20 Signs That A Horrific Global Food Crisis is Underway

I read this article in ProphecyNewsWatch.com and thought it would be good for my prophecy and news updates.

http://www.prophecynewswatch.com/2011/April22/2292.html

The food situation is very serious and I’ve been reporting for the last several years that it just keeps getting worse. Now we are at a time when the world leaders are hording food in underground warehouses and shelters.

 

There is very adequate evidence that a global food crisis is underway and deepening almost daily. The already poor are being hit the hardest but it is also apparent that even the much wealthier middles classes in Western Cultures are beginning to feel the crunch, due mainly to unemployment and the rising cost of living.

Related articles

Global Food Crisis

Food prices soar to record levels worldwide while the World Food Security Committee is meeting in Rome to discuss the crisis. Are there winners and losers in the current food crisis? What can the international community do about it on both global and local level?

Related articles

We’ve Been Warned: The System Is ready to Blow

New-York-stock-exchange

Traders work at the New York Stock Exchange on 9 August. Photograph: Stan Honda/AFP/Getty Images

For the past two centuries and more, life in Britain has been governed by a simple concept: tomorrow will be better than today. Black August has given us a glimpse of a dystopia, one in which the financial markets buckle and the cities burn. Like Scrooge, we have been shown what might be to come unless we change our ways.

There were glimmers of hope amid last week’s despair. Neighbourhoods rallied round in the face of the looting. The Muslim community in Birmingham showed incredible dignity after three young men were mown down by a car and killed during the riots. It was chastening to see consumerism laid bare. We have seen the future and we know it sucks. All of which is cause for cautious optimism – provided the right lessons are drawn.

Lesson number one is that the financial and social causes are linked. Lesson number two is that what links the City banker and the looter is the lack of restraint, the absence of boundaries to bad behaviour. Lesson number three is that we ignore this at our peril.

To understand the mess we are in, it’s important to know how we got here. Today marks the 40th anniversary of Richard Nixon’s announcement that America was suspending the convertibility of thedollar into gold at $35 an ounce. Speculative attacks on the dollar had begun in the late 1960s as concerns mounted over America’s rising trade deficit and the cost of the Vietnam war. Other countries were increasingly reluctant to take dollars in payment and demanded gold instead. Nixon called time on the Bretton Woods system of fixed but adjustable exchange rates, under which countries could use capital controls in order to stimulate their economies without fear of a run on their currency. It was also an era in which protectionist measures were used quite liberally: Nixon announced on 15 August 1971 that he was imposing a 10% tax on all imports into the US.

Four decades on, it is hard not to feel nostalgia for the Bretton Woods system. Imperfect though it was, it acted as an anchor for the global economy for more than a quarter of a century, and allowed individual countries to pursue full employment policies. It was a period devoid of systemic financial crises.

Utter mess

There have been big structural changes in the way the global economy has been managed since 1971, none of them especially beneficial. The fixed exchange rate system has been replaced by a hybrid system in which some currencies are pegged and others float. The currencies in the eurozone, for example, are fixed against each other, but the eurofloats against the dollar, the pound and the Swiss franc. The Hong Kong dollar is tied to the US dollar, while Beijing has operated a system under which the yuan is allowed to appreciate against the greenback but at a rate much slower than economic fundamentals would suggest.

The system is an utter mess, particularly since almost every country in the world is now seeking to manipulate its currency downwards in order to make exports cheaper and imports dearer. This is clearly not possible. Sir Mervyn King noted last week that the solution to the crisis involved China and Germany reflating their economies so that debtor nations like the US and Britain could export more. Progress on that front has been painfully slow, and will remain so while the global currency system remains so dysfunctional. The solution is either a fully floating system under which countries stop manipulating their currencies or an attempt to recreate a new fixed exchange rate system using a basket of world currencies as its anchor.

The break-up of the Bretton Woods system paved the way for the liberalisation of financial markets. This began in the 1970s and picked up speed in the 1980s. Exchange controls were lifted and formal restrictions on credit abandoned. Policymakers were left with only one blunt instrument to control the availability of credit: interest rates.

For a while in the late 1980s, the easy availability of money provided the illusion of wealth but there was a shift from a debt-averse world where financial crises were virtually unknown to a debt-sodden world constantly teetering on the brink of banking armageddon.

Currency markets lost their anchor in 1971 when the US suspended dollar convertibility. Over the years, financial markets have lost their moral anchor, engaging not just in reckless but fraudulent behaviour. According to the US economist James Galbraith, increased complexity was the cover for blatant and widespread wrongdoing.

Looking back at the sub-prime mortgage scandal, in which millions of Americans were mis-sold home loans, Galbraith says there has been a complete breakdown in trust that is impairing the hopes of economic recovery.

“There was a private vocabulary, well-known in the industry, covering these loans and related financial products: liars’ loans, Ninja loans (the borrowers had no income, no job or assets), neutron loans (loans that would explode, destroying the people but leaving the buildings intact), toxic waste (the residue of the securitisation process). I suggest that this tells you that those who sold these products knew or suspected that their line of work was not 100% honest. Think of the restaurant where the staff refers to the food as scum, sludge and sewage.”

Finally, there has been a big change in the way that the spoils of economic success have been divvied up. Back when Nixon was berating the speculators attacking the dollar peg, there was an implicit social contract under which the individual was guaranteed a job and a decent wage that rose as the economy grew. The fruits of growth were shared with employers, and taxes were recycled into schools, health care and pensions. In return, individuals obeyed the law and encouraged their children to do the same. The assumption was that each generation would have a better life than the last.

This implicit social contract has broken down. Growth is less rapid than it was 40 years ago, and the gains have disproportionately gone to companies and the very rich. In the UK, the professional middle classes, particularly in the southeast, are doing fine, but below them in the income scale are people who have become more dependent on debt as their real incomes have stagnated. Next are the people on minimum wage jobs, which have to be topped up by tax credits so they can make ends meet. At the very bottom of the pile are those who are without work, many of them second and third generation unemployed.

Deep trouble

A crisis that has been four decades in the making will not be solved overnight. It will be difficult to recast the global monetary system to ensure that the next few years see gradual recovery rather than depression. Wall Street and the City will resist all attempts at clipping their wings. There is strong ideological resistance to the policies that make decent wages in a full employment economy feasible: capital controls, allowing strong trade unions, wage subsidies, and protectionism.

But this is a fork in the road. History suggests there is no iron law of progress and there have been periods when things have got worse not better. Together, the global imbalances, the manic-depressive behaviour of stock markets, the venality of the financial sector, the growing gulf between rich and poor, the high levels of unemployment, the naked consumerism and the riots are telling us something.

This is a system in deep trouble and it is waiting to blow.

Architects & Engineers – Solving the Mystery of WTC 7 – AE911Truth.org

Architects & Engineers: Solving the Mystery of WTC 7

This is AE911Truth’s new 9/11 documentary on the mysterious destruction of World Trade Center Building #7 on 9/11/01. Join actor, Ed Asner and Architect Richard Gage, AIA and Architects and Engineers as they narrate an unfolding story that decimates the official account (“collapse due to normal office fires”) of this 47 story high-rise which was destroyed on the afternoon of 9/11 in record time: top to bottom in under 7 seconds – and at free-fall acceleration for a third of its fall. Solving the Mystery of the Free-Fall collapse of WTC 7.

This is AE911Truth’s best shot at a professionally produced 15 minute informative and engaging WTC 7 documentary – designed for newcomers. It is free. Please spread Far and Wide, including Architects and Engineers.

The documentary includes several of the dozens of technical and building experts that were interviewed and that appear in our forthcoming full length documentary – 9/11: Explosive Evidence – Experts Speak Out. Altogether of course there are more than 1,500 Architects & Engineers that have signed the AE911Truth petition calling for a new investigation of the destruction of all 3 high-rises at the World Trade Center on 9/11.

Special thanks to the AE911Truth volunteer video crew!

We are proud to partner with the 9/11 family members and first responders of RememberBuilding7.org in the 10th Anniversary Campaign to raise awareness about WTC 7 in cities across America.
Please visit http://RememberBuilding7.org and decide what you can do to help the campaign.

Please also support the work of AE911Truth, a non-partisan non-profit 501c3 organization with your financial support by visiting http://AE911Truth.org today and click the Donate button. We are a community organization with no corporate sponsorship. YOU are our lifeline. Join the family of sustaining supporters today!

AE911Truth.org 9/11 documentary part 1 911 documentary french brothers 9 11 documentary history channel 9/11 documentary bbc 911 documentary conspiracy 9 11 documentary firefighters 9/11 documentary french brothers 911 documentary list 911 documentary naudet brothers part 1 part 2 part 3 part 4 part 5 part 6 part 7 part 8 part 9 part 10 part 11 part 12 full length long AE911Truth.org Architects and Engineers Solving the Mystery of WTC7 Collapse live video footage Building 7 Richard Gage Ed Asner AE911Truth.org

Related articles

Ted Gunderson Former FBI Chief – Most Terror Attacks Are Committed By Our CIA And FBI

This video deals with the 911 deception; nothing less than another false flag event to accelerate the now not-so-hidden agenda of the global elite and the New World Order.

 

Judge to Madoff investors: You’re Not Worth That Much

bernie madoff appeal

Financial statements issued by Ponzi schemer Bernard Madoff are 'fictitious' and have no basis for investor claims, ruled a federal judge.

NEW YORK (CNNMoney) — A federal judge shot down an appeal from investors in Bernard Madoff’s scheme, dismissing their opinion that they’re entitled to the amount of money that the Ponzi schemer said they were worth.

The ruling applies to investors who believe they should be compensated not just for the money they invested with Madoff, but for the amount of money he said they were worth. These amounts were based on the last financial statements Madoff sent out before his scam collapsed with his arrest on Dec. 11, 2008.

Madoff’s statements typically said that the balance had grown significantly since the original deposit, even though the money wasn’t actually invested and, in many cases, simply disappeared.

Judge Dennis Jacobs of the U.S. Court of Appeals in New York wrote that the use of Madoff’s financial statements as a basis for claims “would have the absurd effect of treating fictitious and arbitrarily assigned paper profits as real, and would give legal effect to Madoff’s machinations.”

With his ruling, Judge Jacobs sided with Irving Picard, an attorney appointed by U.S. Bankruptcy Court in Manhattan to track down the money and assets lost to Madoff in the largest pyramid scheme in history.

More than 16,000 investors have filed claims with Picard to retrieve the money they lost to Madoff. But Picard has rejected the majority of these claims, and actually sued some of these investors for allegedly profiting from the scheme, regardless of whether or not they suspected Madoff as a shyster.

Picard is only recognizing net equity claims, meaning claims from investors who deposited more than they withdrew and are seeking to get their deposits back.

Lawyers make millions from Madoff mess

“We have maintained all along that our definition of net equity — which is supported by longstanding precedents in bankruptcy and securities laws — is the fairest approach to the determination of claims, and we hope that the court’s decision can be the final word on this issue,” said Picard’s spokeswoman Amanda Remus in a statement.

Anthony Sabino, a business and law professor from St. John’s University, said the judge’s ruling is based on “settled law” and “common sense.”

“It’s absurd to think that the losses suffered by these investors could be calculated on the basis of fake profits, as claimed by that master trickster, Bernie Madoff,” said Sabino. “Certainly, what they suffered is tragic, but you don’t compound the tragedy by making ludicrous assertions of what was lost.”

But Ron Stein, president of the Network for Investor Action and Protection, said he “strongly disagrees with the appeals court’s ruling, which is another blow to small investors who merely relied on the information their broker gave them.”

Helen Davis Chaitman, an attorney representing Diane and Roger Peskin, who are among the dozens of investors who appealed, said the judge’s ruling undermines investors’ faith in the markets.

“The Second Circuit’s holding will destroy investor confidence in the capital markets because of the promise of [Securities Investor Protection Corp.] insurance is illusory,” she said, referring to the nonprofit organization that provides insurance to investors.

Inside Madoff’s New York penthouse

But Securities Investor Protection Corp. chairman Orlan Johnson stood by the judge’s decision and said “the trustee’s calculation does the greatest good for the greatest number of Madoff victims.”

Saul Katz and Fred Wilpon and the partners of Sterling Equities, co-owners of the New York Mets baseball team, are among the group of investors who filed the appeal. They were sued by the trustee for allegedly profiting off the scheme. Like other sued investors, they deny having any knowledge that it was a Ponzi scheme.

After Judge Jacobs announced his dismissal of the appeal, Sterling Partners expressed disappointment that “the decision did not address the validity” of the trustee’s lawsuit against Sterling.

“As we have made clear in our motion to dismiss that lawsuit, which is pending before the District Court, the claims and allegations in the Trustee’s lawsuit against the Sterling Partners are without factual or legal merit,” said Sterling Partners, in a prepared statement.

Madoff pleaded guilty in March 2009 to 11 criminal counts related to running the Ponzi scheme. The 73-year-old convict is languishing at a federal prison in North Carolina, where is serving a 150-year sentence. To top of page

First Published: August 16, 2011: 1:27 PM ET

Gerald Celente: The Entire System Is Collapsing

The number of people filing new claims for jobless benefits jumped last week after three straight declines, another sign that the pace of layoffs has not slowed. Gerald Celente says that there is no way governments can just keep pumping money into the economy and it will only get worse, with an eventual crash.