Mainstream Media Agree: Crack Up Boom in Food

After yesterday’s piece on world food prices we made the connection to the current unrest in N.Africa and the Middle East to the unprecedented money printing by Bernanke and other central banks.

This question was put to Ben Bernanke yesterday – he dismissed it out of hand, saying he disagreed with the premise that the world food prices were rising as a direct consequence of his actions. No doubt, just like he disagreed with the premise that housing might be in a bubble in July 2005, and that house prices nationally could fall. Watch the Money Printer in Chief not buying the ‘premise’ here.

But today Dylan Ratigan on MSNBC was out saying exactly what we have been for quite a while. Namely that the unintended consequences of the money printing would be severe. Dylan doesn’t hold any punches:

• “The biggest blame does not lie on Wall Street, the most sinister driver of exploding global food prices is in the hallowed halls of our central government, hell bent on covering-up 2008s massive mega bank theft
• “ the answer to cover-up that theft was to turn on the money printing machine in overdrive.
• “Whether you’re cursing food and gas prices at home this summer, and wondering why, or a stunned observer of the unrest in the Middle East, realise both are the direct result of a pay cut from money printing”

Bill Fleckenstein, author of “Greenspan’s Bubbles”, joins the fray at the end of the clip, saying that when we had a Gold Standard it kept the governments in check – that “barbarous relic” is not looking so barbarous these days.

View the ‘must watch’ clip here.

Related posts:

1. World Food Prices Hit New Record – Welcome to the “Crack-Up-Boom”

Link to this article: : http://www.goldmadesimplenews.com/gold/mainstream-media-agree-crack-up-boom-in-food-2297/

Posted by Thomas Paterson on Feb 4 2011. Filed under Gold and Silver Media, Gold News, Markets. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry