How Ben Bernanke Sentenced The Poorest 20% Of The Population To A Cold, Hungry Winter

 

Watch Bernanke, Greenspan And Corrigan Live From Jekyll Island

 

Mort Zuckerman: America's Love Affair With Obama Is Over

 

Confusion Continues As Spec Dollar Longs Jump, While Investors Bet On Commodity Inflation And Treasury Price Increases

 

 

 

NIA Projects Future U.S. Food Price Increases

 

The National Inflation Association today announced the release of its report about NIA's projections of future U.S. food price increases due to the massive monetary inflation being created by the Federal Reserve's $600 billion quantitative easing. This report was written by NIA's President Gerard Adams, who believes food inflation will take over in 2011 as America's greatest crisis. According to Mr. Adams, making mortgage payments will soon be the last thing on the minds of all Americans. We currently have a currency crisis that could soon turn into hyperinflation and a complete societal collapse.

 

"For every economic problem the U.S. government tries to solve, it always creates two or three much larger catastrophes in the process," said Adams. "Just like we predicted this past December, the U.S. dollar index bounced in early 2010 and has been in free-fall ever since. Bernanke's QE2 will likely accelerate this free-fall into a complete U.S. dollar rout," warned Adams.

 

NIA projects that at the average U.S. grocery store it will soon cost $11.43 for one ear of corn, $23.05 for a 24 oz loaf of wheat bread, $62.21 for a 32 oz package of Domino Granulated Sugar, $24.31 for a 32 fl oz container of soy milk, $77.71 for a 11.30 oz container of Folgers Classic Roast Coffee, $45.71 for a 64 fl oz container of Minute Maid Orange Juice, and $15.50 for a Hershey's Milk Chocolate 1.55 oz candy bar. NIA also projects that by the end of this decade, a plain white men's cotton t-shirt at Wal-Mart will cost $55.57.

 

NIA's special U.S. food price projection report is now available to download for free at: http://inflation.us/foodpriceprojections.pdf

 

The report highlights how despite cotton rising by 54%, corn rising by 29%, soybeans rising by 22%, orange juice rising by 17%, and sugar rising by 51% during the months of September and October alone, these huge commodity price increases have yet to make their way into America's grocery stores because corporations have been reluctant to pass these price increases along to the consumer. In today's dismal economy, no retailer wants to be the first to dramatically raise food prices. However, NIA expects all retailers to soon substantially raise food prices at the same time, which will ensure that this Holiday shopping season will be the worst in recorded American history.

 

If you are an NIA member and have a question about the U.S. economy or inflation, please browse through our ‘NIAnswers’ database and if your question hasn’t already been answered there, you can either submit it on ‘NIAnswers’ or email it to us at: editor@inflation.us

 

If you are a member of the media and would like to schedule an interview with NIA’s President Gerard Adams about inflation, please send an email to media@inflation.us or if it is urgent you can call us directly at 1-888-99-NIA US (1-888-996-4287).

 

In The News Today

Posted: Nov 05 2010     By: Jim Sinclair      Post Edited: November 5, 2010 at 9:50 pm
Filed under: In The News

Jim Sinclair’s Commentary
Four so far this weekend.

Bank Closing Information – November 5, 2010
These links contain useful information for the customers and vendors of these closed banks.

First Vietnamese American Bank, Westminster, CA
Pierce Commercial Bank, Tacoma, WA
Western Commercial Bank, Woodland Hills, CA
K Bank, Randallstown, MD

http://www.fdic.gov/




Jim Sinclair’s Commentary
What OTC derivatives do not do to the international investment banks, litigation will. –JSMineset.com, 2006

None of these fraud ridden instruments can stand the light of day that ligation threatens to shine on them.

Investors sue Citigroup over toxic mortgage bonds
Citigroup Inc. is being sued by big investors that bought the bank’s toxic mortgage bonds during the run-up to the financial crisis.
New York-based Citigroup said in a regulatory filing Friday that Charles Schwab Corp., the Federal Home Loan Banks of Chicago and Indianapolis, Cambridge Place Investment Management and others filed the lawsuits beginning in July. The suits allege that Citigroup made misstatements or omissions related to mortgage investments that it sold.
The New York-based company funded subprime loans, repurchased and pooled them, then sliced the pools into securities that could be resold to investors.
The trillions of dollars in the securities produced by Wall Street turned out to be toxic. When home prices stopped rising and borrowers couldn’t repay, no one knew how much the bonds were worth. The uncertainty was so widespread that it helped trigger a global credit crisis in 2008.
The investors suing Citigroup say the bank misled them about the quality of the mortgages in its bonds. They want courts to make Citigroup buy back the investments at full price, and to assess other damages.
More…




Jim Sinclair’s Commentary

The longest train wreck in US history.

Fannie seeks $2.5 billion from U.S. after 3rd-quarter loss Fri Nov 5, 2010 5:12pm EDT
NEW YORK (Reuters) – Fannie Mae (FNMA.OB), the largest provider of financing for U.S. residential mortgages, on Friday said it lost $3.5 billion in the third quarter on foreclosure and other credit expenses, sending it to the U.S. Treasury for more capital.
The government-sponsored company said it would need $2.5 billion from Treasury to cover a $2.4 billion net worth deficit. More than 85 percent of that shortfall was dividend payments back to Treasury, it said in a statement.
Fannie Mae said credit-related expenses, which include provisions for losses and foreclosed property expense, rose to $5.6 billion in the quarter from $4.9 billion in the second quarter. Among factors, it lowered the value of repossessed homes it owns, it said.
Revenue increased 13 percent to $5.1 billion in the quarter as interest income on its portfolio rose.
Fannie Mae and rival Freddie Mac (FMCC.OB) are at a crossroads where Congress is debating changes to their businesses — or their very existence — after decades of providing the lion’s share of U.S. home loan funding. Both political parties have said their current models that are costing taxpayers to billions of dollars must be abolished though are split on the level of future government support.
More…