Billions at risk from wheat super-blight – New Scientist

wheat-rust.jpgPossible migration routes of wheat rust Ug99

Possible migration routes of wheat rust Ug99

“This thing has immense potential for social and human destruction.” Startling words – but spoken by the father of the Green Revolution, Nobel laureate Norman Borlaug, they are not easily dismissed.

An infection is coming, and almost no one has heard about it. This infection isn’t going to give you flu, or TB. In fact, it isn’t interested in you at all. It is after the wheat plants that feed more people than any other single food source on the planet. And because of cutbacks in international research, we aren’t prepared. The famines that were banished by the advent of disease-resistant crops in the Green Revolution of the 1960s could return, Borlaug told New Scientist.

Read moreBillions at risk from wheat super-blight – New Scientist

Derivatives Have Become the World’s Biggest Black Market

Buffett and Gross warn: $516 trillion bubble is a disaster waiting to happen

ARROYO GRANDE, Calif. – “Charlie and I believe Berkshire should be a fortress of financial strength” wrote Warren Buffett. That was five years before the subprime-credit meltdown.

“We try to be alert to any sort of mega-catastrophe risk, and that posture may make us unduly appreciative about the burgeoning quantities of long-term derivatives contracts and the massive amount of uncollateralized receivables that are growing alongside. In our view, however, derivatives are financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal.”

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Why the US has really gone broke

Global confidence in the US economy has reached zero, as was proved by last month’s stock market meltdown. But there is an enormous anomaly in the US economy above and beyond the subprime mortgage crisis, the housing bubble and the prospect of recession: 60 years of misallocation of resources, and borrowings, to the establishment and maintenance of a military-industrial complex as the basis of the nation’s economic life

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Fed takes boldest action since the Depression to rescue US mortgage industry

The US Federal Reserve has taken the boldest action since the 1930s, accepting $200bn of housing debt as collateral to prevent an implosion of the mortgage finance industry and head off a full-blown economic crisis.

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Emergency action was co-ordinated by Ben Bernanke [right], Donald Kohn [top], and Mark Carney after problems emerged

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Fed Prints Another $200 Billion Out Of Thin Air

World central banks unite to ease credit strain

WASHINGTON (Reuters) – The U.S. Federal Reserve and four other central banks on Tuesday teamed up to get hundreds of billions of dollars in fresh funds to cash-starved credit markets, allowing financial firms to use securities backed by home mortgages as collateral for central bank loans.

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Stocks surged, bonds fell and the long-suffering U.S. dollar soared in reaction to the moves, a sign financial markets saw the plan as a step in the right direction to ease a crisis that has threatened world economic growth. The Dow Jones industrials closed nearly 3.6 percent higher.

In the latest effort to ease a credit contraction that has disrupted global finance, the Fed, Bank of Canada, Bank of England, European Central Bank and Swiss National Bank announced a series of aggressive measures to boost liquidity. It was the second time in three months that central banks from around the globe had launched coordinated efforts.

Wall Street economists were quick to call the new lending facility a step in the right direction, but what’s most needed is time for the de-leveraging of billions of dollars in loans globally.

Read moreFed Prints Another $200 Billion Out Of Thin Air

Commodities Boom Sends French Food Prices Rocketing

PARIS (Reuters) – Prices of grain and milk-based food products have surged in France in recent months due to booming commodities prices, a French consumer group said in a report.

A monitoring of over 1,000 products between the end of November and early January in five supermarkets showed that yoghurt, milk and pasta had most suffered from the surge in many agricultural commodities that started last year.

“They’re not rising, they’ve caught fire,” monthly 60 Millions de Consommateurs said in its March report, circulated ahead of publication on Tuesday.

“Everywhere since the start of the year, spaghetti, yoghurt, camembert cheeses, have seen staggering rises in prices,” it said, stressing that the surge had hit all types of products, famous brands as well as supermarket own-brands.

Read moreCommodities Boom Sends French Food Prices Rocketing

Disappearing bees threaten ice cream sellers

Premium maker Haagen-Dazs says vanishing bee colonies in the United States could mean fewer flavors and higher prices.

NEW YORK (CNNMoney.com) — Haagen-Dazs is warning that a creature as small as a honeybee could become a big problem for the premium ice cream maker’s business.

At issue are the disappearing bee colonies in the United States, a situation that continues to mystify scientists and frighten foodmakers.

That’s because, according to Haagen-Dazs, one-third of the U.S. food supply – including a variety of fruits, vegetables and even nuts – depends on pollination from bees.

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Bees are responsible for 40% of Haagen-Dazs' flavors currently sold in the market.

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IMF tells states to plan for the worst

Governments might have to intervene with taxpayers’ money to shore up the financial system and prevent a “downward credit spiral” from taking hold, the International Monetary Fund said yesterday.

John Lipsky, the IMF’s first deputy managing director, said: “We must keep all options on the table, including the potential use of public funds to safeguard the financial system.”

By Krishna Guha in Washington

Published: March 13 2008 02:00 | Last updated: March 13 2008 02:00

Source Financial Times

The U.S. Dollar Is Being Destroyed

The global economy is falling apart all around us. We can expect a continued rise in the price of gold and silver as it is becoming increasingly apparent that the Federal Reserve, the U.S. government and even Alan Greenspan are doing everything they can to destroy the value of the U.S. Dollar. In fact, the policies currently being implemented by the establishment is criminal because by devaluing the U.S. Dollar they are indirectly robbing from the American middle class by destroying the purchasing power of everyone’s bank accounts that are denominated in U.S. Dollars. At this point it is becoming increasingly clear that the establishment wants a weaker U.S. Dollar considering some of the insane policies they are implementing and insane things that they are saying.

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What makes this rise in precious metals particularly interesting is the fact that the IMF has been dumping gold on to the market and gold continues to move up in value. The manipulation of the gold market is starting to fail as is the policy of managing a slow decline of the U.S. Dollar without a parabolic rise in precious metals. The rise in silver has been particularly spectacular rising around $1 in price yesterday and it shows no signs of slowing down. At this point we could easily see gold at $1,000 an ounce and silver at $20 an ounce within the next month or two. So why is all of this happening? Let’s take a look at some of the news that has come out in the past few days.

Read moreThe U.S. Dollar Is Being Destroyed