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Rice, death and the dollar
atimes.com — "The global food crisis is a monetary phenomenon, an unintended consequence of America's attempt to inflate its way out of a market failure. There are long-term reasons for food prices to rise, but the unprecedented spike in grain prices during the past year stems from the weakness of the American dollar. Washington's economic misery ..."
Michael9636- 23 diggs
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- kemp34, on 04/24/2008, -0/+2Yes, measured in relation to gold, most commodities have not risen over the past five years, while measured in dollars they have surged. That is called monetary debasement.
- yosgold, on 04/30/2008, -0/+1"China is exchanging its depreciating reserves of US dollars for things of value, notably rice, with frightening consequences for dependent countries, and deadly consequences for American foreign policy... The link between the declining parity of the US unit and the rising price of commodities, including oil as well as rice and other wares, is indisputable."
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