– As cold snap looms, Sandy sets NY up for a new fuel crisis (Reuters, Nov 3, 2012):
Northeast residents lucky enough to have a roof after Hurricane Sandy struck now face a new problem: a heating oil shortage and widespread power outages mean some homes may go cold as the weather turns wintry.
A cold snap in the New York City area – with daily low temperatures set to drop into the upper 30s Fahrenheit (2-4 degrees Celsius) early next week – is raising concerns that residents of the storm-stricken areas of New York, New Jersey or Connecticut could be left without heat as they recover from one of the worst storms in U.S. history.
– New Yorkers in fuel scramble as storm-hit pumps dry up (Reuters, Oct 31, 2012):
NEW YORK – Drivers and homeowners scrambled to secure fuel for their cars and generators in the U.S. Northeast on Wednesday as storm-hit gasoline stations started to run dry.
More than half of all gasoline service stations in the New York City area and New Jersey were shut because of depleted fuel supplies and power outages, frustrating attempts to restore normal life, industry officials said.
Reports of long lines, dark stations and empty tanks circulated across the region. Some station owners were unable to pump fuel due to a lack of power, while others quickly ran their tanks dry because of increased demand and logistical problems in delivering fresh supplies.
The lack of working gasoline stations is likely to compound travel problems in the region, with the New York City subway system down until at least Thursday and overland rail and bus services severely disrupted.
Homeowners and businesses relying on back-up generators during the power cuts, including many Wall Street banks in lower Manhattan, may also run short of fuel.
Concerns that the sovereign debt crisis may be entering a new phase and the risk of contagion has seen peripheral eurozone bonds fall sharply and the euro fall against major currencies and gold today.
Sovereign debt risk, global inflation concerns, geopolitical risk, disappointing European earnings and concerns about Japan’s coming reporting season have seen equities weaken and new record nominal highs for gold and silver (all time and 31 year).
Greek bond yields have continued their relentless march higher and have risen above 14.07% (10 year) and Portuguese debt (10 year) has risen to a euro era record over 9.27%.Spanish and Irish debt are also under pressure this morning.
Euro gold has been in a range between €900 and €1,070 for nearly a year (since last May – see chart) and this period of consolidation looks set to come to an end as gold pushes higher. Once the technical resistance at the record high of €1,072/oz (12/28/10) is breached, gold will challenge €1,100/oz .
In the current bull market, euro gold has seen many long periods of correction and consolidation prior to rapid gains and sharp moves upwards. The length of the recent correction (almost a year) suggests that the coming move could be very sharp and see gold rise to €1,200/oz in the coming weeks.
Gold is increasingly being seen as the superior currency in a world of trillion dollar and euro deficits and bailouts. Indeed, the printing and electronic creation of billion and trillions of the major paper currencies is increasingly making gold and silver the currencies of last resort.
Governments and central banks are debasing currencies through bailouts, deficit spending and quantitative easing which is leading to a massive increase in the supply of fiat currencies. Precious metals are rare and finite and this is why major currencies are falling in value versus gold and silver.
The scramble for non-dilutable currencies hits a frenzy as silver just touches on a fresh 31 year high of $34.90.
To commemorate this historic event, the US Mint has halted American Eagle silver coing production, in addition to its ongoing halt of American Buffalo coins:
“because of the continued demand for American Eagle Silver Bullion Coins, 2010-dated American Eagle Silver Uncirculated Coins will not be produced. The United States Mint will resume production of American Eagle Silver Uncirculated Coins once sufficient inventories of silver bullion blanks can be acquired to meet market demand for all three American Eagle Silver Coin products.”
Submitted by Tyler Durden on 03/02/2011 09:45 -0500
And of course Blythe Masters was right that nobody can manipulate the silver market, right?:
Sure Blythe! Nobody believes that BS anymore. Game over.
It’s just a fact now that there is nothing left!
Silver is still incredibly cheap.
I would buy every silver Maple Leaf, American Eagle or Wiener Philharmoniker I could get my hands on.
Only physical gold and silver are real, everything else is an illusion.
More on gold and silver:
With continued reports of booming sales and tightness in the silver market, today King World News interviewed Dave Madge director of sales at the Royal Canadian Mint. When asked if the RCM is having trouble acquiring silver Madge responded, “Demand right now for silver is through the roof and it shows no signs of slowing at this point. Sourcing silver is becoming very difficult. We are competing with a great many players when it comes to purchasing silver and many of these players are bidding the price higher.”
Dave Madge of the Royal Canadian Mint continues:
“Our advantage is that we have had long-term relationships with our suppliers and that has helped us in this situation. We have been able to leverage off of those relationships to get supply, but it still remains a big challenge sourcing material. We’re looking at ways of mitigating our risk regarding supply of silver.
We are anticipating it to become even more difficult to secure supplies in the future. This is based on what we are seeing firsthand and what our suppliers are telling us. We work closely with these banks to secure silver and they tell us there is a lot of competition.”
Full article here: King World News
On September 21, 2010 I published an article entitled “More Forensic Evidence of Gold & Silver Price Manipulation”. In that article I showed how silver from 2003 to 2010 had never traded freely at all; I showed that silver was algorithmically traded with gold and there was a very clear relationship between the price of gold and the price of silver. For those who haven’t read the previous article the following figure 1 (figure 4 in the previous article) demonstrates the inter-relationship.
Figure 1 Cross-plot of Silver versus Gold 2003-2010
Figure 1 is a cross-plot of the price of gold against the price of silver for every trading day from June 2003 to September 2010. There are two linear relationships, one is pre-2008 (black line) and the second is post 2008 (green line). The best fit equations for the two data sets are also given on the chart.
The stunning revelation from the data analysis was that if on any day I knew what the price of gold was I would be able to calculate the silver price from the equation of the relationship! How is that possible in a free market? It simply is not possible and so the conclusion is that silver is not in a free market but is manipulated to move algorithmically with the price of gold. I have written many articles that show that gold is itself manipulated and suppressed (for example, see Gold Market is not “Fixed”, it’s Rigged)
I have updated the chart of Figure 1 which is shown in Figure 2.
Figure 2 Cross-plot of Silver versus Gold 2003-2011
Since September 2010 silver has broken its golden shackles. The algorithmic trading that kept the price of silver subdued for seven years has been completely annihilated.
On Friday silver closed in complete backwardation on the Comex. Spot silver closed at $29.075/oz while FEB 2011 closed at $29.064/oz and DEC 2015 closed at $29.026/oz. I believe this is the first time in history that this has happened. Silver traded in backwardation between the spot price and futures contract up to one year out during the blatantly manipulative precious metals bashing of January, but now the entire futures structure is in backwardation. This is a sure sign there are shortages of silver because it means that buyers will pay a premium for silver delivered sooner rather than later.
Signs of shortages have also been apparent from a shrinking silver inventory on the Comex in the face of rising prices. The registered inventory stands at a paltry 43 Mozs. In addition there is lots of anecdotal evidence that there are tight supplies everywhere. There are reports of refineries refusing to take new orders due to insufficient silver feedstock.
New Mexican Governor Susana Martinez makes announcements regarding gas shortages from the Emergency Operating Center on the National Guard Base just south of Santa Fe, N.M., on Thursday, Feb. 3, 2011. Secretary of Homeland Security and Emergency Management Michael Duvall, left, and Major General Kenny C. Montoya, right, look on. Martinez has declared a state of emergency as thousands of New Mexico residents lost natural gas service due to the bitter cold. Martinez sent all nonessential state workers home for the day Thursday, and urged all residents to turn down their thermostats, bundle up and shut off appliances they don’t need for the next 24 hours. (AP Photo/The New Mexican, Natalie Guillén)
ALBUQUERQUE, N.M.—With tens of thousands of people across New Mexico without natural gas service, Gov. Susana Martinez on Thursday declared a state of emergency, ordered all government offices be shut down Friday and urged schools to “strongly consider” remaining closed for the day.
Demand has soared because of extremely cold weather across the state since Tuesday. New Mexico Gas Company said rolling blackouts in West Texas also impeded the delivery of natural gas into New Mexico.
Martinez declared a state of emergency for all of New Mexico, urging residents to turn down their thermostats, bundle up and shut off appliances they don’t need for the next 24 hours.
She later announced all state operations not providing critical services would be closed Friday to decrease the strain on energy resources throughout the state.
“Due to statewide natural gas shortages, I have ordered all government agencies that do not provide essential services to shut down and all nonessential employees to stay home” on Friday, Martinez said after meeting with public safety personnel in Albuquerque.
“I have also encouraged all schools that have not already announced closures to strongly consider doing so,” she said.
And ATM’s are running out of cash:
– Cash machines are running out of money due to snow (Telegraph):
Cash machines are running out of money ahead of what is traditionally one of the busiest shopping weekends of the year.
The heaviest snowfall for 20 years means security vans carrying cash are being prevented from making deliveries to their regular destinations.
High street bank HSBC confirmed yesterday that snow was causing problems for some of its drivers.
It reported that 7 per cent of its cash machines were closed yesterday and that if levels dropped any further, it would be reach “unacceptable levels”.
* Two pensioners die after collapsing in their gardens
* Milder temperatures expected tomorrow but falling again on Sunday
* Short-haul flights from Gatwick cancelled until 5pm
* Petrol forecourts run dry as deliveries are held up
* Rail networks cancel services for the third day running
Petrol forecourts were today running dry and food stores were struggling to replenish their shelves as icy conditions halted deliveries.
‘Critical’ shortages of petrol have been reported by the RMI Petrol Retailers Association, with remote areas being particularly badly affected.
Some fuel stations have also been accused of ‘cashing in’ on the crisis by increasing their prices – with one garage in Surrey putting up the cost of diesel per litre from £1.24 to £1.28 within the past four days.
The news came as snowfalls eased but temperatures plummeted even further, dropping -20.1C in Scotland and -7C in London and Birmingham overnight.
DES MOINES, Iowa — Dreaming of biting into a garden-fresh cucumber sandwich this summer? Better order your seeds now.
A poor growing season last year and increased orders from Europe could make it difficult for home gardeners to get seeds for the most popular cucumber variety and some vegetables this spring. Farmers, who usually grow different varieties than home gardeners, aren’t likely to be affected.
Seeds for what’s known as open-pollinated cucumbers seem to be most scarce, but carrots, snap peas and onions also could be in short supply.
“I suspect there will be some seeds you just won’t be able to buy if you wait too long on it,” said Bill Hart, the wholesale manager in charge of seed purchasing at Chas. C. Hart Seed Company in Wethersfield, Conn. “The sugar snap peas we’re not able to get at all, and other companies that have it will sell out pretty quickly.”
The problem is primarily due to soggy weather last year that resulted in a disappointing seed crop. European seed growers also had a bad year, leading to a big increase in orders for American seeds.
Demand for seeds in the U.S. soared last year, as the poor economy and worries about chemical use and bacteria contamination prompted many people to establish gardens. Homegrown food seemed safer and more affordable. But some wonder if the wet weather that ruined gardens in many areas last summer will discourage first-time gardeners from planting again. Continue reading »
1 of 6:
Tags: Ammunition, Barack Obama, Bonds, Bubble, Debt, Depression, Dollar, Economy, Fed, Federal Reserve, Food, Food shortages, Fraud, Gold, Government, Great Depression, Hyperinflation, Inflation, Keynesianism, Meltdown, Monetary Base, Obama administration, Peter Schiff, Politics, Ponzi schemes, Recession, Shortages, Silver, Stock Market, U.S., Weapons
December 22, 2008 Source: YouTube
December 22, 2008 Source: YouTube
Tags: Bailout, Barack Obama, Bubble, Commodities, Congress, Credit Crisis, Debt, Deflation, Depression, Dollar, Economy, Fed, Federal Reserve, Food, Gold, Goldman Sachs, Government, Henry Paulson, Inflation, Oil, Oil Prices, Politics, Shortages, Treasury, U.S.
“Tens of millions of people unemployed, inflation spiraling out of control, the government instituting price controls that result in shortages and blackouts and long lines for things. I think things are going to get very bad.”
“From an investment point of view, investors need to stay clear, because they need to realize that it’s not just U.S. stocks and real estate that are going to lose value, but U.S. bonds. This is the last bubble yet to burst. I think we’re going to see a collapse of the bond market sometime during Obama’s first term, and interest rates are going to spiral out of control, and the dollar is going to just be destroyed.”
People aren’t laughing any more at the way-out-there predictions of Peter Schiff, whose long-standing pessimism about the economy and stock market has been largely borne out.
Schiff heads Euro Pacific Capital, a brokerage in Darien, Conn. with more than $1 billion in assets under management. He has silenced critics because he predicted the collapse of the housing market, the subprime crisis and the soaring of oil prices in his market commentaries before they came to pass.
A YouTube video called “Peter Schiff Was Right” shows him being repeatedly mocked when he went on TV stock shows to make those ultimately correct calls in 2006 and 2007, including forecasting a recession 2 1/2 years ago.
Now, in the midst of what’s already the biggest financial crisis in decades, the prominent purveyor of gloom and doom still sees far tougher times ahead – including a depression and a bear market he thinks will last another five years or more.
Tags: Bailout, Bonds, Bubble, Commodities, Depression, Dollar, Economy, Fannie Mae, Freddie Mac, General Motors, GM, Gold, Government, Inflation, Lehman Brothers, Oil, Oil Prices, OPEC, Peter Schiff, Politics, Recession, Shortages, Stock Market, U.S., Unemployment
Dec. 5 (Bloomberg) — The fundamentals of commodities are “unimpaired” and prices will rebound when a lack of new supply leads to shortages, said Jim Rogers, chairman of Rogers Holdings.
“Commodities will be the place to be if and when we come out of” the downturn, Rogers said yesterday in an interview from Miami. “The only thing where fundamentals are unimpaired are commodities. Farmers cannot get loans for fertilizer now. Nobody can get a loan to open a zinc mine. So we are going to have some serious, serious supply problems before too much longer.”
The Reuters/Jefferies CRB Index of 19 commodities has plunged 53 percent from a record in July on concern that a global recession will sap demand for raw materials. The index almost doubled between its low in 2001 and the end of last year.
Rogers said crude oil and agricultural commodities were the most likely to have shortages and the outlook for zinc and cotton had “improved.” “I haven’t sold any commodities since the bull market began,” he said.
“I own some gold and if gold goes down I’ll buy some more and if gold goes up I’ll buy some more,” Rogers said. “Gold during the course of the bull market, which has several more years to go, will go much higher.”
FEARS of the unknown long-term effects from the global financial crisis have sparked a new gold rush.
With retail and wholesale clients around the world stocking up on the precious metal, the Perth Mint has been forced to suspend orders.
As the World Gold Council reported that the dollar demand for gold reached a quarterly record of $US32 billion ($50.73 billion) in the third quarter, industry insiders said the race to secure physical gold had reached an intensity that had never been witnessed before.
Perth Mint sales and marketing director Ron Currie said the unprecedented demand had forced the Mint to cease orders until January, with staff working seven days a week, 24-hour days, over three shifts to meet orders.
He said Europe was leading the demand, with Russia, Ukraine, Middle East and US all buying — making up 80 per cent of its sales. One European client purchased 30,000 ounces for $33 million.
“We have never seen this before and are working right at capacity. And we are seeing it from clients in the shop buying one ounce, right up to 30,000 ounces from overseas clients,” Mr Currie said.
|Many Gazans are dependent on food aid|
“People in Gaza are waiting in lines for almost everything, and that’s if they’re lucky enough to find something to wait for,” says Bassam Nasser, 39.
An aid worker in Gaza City, he, like so many others there, including the UN relief agency, says living conditions are the worst he has ever seen in the strip.
“People queue for two or three hours for bread, but sometimes there’s no cooking gas or flour, so no bread.
“People wait in line for UN food handouts, but sometimes there aren’t any. The suffering is reaching every aspect of life.”
As well as working for an American development agency, Mr Nasser is a Gazan, and a father.
“I’ve got three young children. It’s difficult to explain to them that it’s not my fault we don’t have electricity and that it’s not in my control.”
Russian shoppers have been served an uncomfortable reminder of the Soviet era after finding shelves in some Moscow supermarkets empty, a further sign that the woes of the financial markets have begun to affect the mainstream economy.
For a generation of Russians who queued daily in the snow for the most basic of staples, the symbolism of a bare supermarket shelf is so powerful that it could potentially destroy the reputation of Vladimir Putin, the prime minister, as saviour of the world’s largest country.
The shortages are not yet widespread. Even so, goods have begun to vanish from dozens of Moscow supermarkets over the past fortnight.
At a branch of the supermarket chain Samokhval in southwestern Moscow, a handful of shoppers pushed their trolleys through empty rows of shelves that once groaned under the weight of imported wares.
The deep freezes hummed, although there was nothing to freeze. Only a row of baked beans, a few jars of olives and sealed cupboards filled with vodka and cheap wine interrupted the void. Continue reading »
Investors in gold are demanding “unprecedented” amounts of bullion bars and coins and moving them into their own vaults as fears about the health of the global financial system deepen.
Industry executives and bankers at the London Bullion Market Association annual meeting said the extent of the move into physical gold was unseen and driven by the very rich.
“There is an enormous pick-up in investment demand. I have never seen a market like this in my 33-year career,” said Jeremy Charles, chairman of the LBMA. “The gold refineries cannot produce enough bars.”
If Drivers Can Fill Up, They Get Sticker Shock
People wait to fill their tanks at a Citgo station in Charlotte, where drivers have reported gas lines 60 cars long after 11 p.m. (By Davie Hinshaw — The Charlotte Observer)
Gasoline shortages hit towns across the southeastern United States this week, sparking panic buying, long lines and high prices at stations from the small towns of northeast Alabama to Charlotte in the wake of Hurricanes Gustav and Ike.
In Atlanta, half of the gasoline stations were closed, according to AAA, which said the supply disruptions had taken place along two major petroleum product pipelines that have operated well below capacity since the hurricanes knocked offshore oil production and several refineries out of service along the Gulf of Mexico.
Drivers in Charlotte reported lines with as many as 60 cars waiting to fill up late Wednesday night, and a community college in Asheville, N.C., where most of the 25,000 students commute, canceled classes and closed down Wednesday afternoon for the rest of the week. Shortages also hit Nashville, Knoxville and Spartanburg, S.C., AAA said.
Californians could face mandatory water rationing unless they drastically reduce consumption because of a state-wide water crisis, governor Arnold Schwarzenegger has said.
The warning came as he declared the first official drought in California in 17 years, citing two years of arid conditions that threaten the state’s massive agriculture industry and increase the risk of wildfires such as those that destroyed 1,500 homes last October.
Kern River in California is dry and is expected to remain so
The governor called for a state-wide reduction of 20 per cent and issued an executive order commanding water officials to direct supplies to the driest areas, help districts conserve and aid stricken farmers who have already suffered huge losses.
Mr Schwarzenegger said mandatory restrictions could follow if residents and water authorities failed to make cutbacks and another dry winter ensued.
“We must recognise the severity of the crisis that we face,” the Republican governor said.
California has never resorted to statewide water rationing to cope with shortages. Since the last drought, however, its population has shot up as water supplies have decreased.
The governor himself does not have the authority to impose statewide rationing but the Department of Water Resources could slash water supplies to local authorities, who in turn would have to enforce limits.
Some regions already impose rationing with the threat of punitive measures for violators and many areas have appealed for conservation. Restrictions on outdoor water use, such as bans on washing cars or driveways, are in force in some cities along with orders stopping restaurants from automatically serving drinking water.
This week, Los Angeles approved a fleet of “drought busters” to patrol residential areas and enforce a ban on some types of outdoor water use. More districts are expected to impose limits of some kind as the long, hot days of summer loom.
This spring, the driest on record, follows two years of below average rainfall. The situation has been exacerbated by reduced mountain snow packs, which normally provide much of the state’s supply, and a court order limiting the amount of water that can be taken from a key river delta to protect a threatened fish.
“We’re suffering the perfect storm, if you will,” said Timothy Quinn, executive director of the Association of California Water Agencies.
The prospect of cuts alarmed some sectors of the business community who feared it could harm productivity and increase the chance of full-blown recession. Continue reading »
Photograph by : Allen McInnis, Canwest News Service
Experts expect climate change to present serious water challenges, many of which already exist
In Quebec, St. Lawrence water levels were so low this fall in places like Haut Gorge park that water had to be pumped in from Lake Ontario.
In Quebec, St. Lawrence water levels were so low this fall in places like Haut Gorge park that water had to be pumped in from Lake Ontario.
Canada is crisscrossed by innumerable rivers, some of which flow into three oceans.
Yet Canada’s fresh water isn’t as abundant as you may think. And it’s facing serious challenges and the looming menace of climate change, which is expected to exacerbate Canada’s water problems and leave more of the world thirsting after our precious liquid resource.
“They say you need a crisis before people get jerked into taking responsible action,” says Chandra Madramootoo, a water researcher and founding director of McGill University’s Brace Centre for Water Resources Management.
“When are we going to finally say, ‘Jeez, we’re not as water rich as we thought we were and maybe we better start doing something?’ Is it going to be the day when we [must] ration water?”
Some think the crisis is already here. They say it’s time to take action — by, for example, conserving water, cracking down on polluters, preparing for the effects of climate change and coming to the aid of waterless poor in the developing world.
(Important article! Please continue to read. – The Infinite Unknown) Continue reading »
A child carries a tray of bread in Cairo. Photograph: Nasser Nuri/Reuters
World leaders are to meet next week for urgent talks aimed at preventing tens of millions of the world’s poor dying of hunger as a result of soaring food prices.
The summit in Rome is expected to pledge immediate aid to poor countries threatened by malnutrition as well as charting longer-term strategies for improving food production.
Hosted by the UN’s Food and Agriculture Organisation, it will hear calls for the establishment of a global food fund, as well as for new international guidelines on the cultivation of biofuels, which some have blamed for diverting land, crops and other resources away from food production.
The urgency of the meeting follows historic spikes in the price of some staple foods. The price of rice has doubled since January this year, while the cost of dairy products, soya beans, wheat and sugar have also seen large increases.
The world’s urban poor have been hit hardest, sending a wave of unrest and instability around the world. Thirty-seven countries have been hit by food riots so far this year, including Cameroon, Niger, Egypt and Haiti.
The Rome summit is the first of a series of high-level meetings aimed at tackling what many leaders now see as a much bigger threat to international stability than terrorism.
A fortnight after the UN meeting, the EU council will focus much of its time on the food crisis. A ministerial meeting of the World Trade Organisation in late June will make a last-ditch attempt in Geneva at agreeing the lowering of international trade barriers, with the aim of cutting food prices and making it easier for farmers in poor countries to export their produce.
Food and climate change will also be the twin top themes of the G8 summit in Japan in early July, and then in September a UN summit will attempt to put the world back on course towards meeting the millennium development goals, agreed eight years ago, one of which was the halving of the number of the world’s hungry. Continue reading »
Supermarket chains have begun rationing rice as the effects of rising prices and disruptions to supply spill over from specialist grocers and suppliers to larger stores.
Netto, the Danish-owned discount store, has been restricting sales of larger bags of rice to one per person in all stores in recent weeks across the UK.
Mike Hinchcliffe, marketing manager for Netto UK, said: “We’re temporarily limiting our larger 10 kg bags of rice to one per customer because, like most other UK supermarkets, we are having to manage and minimise the impact the global rice shortage is having on our suppliers.
“We are experiencing a high demand for rice and have introduced this measure across our 184 UK stores to ensure that all of our customers have a fair opportunity to make their regular rice purchases. Our smaller 1kg packs remain on free sale with no restrictions planned at this time.” It expects the restriction to continue “indefinitely”.
By Lucy Killgren
Published: May 30 2008 23:45 | Last updated: May 30 2008 23:45
Source: Financial Times
Fishermen across western and southern Europe are threatening an open-ended strike from Wednesday in protest at rising fuel costs. Several ports in France have remained blocked for more than a week despite a government aid deal, and fishermen in the Spanish region of Catalonia began strike action yesterday.
Their colleagues across Spain, Portugal and Italy plan to join them tomorrow. The industry has seen marine diesel prices almost double in six months. French President Nicolas Sarkozy has said he’ll look for a cap in fuel sales tax across the EU. He told a French radio station this morning: “I will ask our European partners: if the price of oil continues to rise, shouldn’t we suspend the VAT tax part of oil prices?” For that to happen, all 27 EU members would need to agree.
However the European Commission has responded negatively to Sarkozy’s proposal, saying modifying tax levels on oil products to fight inflation would be sending a bad message to oil producing countries.
The French haulage industry has joined the fishermens’ protest, leading to some fuel depot blockades and fears of petrol shortages. Continue reading »
The government rationed food during World War II and gasoline in the 1970s. Now, it’s imposing quotas on another precious commodity: 2008 dollar coins known as silver eagles.
The coins, each containing about an ounce of silver, have become so popular among investors seeking alternatives to stocks and real estate that the U.S. Mint can’t make them fast enough. In March, the mint stopped taking orders for the bullion coins. Late last month, it began limiting how many coins its 13 authorized buyers world-wide are allowed to purchase.
“This came out of nowhere,” says Mark Oliari, owner of Coins ‘N Things Inc. in Bridgewater, Mass., one of the biggest buyers of silver eagles. With customers demanding twice as many as they did last year, Mr. Oliari would like to buy 500,000 a week. But the mint will sell him only around 100,000. Continue reading »
“The alarm bells are ringing, folks. We have reached the limit of the planet’s ability to absorb our pollution and environmental devastation. I sadly predict the human species if not mature enough to make the necessary forward-thinking changes, and that it will only learn from disaster. That disaster is coming. Prepare to live in a world where food becomes desperately scarce. Prepare to see the human population collapse in almost precisely the same way the honeybee populations are collapsing.”
“As go the insects, so go humans.”
(There is a ongoing discussion weather Einstein said the following or not:
“If the bee disappeared off the surface of the globe, then man would only have four years of life left. No more bees, no more pollination, no more plants, no more animals, no more man.”
If Einstein never said that, would it be less true then? – The Infinite Unknown)
(NaturalNews) The ongoing phenomenon of mysterious honeybee deaths is starting to raise alarm in the food industry, which depends heavily on bees to pollinate many critical crops. “Honeybee health and sustainable pollination is a major issue facing American agriculture that is threatening our food supply and endangering our natural environment,” said Diana Cox-Foster of Penn State.
I tend to think that honeybees are simply “on strike.” They’re tired of being slave workers for the very humans who continue to destroy their habitat, pollute their air and water, and steal the labors of their hard work (honey, bee pollen and free pollination services).
Honeybees pollinate 130 different crops, which supply $15 billion worth of food and ingredients each year. One out of every three bites of food on your dinner plate was made possible by honeybee pollination. Continue reading »
“Police agencies and military units are training around the clock every day of every week across the land in preparation for riots, confiscations and detentions on a scale never before contemplated. Communications will be controlled, then severed, as the government and the military begin a “black-out” that will erase the final “freedom” that Americans have enjoyed through the use of cell phones and the internet. This will be so they can implement their battle plans without your knowing of it or being able to sound the alarm.”
Hyperbole is not something I engage in for shock value alone and it is definitely not something I enjoy contemplating while discussing our national state of affairs. However, it is becoming more and more commonplace in discussions that deal with the United States and its immediate future.
If, as casual readers of current events, you have become aware of the escalating sense of urgency, with the impending multiple world crises, then you are most likely comprehending the current history making events as they unfold. Wars and rumors of war, pestilence, mysterious shakings in the heavens, earthquakes, AND now the ravages of world-wide famine are occurring around us at this very moment. Does this announce the Biblical introduction of the “end times?” I cannot answer that. I am not qualified to assess those prophesized events from a theological perspective. I can tell you from a military frame of mind, a common sense evaluation and a law enforcement point of view, that these days are like riding on a wild cat’s ass, and you ain’t seen nothing yet.
I have been sounding the call for your total commitment and preparation as one crises leads to another. I have laid out before you the need to store food, water, natural medicines, weapons, rugged winter clothing, extra tools and hardware. I have suggested geographical locations and travel routes to many of you who just couldn’t quite figure it out. Further, I have warned you of shortages of fuels, bulk foods and ammunition. The message has been loud and clear. I know also that it has been easier to shove all this aside and get on with other, simpler things. Simple times are over. Continue reading »
A Guide to Preparing for Rising Food Costs or That Next Big Emergency
The inside of H-bomb steel shelter from 1955. (AP Photo)
Worried about the dramatically rising cost of food? Afraid of a shortage?
Well, then maybe it’s time to clean out that old Cold War-era bunker and stockpile your favorite treats. Just move those gas masks to the side and start stacking up the canned string beans.
OK, so maybe that is a bit extreme. But some families have been talking about stockpiling to hedge against further increases and possible shortages.
The idea took hold last week when Costco and Sam’s Club announced that they would limit customers to four wholesale-size 20-pound bags of imported jasmine, basmati and long-grain white rices per trip.
That has caused some concern, but think about the last time you bought 20 pounds of rice in one shopping trip, let alone 80, 100 or even 120 pounds.
How Is the Economy Treating You? Tell ABC News
(A Clever way to find out who is in financial trouble. – The Infinite Unknown)
The clubs’ restrictions were probably not aimed at everyday consumers, however.
In a statement Friday, Sam’s Club said: “These limits are designed to prevent large distributors or wholesalers from depleting our stock. We believe limiting rice purchases to four bags per visit is consistent with the needs of the majority of our members, including many restaurants.”
In other words, the big chains are afraid some restaurants will deplete their stocks because their prices are cheaper than some traditional restaurant suppliers.
Stockpiling Hurts Everyone
The reasons for the food price increases include more grains being used for fuel production, increased demand in countries including China, and poor harvests.
For consumers concerned about rising food prices, stockpiling probably makes little economic sense, said Bill Knudson, a professor in the Department of Agricultural Economics at Michigan State University.
“The thing about stockpiling is that it becomes a self-fulfilling prophecy,” he said. “The easiest way to raise food prices is if everybody went out and stockpiled food.”
(If everybody went out buying just 20% more food there would be empty shelves everywhere. And if you do not stock up food now, you will probably find yourself in big trouble very soon. This is a crisis played down.
– The Infinite Unknown
From recent articles:
“Even if people increased their purchasing by 20%, all the store shelves would be wiped out.”
In the past two decades food prices have only increased by an average of 2.5 percent each year. But from 2006 to 2007, prices spiked 4 percent. The Department of Agriculture is forecasting a 4 to 5 percent increase in retail prices this year.
But some individual staples have jumped in price.
(Just some individual staples have jumped in price??? What a bad joke.- The Infinite Unknown)
The cost of white bread alone was 16.3 percent higher in March than a year earlier, according to the Labor Department’s Bureau of Labor Statistics, which tracks inflation through the Consumer Price Index. Grade A large eggs were up nearly 35 percent during the same period and sliced bacon rose 4.6 percent. Continue reading »
Fuel shortage forces UN to halt Gaza food aid
The UN is to halt food handouts for up to 800,000 Palestinians from tomorrow because of a severe fuel shortage in Gaza brought on by an Israeli economic blockade.
John Ging, the director of operations in Gaza for the UN Relief and Works Agency, which supports Palestinian refugees, said there had been a “totally inadequate” supply of fuel from Israel to Gaza for 10 months until it was finally halted two weeks ago. “The devastating humanitarian impact is entirely predictable,” he said.
A shortage of diesel and petrol means UN food assistance to 650,000 Palestinian refugees will stop tomorrow, and aid from the World Food Programme for another 127,000 Palestinians due in the coming days will also be halted.
“The collective punishment of the population of Gaza, which has been instituted for months now, has failed,” said Robert Serry, the UN special coordinator for the Middle East.
Gaza’s streets have largely been emptied of cars, except for those running on the last reserves of fuel, or on cooking gas or used vegetable oil.
Gaza will be high on the agenda at a meeting of donors to the Palestinians in London next Friday. Last year, after Hamas seized full control of Gaza, Israel imposed an economic blockade, preventing exports and allowing in only limited supplies of food, fuel and aid.
Recent militant attacks on Gaza’s crossings, strongly condemned by the UN, have meant a tightening of the closures.
Hours before Gaza’s sole power plant was to shut down, Israel pumped in 1m litres of industrial diesel, enough to last the plant around three days. Continue reading »
NEW YORK, April 23 (Reuters) – Wal-Mart Stores Inc’s (WMT.N: Quote, Profile, Research) Sam’s Club warehouse division said on Wednesday it is limiting sales of several types of rice, the latest sign that fears of a rice shortage are rippling around the world.
Sam’s Club, the No. 2 U.S. warehouse club operator, said it is limiting sales of Jasmine, Basmati and long grain white rice “due to recent supply and demand trends.”
U.S. rice futures hitting an all-time high Wednesday on worries about supply shortages.
On Tuesday, Costco Wholesale Corp (COST.O: Quote, Profile, Research), the largest U.S. warehouse club operator, said it has seen increased demand for items like rice and flour as customers, worried about global food shortages and rising prices, stock up.
Sam’s Club, the No. 2 U.S. warehouse club operator, is limiting sales of the 20-pound (9 kg), bulk bags of rice to four bags per customer per visit, and is working with suppliers to ensure the products remain in stock.
Warehouse clubs cater to individual shoppers as well as small businesses and restaurant owners looking to buy cheaper, bulk goods.
With prices for basic food items surging, customers have been going to the clubs to try to save money on bulk sizes of everything from pasta to cooking oil and rice. Continue reading »
MOUNTAIN VIEW, Calif. – Many parts of America, long considered the breadbasket of the world, are now confronting a once unthinkable phenomenon: food rationing. Major retailers in New York, in areas of New England, and on the West Coast are limiting purchases of flour, rice, and cooking oil as demand outstrips supply. There are also anecdotal reports that some consumers are hoarding grain stocks.
At a Costco Warehouse in Mountain View, Calif., yesterday, shoppers grew frustrated and occasionally uttered expletives as they searched in vain for the large sacks of rice they usually buy.
“Where’s the rice?” an engineer from Palo Alto, Calif., Yajun Liu, said. “You should be able to buy something like rice. This is ridiculous.”
A farmer harvests soy beans on the outskirts of Gualeguaychu, north of Buenos Aires.(Andres Stapff/Reuters)
Soaring food prices and global grain shortages are bringing new pressures on governments, food companies and consumers to relax their longstanding resistance to genetically engineered crops.
In Japan and South Korea, some manufacturers for the first time have begun buying genetically engineered corn for use in soft drinks, snacks and other foods. Until now, to avoid consumer backlash, the companies have paid extra to buy conventionally grown corn. But with prices having tripled in two years, it has become too expensive to be so finicky.
“We cannot afford it,” said a corn buyer at Kato Kagaku, a Japanese maker of corn starch and corn syrup.
In the United States, wheat growers and marketers, once hesitant about adopting biotechnology because they feared losing export sales, are now warming to it as a way to bolster supplies. Genetically modified crops contain genes from other organisms to make the plants resistance to insects, herbicides or disease. Opponents continue to worry that such crops have not been studied enough and that they might pose risks to health and the environment.
(Genetically modified crops have been studied long enough to know that GM food weakens the immune system within days, increases the cancer risk dramatically etc. – The Infinite Unknown) Continue reading »
Tags: Argentina, biotechnology, Brazil, Canada, crops, Food, Food Prices, Food Riots, Genetically Modified Organisms, GM Food, GMO, Grain, Herbicides, Immune System, Monsanto, Shortages, soybeans, United Nations, wheat, World Bank
Shortages of the staple crop of half the world’s people could bring unrest across Asia and Africa, reports foreign affairs editor Peter Beaumont
A global rice shortage that has seen prices of one of the world’s most important staple foods increase by 50 per cent in the past two weeks alone is triggering an international crisis, with countries banning export and threatening serious punishment for hoarders.
With rice stocks at their lowest for 30 years, prices of the grain rose more than 10 per cent on Friday to record highs and are expected to soar further in the coming months. Already China, India, Egypt, Vietnam and Cambodia have imposed tariffs or export bans, as it has become clear that world production of rice this year will decline in real terms by 3.5 per cent. The impact will be felt most keenly by the world’s poorest populations, who have become increasingly dependent on the crop as the prices of other grains have become too costly.
Tags: Africa, Asia, Cambodia, China, Climate Change, crops, Egypt, export bans, Food, Food Riots, India, Inflation, Mingkwan Sangsuwan, Philippines, rice, rice price, Shortages, social unrest, Thailand, traders, Vietnam, World Bank
Soaring demand for better quality food from rapidly industrializing emerging markets such as China, supply shortages, increased demand for biofuels, and a surging appetite for food commodities by investment funds, have combined to push prices of basic foods higher and higher in recent months.
Stephane Delodder, managing partner of Netherlands-based consultancy iFuel Corporate Advisory, told a conference the problem of rising food prices would persist for some years.
Market forces should eventually help rebalance supply and demand, especially in markets which are not highly regulated, but this could take some time.
“(It could be) a few years at most before the situation returns to normal,” Delodder said.
He said grains and oilseed futures markets, which have corrected down recently after meteoric rises, may already be signaling that supply will rise as farmers raise plantings. Continue reading »