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RE: Greg Hunter: Weekly News Wrap-Up for Week Ending 5 July 2019
The crop losses are rather concerning, yet I see and hear little of it on the main stream media. Looks as though food prices will rise substantially some six months on from now.
The USA wants to join the 'great currency manipulation game' - or currency wars - , so much for free markets! All FIAT currencies are falling in value and only precious metals will win in the end.
Thank you for posting this Greg Hunter new wrap-up on Steemit.
Last weekend I did a tour across farm country in the plain states. From what I saw from the road it is hit or miss with some fields. Most of the corn fields looked less than knee high with a few just ankle high. Last year at this time the majority of corn fields were waist high. About half the soybean fields last weekend were ankle high. Last year the soybean fields were about knew high.
On my tour last weekend, I got the same feeling Greg Hunter has, "it is not going to be a good harvest this year". As you said it will take several more months before the city folks in the main stream media start talking about the potential for a bad harvest season. By then food prices will already be higher than they are now. Anyone depending on the main stream media for important news will be as they say "a day late and a dollar short".
All currencies have been racing to the bottom for a while. The reason the U.S. dollar looks so well is that it is the world reserve currency and the touting of how well the U.S. economy is doing. In some parts of the country it is very easy to get a job, but in other areas homelessness is growing. Now that the U.S. will be joining the 'great currency manipulation game' the race to the bottom is full on. Countries (central banks) will be falling over each other to devalue their currencies. Of course this always hurts the middle class and savers. It is very possible that hyperinflation will be masked by the fiat race to the bottom.
It is a near certainty that this will not end well. But there is a possibility that 'the end' could be held at bay until 2021. It will be good to have silver, gold, bitcoin, real estate, a little cash, and be debt free when 'the end' comes.
Have a great weekend!
Steem on,
Mike
Thank you for your long informative reply.
It's always good to see things for yourself and not to rely on the main stream media. From your observations, it substantiates Greg Hunter's account of the crop losses/crisis. It seems that the crops you mentioned are at least six or more weeks behind in the growing season!
As Jim Rickards wrote in a recent article:
Currency wars are a way to steal growth from trading partners by reducing the cost of exports. The problem is that this tactic does not work because trade partners retaliate by reducing the value of their own currencies. This competitive devaluation goes back and forth for years.
Everyone is worse off and no one wins.
Yes, having real assets and NOT paper is the solution.
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