder and more aggressive, with more of them coming farther into town than anytime in living memory, for daylight raids.... Repellants don’t deter ‘em, and fences barely slow ‘em down - and the state won’t let us kill ‘em....
My raspberries are doing horrible!
“French Agriculture Minister Bruno Le Maire said the G-20 summit of agriculture ministers had agreed to calm the world market by establishing a transparent system to track global supplies”
That’s the heart of this thing, so they can build on it.
Stabilize them at x10 their current price.