Saturday, February 19, 2011

It's the hoarders and speculators

Couldn't be monetary policy.

Rising wholesale prices spur inflation concerns
There's no inflation in the US, though.

According to someone who can't figure out how to use TurboTax, the inflation is in China.
Geithner: Chinese Inflation Helping U.S. Compete

Unfortunately, that would appear to be contributing to rising food prices.
As Speculative Bullish Bets Surge, Is Rice The Next Silver

In Taiwan, they're taking direct action.
Prosecutors Office vows to crack down on food hoarding

In the US, where there is no inflation, preparations are being made for seizure of alternative currencies... the hoardings of greedy capitalists... inedible commodities.

Prepare To Give Up All Private Data For Any Gold Purchase Over $100

That will make it easier to recycle some of FDR's executive orders:

Executive Order 6102 - Requiring Gold Coin, Gold Bullion and Gold Certificates to Be Delivered to the Government
April 5, 1933

Executive Order 6814 - Requiring the Delivery of All Silver to the United States for Coinage
August 9, 1934

No, it couldn't be monetary policy that causes people to shift savings from fiat currency to commodities and alternative forms of money. It couldn't be government printing presses that promote food inflation.

Therefore, you are required to hold on to your dollars until the dollar bubble bursts. If you don't, we'll take your stuff and give you US dollar denominated food stamps in exchange.

The Agricultural Adjustment Administration's Ever-Normal Granary accepts US dollars and food stamps. To avoid disappointment, check exchange rates before entering the queue.
Agricultural Adjustment Administration, USDA, c. 1936.
Source: Special Collections, National Agricultural Library

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