Philippines threatens rice hoarders with life imprisonment

Filipinos face life in prison if they’re caught hoarding rice.

“The Department of Justice is preparing economic sabotage or plunder charges that carry a life sentence against traders found to be hoarding rice, the price of which has risen sharply amid a tight global supply,” The Inquirer reports. “Although the country has yet to experience a shortage, Justice Secretary Raul Gonzalez Thursday vowed to hale to court hoarders and other unscrupulous rice traders for acts ‘inimical to the public interest.'”

President Gloria Macapagal-Arroyo reiterated the warnings during a speech today, but also pledged to increase imports of the staple.

“Those who seek to take advantage of our people must be stopped,” she says, according to The Inquirer. “I am leading the charge to crack down on any form of corruption by public or private officials who would divert supplies or pervert the price of this essential commodity in any way.”

“Anyone caught stealing rice from the people will be thrown in jail,” she adds.

Bloomberg News
reports that the price of rice, a key staple in the global food supply, keeps hitting record highs. It’s now twice as expensive as it was at this time in 2007.

“We’re in for a tough time,” Roland Jansen, CEO of Mother Earth Investments AG, tells the financial news service, adding: “you will have huge problems of daily nutrition for half the planet.”

(Photo of workers in Manila taken March 28 by Romeo Ranoco, Reuters.)

Source: USA Today

Scientists take drugs to boost brain power: study

(Don’t you ever take drugs like Ritalin etc. That is lethal stuff, that destroys the brain
and you also become addicted to it. – The Infinite Unknown)

Twenty percent of scientists admit to using performance-enhancing prescription drugs for non-medical reasons, according to a survey released Wednesday by Nature, Britain’s top science journal.

The overwhelming majority of these med-taking brainiacs said they indulged in order to “improve concentration,” and 60 percent said they did so on a daily or weekly basis.

The 1,427 respondents — most of them in the United States — completed an informal, online survey posted on the “Nature Network” Web forum, a discussion site for scientists operated by the Nature Publishing Group.

More than a third said that they would feel pressure to give their children such drugs if they knew other kids at school were also taking them.

“These are academics working in scientific institutions,” Ruth Francis, who handles press relations for the group, told AFP.

The survey focused on three drugs widely available by prescription or via the Internet.

Ritalin, a trade name for methylphenidate, is a stimulant normally used to treat attention-deficit hyperactivity disorder, especially in children. Modafinil — marketed at Provigil — is prescribed to treat sleep disorders, but is also effective against general fatigue and jet lag.

Read moreScientists take drugs to boost brain power: study

IMF says US crisis is ‘largest financial shock since Great Depression’


A foreclosure sign in Florida. Photograph: Joe Raedle/Getty Images

America’s mortgage crisis has spiralled into “the largest financial shock since the Great Depression” and there is now a one-in-four chance of a full-blown global recession over the next 12 months, the International Monetary Fund warned today.

Read moreIMF says US crisis is ‘largest financial shock since Great Depression’

Bush Given Authority To Sexually Torture American Children

The “horror of the shrieking boys” gets a rubber stamp from the boot-licking U.S. Congress & Senate as America officially becomes a dictatorship

Paul Joseph Watson/Prison Planet.com | September 29 2006

Slamming the final nail in the coffin of everything America used to stand for, the boot-licking U.S. Senate last night gave President Bush the legal authority to abduct and sexually mutilate American citizens and American children in the name of the war on terror.

There is nothing in the “detainee” legislation that protects American citizens from being kidnapped by their own government and tortured.

Yale Law Professor Bruce Ackerman states in the L.A. Times, “The compromise legislation….authorizes the president to seize American citizens as enemy combatants, even if they have never left the United States. And once thrown into military prison, they cannot expect a trial by their peers or any other of the normal protections of the Bill of Rights.”

Similarly, law Professor Marty Lederman explains: “this [subsection (ii) of the definition of ‘unlawful enemy combatant’] means that if the Pentagon says you’re an unlawful enemy combatant — using whatever criteria they wish — then as far as Congress, and U.S. law, is concerned, you are one, whether or not you have had any connection to ‘hostilities’ at all.”

We have established that the bill allows the President to define American citizens as enemy combatants. Now let’s take it one step further.

Before this article is dismissed as another extremist hyperbolic rant, please take a few minutes out of your day to check for yourself the claim that Bush now has not only the legal authority but the active blessings of his own advisors to torture American children.

The backdrop of the Bush administration’s push to obliterate the Geneva Conventions was encapsulated by John “torture” Yoo, professor of law at Berkeley, co-author of the PATRIOT Act, author of torture memos and White House advisor.

During a December 1st debate in Chicago with Notre Dame professor and international human rights scholar Doug Cassel, John Yoo gave the green light for the scope of torture to legally include sexual torture of infants.

Cassel: If the president deems that he’s got to torture somebody, including by crushing the testicles of the person’s child, there is no law that can stop him?

Yoo: No treaty.

Cassel: Also no law by Congress — that is what you wrote in the August 2002 memo…

Yoo: I think it depends on why the President thinks he needs to do that.

Read moreBush Given Authority To Sexually Torture American Children

Haitian President Fails to Restore Order

PORT-AU-PRINCE, Haiti – A desperate appeal from the president Wednesday failed to restore order to Haiti’s shattered capital, and bands of looters sacked stores, warehouses and government offices.

Gunfire rang out from the wealthy suburbs in the hills to the starving slums below as 9,000 U.N. peacekeepers were unable to halt a frenzy of looting and violence that has grown out of protests over rising food prices.


Police officers disperse demonstrators in Port-au-Prince, Wednesday, April 09, 2008.
(AP Photo/Ariana Cubillos)

Many of the protesters are demanding the resignation of the U.S.-backed president, Rene Preval, and on Tuesday U.N. peacekeepers had to fire rubber bullets and tear gas to drive away a mob that tried to storm his palace.

He delivered his first public comments Wednesday, nearly a week into the protests. With his job on the line, Preval urged Congress to cut taxes on imported food and appealed to the rioters to go home.

“The solution is not to go around destroying stores,” he said. “I’m giving you orders to stop.”

But gunfire rang out around the palace after the speech, as peacekeepers tried to drive away people looting surrounding stores.

The streets remained in the control of bands of young men carrying sticks and rocks, who set up roadblocks of burning tires and stopped passing cars. Businesses were closed and most people locked themselves indoors, as mobs looted stores, warehouses and government offices.

Read moreHaitian President Fails to Restore Order

Controversy: Mercenaries Training US Local Police Officers

There are many police and law enforcement officials who are concerned with the growing trend of using military-trained mercenaries to train and work with local police officers in the United States, but there are many who believe the events of September 11, 2001 dictate the need for a new paradigm.

For example, Kentucky’s Lexington Police Department contracted Blackwater Security International to provide what’s described as homeland security training. Meanwhile that city’s Mayor Jim Newberry and its chief of police Anthony Beatty refused free training provided by the US Immigration and Customs Enforcement federal program that prepares police officers to enforce immigration and border security as part of their duties.

Lexington is on the nation’s list of so-called Sanctuary Cities in which police officers are prohibited from working with ICE or Border Patrol agents in the United States. Critics are angry over the use of local tax dollars to hire Blackwater personnel to train the police.

But Lexington isn’t the only city using hired guns to help local police officers. In New Orleans, heavily armed operatives from the Blackwater private security firm, infamous for their work in Iraq, are openly patrolling the streets of that beleaguered city.

Some of the mercenaries were reportedly “deputized” by the Louisiana governor and were issued gold Louisiana State law enforcement badges to wear on their chests and Blackwater photo identification cards to be worn on their arms.

While they are working in Louisiana, Blackwater officials say they are on contract with the Department of Homeland Security and have been given the authority to use lethal force if necessary. Some of the mercenaries assigned to patrol the streets of New Orleans recently returned from Iraq, where they provided personal security details for the former head of the US occupation, L. Paul Bremer, and the former US ambassador to Iraq, John Negroponte.

Read moreControversy: Mercenaries Training US Local Police Officers

Fed: Severe Downturn Possible

WASHINGTON (Reuters) – Members of the Federal Reserve’s policy-setting committee worried at their most recent meeting that housing and financial market stress could trigger a nasty slide in the economy, even as inflation pushed higher, minutes of the meeting released on Tuesday show.

“Some believed that a prolonged and severe economic downturn could not be ruled out given the further restriction of credit availability and ongoing weakness in the housing market,” minutes of the March 18 meeting said.

Fed economists presented a somber picture of short-term prospects — central bank staff now fully expect negative growth over the first six months of the year — but held out the possibility of a modest rebound later.

“The staff projection showed a contraction of real GDP in the first half of 2008 followed by a slow rise in the second half,” the report said, referring to gross domestic product, a broad measure of a country’s output of goods and services.

At the same time, Fed officials found recent inflation reports “disappointing,” noting also with concern that some indicators of inflation expectations were edging higher.

Read moreFed: Severe Downturn Possible

USA 2008: The Great Depression

Food stamps are the symbol of poverty in the US. In the era of the credit crunch, a record 28 million Americans are now relying on them to survive – a sure sign the world’s richest country faces economic crisis

We knew things were bad on Wall Street, but on Main Street it may be worse. Startling official statistics show that as a new economic recession stalks the United States, a record number of Americans will shortly be depending on food stamps just to feed themselves and their families.

Dismal projections by the Congressional Budget Office in Washington suggest that in the fiscal year starting in October, 28 million people in the US will be using government food stamps to buy essential groceries, the highest level since the food assistance programme was introduced in the 1960s.


Disadvantaged Americans queue for aid in New York

Read moreUSA 2008: The Great Depression

Petraeus Testimony Next Week Will Signal Iran Attack

By Paul Craig Roberts

Paul Craig Roberts a former Assistant Secretary of the US Treasury and former associate editor of the Wall Street Journal, has been reporting shocking cases of prosecutorial abuse for two decades. A new edition of his book, The Tyranny of Good Intentions, co-authored with Lawrence Stratton, a documented account of how Americans lost the protection of law, is forthcoming from Random House in March, 2008.

06/04/08 “ICH’ — – April 5, 2008. Today the London Telegraph reported that “British officials gave warning yesterday that America’s commander in Iraq will declare that Iran is waging war against the US-backed Baghdad government. A strong statement from General David Petraeus about Iran’s intervention in Iraq could set the stage for a US attack on Iranian militiary facilities, according to a Whitehall assessment.”

The neocon lacky Petraeus has had his script written for him by Cheney, and Petraeus together with neocon warmonger Ryan Crocker, the US governor of the Green Zone in Baghdad, will present Congress next Tuesday and Wednesday with the lies, for which the road has been well paved by neocon propagandists such as Kimberly Kagan, that “the US must recognize that Iran is engaged in a full-up proxy war against it in Iraq.”

Don’t expect Congress to do anything except to egg on the attack. On April 3 the International Herald Tribune reported that senators and representatives have made millions of dollars from their investments in defense companies totaling $196 million. Rep. Ike Skelton, the Democrat chairman of the House Armed Services Committee, is already on board with the attack on Iran. The London Telegraph quotes Skelton: “Iran is the bull in the china shop. In all of this, they seem to have links to all of the Shi’ite groups, whether they be political or military.”

Read morePetraeus Testimony Next Week Will Signal Iran Attack

British fear US commander is beating the drum for Iran strikes

British officials gave warning yesterday that America’s commander in Iraq will declare that Iran is waging war against the US-backed Baghdad government.

A strong statement from General David Petraeus about Iran’s intervention in Iraq could set the stage for a US attack on Iranian military facilities, according to a Whitehall assessment. In closely watched testimony in Washington next week, Gen Petraeus will state that the Iranian threat has risen as Tehran has supplied and directed attacks by militia fighters against the Iraqi state and its US allies.

General David Petraeus: British fear US commander is beating the drum for Iran strikes
General Petraeus: recent attacks on the green zone used Iranian-provided, Iranian-made rockets

Read moreBritish fear US commander is beating the drum for Iran strikes

IMF Approves Selling 400 Tons Of Gold

Washington (AHN) – The executive board of the International Monetary Fund has approved the sale of some 440.3 tons of its gold supplies in a wide-ranging financial overhaul and to replenish its depleting coffers.

Dominique Strauss-Kahn, IMF managing director, welcomed the board’s move on Monday, the action seen as a buffer to the expected $400 million budget deficit the Washington-based lending institution could experience in the next few years.

The board is projecting to generate at least $11 billion from the sale of at least 12 percent of its gold reserve. The money to be generated from the sales would fund the reorganization of the IMF and finance lending to needing countries.

Read moreIMF Approves Selling 400 Tons Of Gold

Feed the world? We are fighting a losing battle, UN admits

Huge budget deficit means millions more face starvation.

Ears of wheat growing in a field. Photograph: Steve Satushek/Getty images

The United Nations warned yesterday that it no longer has enough money to keep global malnutrition at bay this year in the face of a dramatic upward surge in world commodity prices, which have created a “new face of hunger”.

Read moreFeed the world? We are fighting a losing battle, UN admits

IMF: mortgage crisis may cost $945bn worldwide

The International Monetary Fund released its semiannual Global Financial Stability Report, predicting that the economic crisis “is spreading beyond the US subprime market.” The report comes ahead of the IMF and World Bank spring meetings.

The International Monetary Fund said Tuesday the worldwide losses stemming from the US subprime mortgage crisis could hit 945 billion dollars as the impact spreads in the global economy.

Read moreIMF: mortgage crisis may cost $945bn worldwide

Food additives ‘could be as damaging as lead in petrol’

Artificial food colours are set to be removed from hundreds of products after a team of university researchers warned they were doing as much damage to children’s brains as lead in petrol.

Academics at Southampton University, who carried out an official study into seven additives for the Food Standards Agency (FSA), said children’s intelligence was being significantly damaged by E-numbers. After receiving the advice last month, officials at the FSA have advised their directors to call for the food industry to remove six additives named in the study by the end of next year.

Read moreFood additives ‘could be as damaging as lead in petrol’

Secret plans for US troops to stay in Iraq

A secret draft agreement is being drawn up to allow United States forces to remain in Iraq indefinitely, it has been reported.

  • Iraqi Shia leader wants to disband Mahdi army
  • Watch: Iraq Surge report presented to politicians
  • The document, which was written a month ago and is and marked “secret” and “sensitive”, is intended to replace the United Nations mandate for coalition troops, including British forces, to remain in Iraq, which expires at the end of the year.

    Gen Petraeus
    Watch: Gen Petraeus delivers the Iraq report

    The draft authorisation would allow for the US to “conduct military operations in Iraq and to detain individuals when necessary for imperative reasons of security”.

    It does not set a time limit, but describes the arrangement as temporary and points out that the US does not want “permanent bases or a permanent military presence” in the country. It also states that the US does not seek to use Iraq as a base to launch operations against other states.

    The draft agreement is unlikely to emerge unscathed from political scrutiny in Baghdad or Washington. There appears little appetite in the US for a drawn-out occupation of Iraq. In Baghdad, both Shia and Sunni political groups opposed to the American presence are likely to oppose the agreement in its draft form.

    Moqtada al-Sadr, a vocal critic of the occupation, said yesterday that he would consider disbanding his powerful Mahdi army – but only after consulting the ayatollahs, or religious leaders.

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    Iraq’s prime minister, Nouri al-Maliki, said that if the militia, which has battled American and government forces in Basra and Baghdad for the past two weeks, was not disbanded its political wing would be barred from provincial elections.

    “They no longer have a right to participate in the political process or take part in the upcoming elections unless they end the Mahdi army,” said Mr Maliki.

    Sadr said he would consult religious figures, including Grand Ayatollah Ali al-Sistani, the moderate Shia leader who is revered as a “source of emulation”.

    By putting the fate of his powerful militia in the hands of the religious hierarchy, the cleric appears to be gambling that he will establish his credentials as a figure capable of unifying Iraq’s majority Shia community under his leadership.

    However, Sadr said ayatollahs in the Iranian city of Qom, home to his spiritual mentor Grand Ayatollah Kazim al-Haeri, a known hard-liner, would also have a say.

    The cleric’s supporters will tomorrow attempt to mount a “million-strong” march in Baghdad to mark the fifth anniversary of the city’s fall. It will follow a report on Iraq to the US Congress in Washington by General David Petraeus and Ryan Crocker, the ambassador to Baghdad.

    By Damien McElroy

    Last Updated: 2:10am BST 09/04/2008

    Source: Telegraph

    Superfast internet may replace world wide web

    The internet could soon be made obsolete by a new “grid” system which is 10,000 times faster than broadband connections.

    Scientists in Switzerland have developed a lightning-fast replacement to the internet that would allow feature films and music catalogues to be downloaded within seconds.

    Read moreSuperfast internet may replace world wide web

    Food riots fear after rice price hits a high

    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.

    Read moreFood riots fear after rice price hits a high

    Tranquillisers putting children’s lives at risk

    · Anti-psychotics may cause long-term harm, say critics
    · Youngsters under 6 being given unlicensed drugs

    New evidence has shown children’s lives are being put at risk by a surge in the use of controversial tranquillising drugs which are being prescribed to control their behaviour, the Guardian has learned.

    The anti-psychotic drugs are being given to youngsters under the age of six even though the drugs have no licence for use in children except in certain schizophrenia cases, the report says.

    The number of children on the drugs has doubled since the early 1990s as the UK begins to follow a trend started in the US, but critics say they are a “chemical cosh” that could cause premature death.

    Read moreTranquillisers putting children’s lives at risk

    Yoo Memos Prove That The Fourth Reich Is Here

    Recent news on the White House torture and spy memos has amazingly received very little coverage in the corporate controlled media. For instance, Barack Obama’s low bowling score has received more coverage than these memos. The media some how thinks Obama’s horrible bowling skills are more important than evidence that could be used to prosecute members of the Bush administration for all sorts of criminality including war crimes. That makes no sense, but of course when you consider that the corporate controlled media creates reality for people it makes perfect sense. Both of these memos were written by former Deputy Assistant Attorney General John Yoo and prove that the Bush administration sought to justify torture and ignore the Fourth Amendment under the guise of the phony war on terror. In the memos, Yoo concludes that Bush can torture and spy without a warrant if he is doing these things to protect the country from terrorists. Of course, the majority of the so called terrorists that the media and the government claims we are fighting are actually trained and funded by western governments so the whole thing is a big fraud. That of course is a whole other story. In these memos, it is clear that Yoo shows a blatant disregard for both U.S. and international law. Yoo and other members of the Bush administration should really be put on trial for war crimes but since the corporate controlled media thinks that Obama’s low bowling score is more important than smoking gun proof of war crimes, that’s probably not going to happen.

    First let’s tackle the spying memo. Below is taken from an excerpt of an Associated Press report on the 37-page secret Justice Department memo in which Yoo concludes that the Fourth Amendment does not apply to domestic military operations.

    Read moreYoo Memos Prove That The Fourth Reich Is Here

    Drug Makers Near Old Goal: A Legal Shield

    For years, Johnson & Johnson obscured evidence that its popular Ortho Evra birth control patch delivered much more estrogen than standard birth control pills, potentially increasing the risk of blood clots and strokes, according to internal company documents.

    But because the Food and Drug Administration approved the patch, the company is arguing in court that it cannot be sued by women who claim that they were injured by the product — even though its old label inaccurately described the amount of estrogen it released.

    This legal argument is called pre-emption. After decades of being dismissed by courts, the tactic now appears to be on the verge of success, lawyers for plaintiffs and drug companies say.

    The Bush administration has argued strongly in favor of the doctrine, which holds that the F.D.A. is the only agency with enough expertise to regulate drug makers and that its decisions should not be second-guessed by courts. The Supreme Court is to rule on a case next term that could make pre-emption a legal standard for drug cases. The court already ruled in February that many suits against the makers of medical devices like pacemakers are pre-empted.

    More than 3,000 women and their families have sued Johnson & Johnson, asserting that users of the Ortho Evra patch suffered heart attacks, strokes and, in 40 cases, death. From 2002 to 2006, the food and drug agency received reports of at least 50 deaths associated with the drug.

    Read moreDrug Makers Near Old Goal: A Legal Shield

    Ritter says White House preparing for war in Iran

    MIDDLEBURY – Scott Ritter, former head of weapons inspection in Iraq who protested there were no weapons of mass destruction to justify an invasion, believes the same is true for Iran.

    But there is an 80 percent chance of war with Iran, he told about 200 people Wednesday at Middlebury College as part of a series of talks facilitated by the Vermont Peace and Justice Center.

    The pattern of preparations for such a conflict has been steadily developing and involves Congress as well as the Bush-Cheney administration, he said.

    Read moreRitter says White House preparing for war in Iran

    Pandemic fear over resistant superbug

    Doctors have warned that if a superbug which is known to be even more resistant to antibiotics than clostridium difficile and MRSA takes hold in hospitals, the country could face a pandemic.

    The acinetobacter bug is being treated with older antibiotics because newer ones do not work. There are fears that injured soldiers returning from Iraq and Afghanistan have passed the infection on in civilian hospitals.

    Prof Matthew Falagas, an expert in hospital-acquired infections, said: “In some cases, we have simply run out of treatments and we could be facing a pandemic with public health implications.”
    He warned delegates at the Society for General Microbiology conference in Edinburgh: “Doctors in many countries have gone back to using old antibiotics that were abandoned 20 years ago because their toxic side-effects were so frequent and so bad.

    Read morePandemic fear over resistant superbug

    Nations to establish independent new world order – Ahmadinejad

    Stressing that era for the US Government to consider itself the owner of the entire world is over, Iran’s President Mahmoud Ahmadinejad said here, “Resorting to countless capabilities, world nations would establish an independent new world order, if hegemonic powers would keep on exerting pressure over them.” President Ahmadinejad made the comment in an interview with Japan’s Kyodo news agency, adding, “Today is beginning of an era for the domineering of the world nations who will soon impose their will, like many governments that are fed up with the status quo of the unjust international relations and willing to alter them, and this is an event that would definitely take place.”

    OPPRESSIVE POWERS HAVE BECOME ISOLATED
    The President of the Islamic Republic of Iran pointed out that the oppressive powers of the world had assumed they could isolate the Iranian nation, but the reverse has happened today, since Iran enjoys excellent and friendly ties with most world nations based on mutual respect.

    President Ahmadinejad further reiterated, “On the contrary, the US government is suffering from having achieved the worst international status today. They had assumed if they would sit at the UN Security Council and decide over a matter it would be done for sure, while they had better realize if such decisions remain unheeded it means that they need to harmonize with world nations.”
    He added, “It is to their own benefit to do so, since otherwise they would be fully isolated in the long run.”
    Ahmadinejad added, “Today no nation, including the Japanese nation, likes the politicians of the oppressive powers, such as the US president, and I can assure you that even the Americans do not like their own president.”

    Read moreNations to establish independent new world order – Ahmadinejad

    NATO ‘direct threat’ to Russia, says Putin

    MOSCOW: President Vladimir Putin lashed out at NATO plans to continue its eastward expansion, saying Russia would see the induction of Ukraine and Georgia as an “immediate threat” to its security and react accordingly.

    “The presence of a powerful military bloc on our borders, whose members are guided by Article 5 of the Washington Treaty will be seen as direct threat to our national security,” Mr. Putin said at a news conference after the NATO-Russia Council meeting on the sidelines of the NATO summit in Bucharest. It was Mr. Putin’s farewell interaction with the Western leaders. He steps down on May 7, when new President Dmitry Medvedev takes the oath.

    NATO leaders refrained from granting a Membership Action Plan to Ukraine and Georgia on Thursday, but promised to do it later, insisting that the NATO doors were open for the two post-Soviet republics.

    Warning that Russia would react strongly to the move, Mr. Putin said: “Let us be honest with each other – we will treat you as you treat us.”

    Read moreNATO ‘direct threat’ to Russia, says Putin

    Fed’s interest rate games could destroy the dollar

    Federal Reserve Chairman Ben Bernanke has reduced the key federal funds rate six times in as many months — reducing the cost for major borrowers significantly. This combines with providing $270 million in funding, plus $30 billion in additional guarantees, for JP Morgan Chase to buy Bear Stearns Cos.

    “Helicopter Ben” is living up to the nickname he earned after he remarked in a 2002 speech that he would stave off a recession even if he had to drop money from helicopters to do it.

    The results of these policies have been destructive. The dollar is collapsing not only against foreign currencies — we’re now at par with the Canadian dollar and rocketing toward a 2-1 deficit against the Euro — but also against commodities. Gold was passing the $1,000-an-ounce landmark, silver $20. Even industrial metals like copper and zinc are fetching record prices.

    Now, a spike in a particular commodity — say, for instance, $100-per-barrel oil — can be attributed to a shortage. But when they all move dramatically and simultaneously, it’s the purchasing power of our money that has gone down.

    In fact, the increasing cost of even the base metals recently prompted Edmund Moy, director of the United States Mint, to propose further debasing the copper and nickel-plated, zinc slugs we call coins by substituting color-coated steel.

    Read moreFed’s interest rate games could destroy the dollar