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Riots to Spread

http://www.businessinsider.com/gerald-celente-spain-2011-5

 

Snip-

 

 

"Celente says riots from Iran to Spain are the beginning of another world war, precipitated by food prices, unemployment and inequality. Last year he claimed that 2011 would bring "Off With Their Heads 2.0" and the prediction is going well so far."

 

FWIW, I'll 100% guarantee it if two entirely possible events occur- one, if the Fed comes back with QE 3 and if the North American crop comes in substantially below trend.  Neither are certain but both are distinct possiblilities.

 

I ponder daily whether the US is clueles as to th impact of its monetary and ethanol policies or whther somebody has a plan.

9 Replies
Advisor

Re: Riots to Spread

  I have a different view Celente hit the bulls eye with one shot,- "Young people have wised up-"  They know that voting for either of the major parties- means more of the same".  However I believe he misses the big picture, the cause is 21st century communication, web, twitter, facebook, etc.   There isn't, at present, a shortage of food it's still distribution and inflation caused by the international bankster's rip-off, the industrialization of food production and the shift of jobs to third world nations to exploit cheap labor.  

 

  His "prediction" is behind events, for instance, Obama was elected by people who wished for change, the same thing is happening all over the world where the Empire cannot block the free flow of ideas and knowledge.

 

  Riots?  No rebellion.

 

  

  

 

 



Senior Contributor

Re: Some are starting to go public with their Fed differences

Not often you see the president of a Federal Reserve Bank going public and expressing strong disagreement with the Fed's main policy.   Sunday morning on CNN's show, GPS hosted by Fareed Zarkaria they had on Thomas Hoenig who is the president of the Federal Reserve Bank of Kansas City.   Hoenig believes that the Fed is making a big mistake keeping interest rates so low and says similar policies led to our housing bubble and subsequent collapse.  Hoenig says in strong successful economies the people are saving 8% to 10% of their incomes and that our policy of low interest discourages savings and encourages larger spending and debt.  I believe Hoenig claimed that savings have now dropped to around 2% in the U.S.

Senior Advisor

Re: Some are starting to go public with their Fed differences

They definitely have redirected a lot of savings into the "market" instead of bank deposits. Savers cannot get enough interest to keep up with inflation and the proceeds are taxable as well.

 

One thing about it though is that it will enable land purchases with money that is only drawing 2% or less in the bank. And think of the low interest rates for operating capital for active farmers.

Senior Contributor

Re: Some are starting to go public with their Fed differences

I wonder Don if the low interest rates won't help convince some farmers that $8000 land is good deal and sets up another ag land crash similar to what we saw in the 80's.  I'm thinking ethanol subsidies and farm program payments to farmers will soon be getting smaller and I doubt $7 and $13 beans are here to stay.   

Advisor

Re: Some are starting to go public with their Fed differences

Hoeing has been expressing a divergent  opinion on Fed policy for a good long time. Good to see Fareeh brought him on. Good to see him hit the mainstream. Only place I'd ever seen him before was on Ratigan.

 

I believe his background is at the U of Mo K.C. business school that also houses the exceptional econ journalist William Black:

 

http://en.wikipedia.org/wiki/William_K._Black

 

F.Z. bringing him on is a good sign of hope.

Advisor

Re: Riots to Spread

Just a couple things to add, the planting season in Ohio JUST started, corn production here will be way below trend. Rumors are qe3 won't be announced but will come in backdoor asset purchases. Takes some of the heat off the fed for commodity inflation while still providing flow to the tbtf.
Advisor

Re: Some are starting to go public with their Fed differences

My inside at farm credit told me they set a cap on what they'll loan per acre. So apparently they think land has already gotten out of hand.
Senior Contributor

Re: Some are starting to go public with their Fed differences

I believe Hoenig's term is up and he wasn't reappointed.

 

 

Veteran Advisor

Re: Some are starting to go public with their Fed differences

I read about Paul Hoening six months ago, and how he was usually the lone dissenter when it came to Fed policy. Common sense midwesterner, seemingly totally out of place with the bankers he was saddled up with.

 

Someone that acutally probably gives a rats puttuttee about the future of America, too. We could use more men like Hoening...a lot more.