... and now India, China, Greece ...
US monetary policy has caused devastating inflation around the globe,
and in the US, suppliers have reduced the size of their packages while holding the price the same.
this amounts to a massive increase in the price of food.
Eric LaMont Gregory
If, our current Secretary of the Treasury is allowed to remain at the helm and continues to structure the US economy as he did at the Federal Reserve Bank of New York - by winter, many Americans may have to choose between heating their homes and feeding their families.
The US Treasury’s propitiatory arbitrariness to the Federal Reserve has already caused devastating inflation around the globe. And, as a result economic policies in the United States are triggering instability in other nations.
Quantitative Easing was meant to keep the United States from defaulting under the weight of its own debt, but that is not working, and instead of the booming economy that QE promised, it has led to the near destruction of the US dollar, and its role as the world‘s reserve currency.
The poorest nations in the world felt the effects first. It began in Tunisia, spread to Algeria, next to fall was Egypt, then Libya, and now India, and even China.
Although, the US State Department, and other masters’ of the universe, were clamouring about the winds of political change sweeping North Africa.
However, it was in fact, basic commodity price inflation, people who could no longer afford to eat; and not politics, that finally pushed the people of North Africa over the edge. (see: http://www.theoxfordscientist.com - Egypt - North Africa in Flames)
The recent instability that we have witnessed across the globe is a result of food becoming too expensive.
Within days of the first protests in Tunisia, and for the same reasons, protests spread to Algeria, those early protesters were carrying signs which read ‘We Want Sugar!’
Economic policies in the United States are skyrocketing the cost of food in North Africa, the Middle East, and now India, due to rampant inflation. As inflation spreads so will instability.
Not only is the price of food rising steadily, but that of all commodities, including oil, wheat, soybeans, corn, coal, etcetera, etcetera, etcetera.
At present, in India thousands are taking to the streets to protest soaring food prices, the problems that exist in Greece have been made worse, and the Iberian Peninsula, Spain and Portugal, will follow, as Ireland waits for its presence at centre stage.
And even China has not escaped. There have been food price increase protests in 13 of its major cities by angry Chinese citizens carrying signs reading ‘We Want Food!’
The US Dollar is backed solely by the fact that it is the world's reserve currency, this has been the case since 1971.
For now, everything from oil pumped in Venezuela to beef produced in Brazil is priced and traded in US Dollars.
For example, an auto manufacturer in Korea importing steel from Japan must first convert the Korean currency (won) into US dollars, then pay for the transaction, and the Japanese exporter must then convert the US Dollars into Japanese Yen.
The need for dollars to buy international goods is the only thing that gives the US Dollar any value at all.
As long as the Federal Reserve continues to pump an additional $80 billion dollars into the money supply each and every month, the price of everything will inevitably rise.
It is US monetary policy that is driving middle class income and the purchasing power of retiring Americans into the poverty level.
The so-called 40-40-40 rule; you work for forty years, you save for forty years, and then you retire and live on 40% of your working income, hardly the American dream.
While, food producers in the US hide the soaring costs of food from the American consumer by passing on their increased costs with smaller packaging and with fewer goods inside.
Everyone from orange juice, detergent, cheese slices, hot dogs, and coffee producers have reduced the size and content of their containers while holding the price the same. This amounts to a massive increase in the price of food.
Milk packaging is such a standard that producers have simply increased the price from $1.39 to $1.99 a gallon.
Let me finish where I began, if the US Treasury continues to blindly and obediently follow the Federal Reserve into a QE3, and further erode the value of the US Dollar, many Americans this winter, may have to choose between heating their homes and feeding their families.
And perhaps, by the Fall of 2011; if not sooner, our national debt will be more than 100% of our GDP, the last time that happened was 1929.
What is Unified Quest 2011? - other than the adage, pray for peace; but prepare for civil unrest.
Things need not arrive at such an austere juncture, as Lincoln discovered, those wise, sage, framers of the Constitution put the responsibility for our economy in the hands of the Congress of the United States; not the Federal Reserve or the Department of Defense.