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mad mike

all indicators are that food is going to be the big news in 2008. stacks, bonds and gold will become secondary. the big boyz already got theirs. even if deflation takes 90% away from them they will still be millionaires.
as to hoarding, perhaps it is market rigging forcing prices up, perhaps it is over population, perhaps it is peak oil. i bet it's all three. just watch out. food prices are going to cause civil unrest and martial law in the usa. expect rolling power outages "for no reason" just like in florida.
read it and weep.
'Panic' wheat buying across the US
By Arlan Suderman, Farm Progress grain markets analyst
Tuesday, 26 February 2008

In the wheat price surge on Monday this week, the leading wheat contract in Minneapolis, US, rose by more than the entire worth of the contract just months ago.

Prices rallied by $5.75 a bushel, or by nearly 30pc, at one point from Friday’s close.

Eight months ago on June 19, the lead Minneapolis wheat contract settled at over $US5.00 a bushel.

Panic over commodity shortages continues to emerge as the dominant factor in the global markets, with both end user and speculative buyers of corn, soybean, cotton, rice and a host of other commodities taking note of what’s happening in the wheat pit.

While US has made improvements to increase crop production efficiency in recent years, the world hasn’t really put sufficient investment into production agriculture for several decades.

The net result has been declining stocks at the same time that expanding global wealth has demanded more raw commodities.

The net result on Monday was new all-time record high prices for corn, soybeans and wheat on the same day.

Sentiment in the marketplace is changing from, 'buying just-in-time' to one of, 'buy what you need at any price' and then to 'buy even more to restock the shelves'.

In other words, there’s evidence to suggest that we’re beginning to enter the hoarding phase of the inflationary cycle.

Along that line, commodity traders are attempting to hoard land on which to produce their respective commodities by bidding up prices in an acres war.

The market should remain in this phase until supply reaches surplus levels and everything collapses, similar to what was seen in the late-90s.

However, there’s little evidence at this point that the market will begin that collapse anytime soon, especially with the US growing season still weeks away and weather being as large as it’s ever been this year.

That doesn’t mean that there aren’t risks and that there won’t be large price swings similar to what have been seen in the wheat pits over the past six months.

But it does mean that end users and speculators alike, remain anxious to buy those price breaks when they occur.

Corn was largely a follower on Monday, reacting to sharply higher wheat and soybean prices.

Demand remains good, but most of the focus was with the above two commodities that are facing immediate supply shortfalls.

The real strength in corn is in the fear that other crops will rob too many acres from the feed grain, rendering it short in supply in the next marketing year that begins September 1.

Solid demand for soyoil and soybeans, especially from China, continues to fuel buying interest in the oilseed complex.

China is said to be buying both to fight food inflation and to build inventories ahead of this year’s Olympics.

Supply fears created by adverse weather in China’s rapeseed belt earlier this month, simply reinforced the sentiment.

The outright panic seen in the wheat pits today sent additional tremors through the oilseed market, where traders couldn’t help wonder if a similar scenario could be in its future.

The panic buying came on the day that Minneapolis lifted all daily limits on the March contract, hoping to ensure that the contract would enter into its delivery period in an orderly fashion on Friday.

Nobody wanted to be a seller in this environment, causing the lead contract to quickly surge above $23/bus.

The Minneapolis March contract eventually reached $25 per bushel, before correcting lower to $24 at the close, up $4.75 on the day.

The deferred Minneapolis contracts locked the expanded 90c daily trading limit higher for much of the day.

Limits on those contracts will expand to $1.35 tomorrow, beginning with electronic trade this evening (US central time).

Chicago and Kansas City contracts locked the 60c daily trading limit higher today, with those limits expected to increase to 90c.

(See separate Chicago report)

SOURCE: Farm Progress, US, a Fairfax Media publication


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Elaine Meinel Supkis

John, mysterious stuff is funny, hahaha. But still thick as soup that has been boiled too long.


Since I do not believe that any bunch of people has a right to a percentage of the results of my efforts, and since I do not believe that democracy is a benevolent form of organized force; I have no problem with the existence of secret bank accounts. If the political state were not so greedy and so self-righteous in its armoured greed, those banks would not be necessary. We blame the rich because the politicians benefit the rich. Then when the politicians go all socialist redistribution on the rich we get 50 years of communist decay and we wonder why there is no entrepreurship, no wealth generation, no personal initiative. Why in this world would anyone go to the trouble to set up three separate accounts through two different fake chairities into a bank in a postage stamp nation if one were not faced with basic exporpriation of one's earnings, of ones hours of labour, of ones life or at least the receipts from that life? When the nation one lives in decides to steal all it can in the name of social justice; it is neither social nor just; it is just a parasite with guns run amok. So I will have to disagree about the usefulness of private banks and bank secrecy. It is not the government's business in the first place, second place or anyplace.
Which is not to say I disagree about the Queen. There really are not enough lampposts with yardarms anymore; really a shame that most cities did away with them.


I'm OK with lynching royalty and other elites, with the understanding their cadavers will be donated to the Univ of Havana Medical School.

However, having enjoyed the islands off the coast of BC, I must protest your lumping of all islands as pirate coves. Some are just nice places with no banking infrastructure, not even an ATM.


Her Son, is going to be the Sovereign, The King, Yes the soon coming Global King.


For CK.

Do you think that the immense global traffic in drugs would be possible if it wasn't for the banking secrecy laws of tax havens?


Short Answer: Yes.
Longer answer: The global traffic in drugs is supported by and profitable to governments. The 3% of so of global drugs that is taken and burned by various governmental agencies is the equivalent of security theatre. 97% gets through.
Try a little thought experiment. Start with the premise that those things we call "dangerous drugs," were suddenly not just legal but legal in the same sense that wheat or oats or coffee is legal. What do you think a pack of weed would cost at the corner 7-11? Or a bottle of Laudanum over the counter at the pharmacy? Would nose candy be as sweet if it were just another agrictultural commodity valued at $5 a pound? The banks don't create the trade, humans like the stuff and enjoy the effects; always have always will. Governments make things illegal for the express purpose of mandating high profits to the selct few. The Columbian drug lords moved their money the old fashioned way, through Citi and BofA and Merrill Lynch. Through front companies and on CIA leased planes. The mafia uses italian banks and papal connections. The hawala system is used by others in the trade. You could read up on Air America ( the vietnam era airline not the bush era faux liberal radion station ), BCCI, Riggs Bank, etc. etc.
If it is more useful to run the profits through Citi or Bank of Columbia than through Lichtenstein then that is what will be done, if the profitability turns from Bank of Columbia to some post offic box on Guernsey then that is the route the money will take as it moves from buyer to provider.
Bank secrecy protects you from having your money expropriated by government goons empowered with guns, handcuffs and prisons.
Bank secrecy does not empower humans with the desire to smoke some hemp, chew some leaf, drink some concoction, snort some nose candy. Our brains do that all on their own. Our brains make cannaboloid and opiod analogues and have receptors for those analogues; probably genetic since humans have been around those opiods and cannaboloids for a long time. I imagine somewhere back in pre-history a lightning strike lit a field of cannabis growing wild somewhere in the garden of eden and the folks downwind of the fire had a right jolly time of it. And have been having a right jolly time ever since. ( I am not certain who the first toad licker might have been but that was one brave aborigine ).

Elaine Meinel Supkis

Correct, CK.

Britain's empire really took off when they decided to be drug runners. Like perfume, spices and gold, drugs are easy to carry, don't need much to make a profit and the more it is like PIRACY, the better. Illegal drugs are the best. They are, beyond doubt, THE most profitable trade on earth. Bar none.

This is also why the CIA, Mossad and all the other spook organizations do this. Note how the US invades lands and then drug running takes off?

Suusi M-B

Sorry the UK does not have a constitution. The nearest thing we have is the Human rights act. Which both Government and the opposition want to abolish.

About the only right English people have is to walk quietly down a road without causing a blockage or commission.

Yes I see what you mean about Drugs and the US (and the UK) administration, it is like they are protecting their own private monopoly.

Elaine Meinel Supkis

And you are always on camera in England these days. Talk about a snoopy government!

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