Wheat soars on Russia export ban, trade halted

Read entire article HERE.

" Russia's worst drought on record has devastated crops in parts of the country and sent international grain prices soaring as markets placed bets that without shipments from one of the world's leading exporters, global supplies would be restricted. "
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Food Prices Soar in India

Read more here:

" Food prices have been soaring at an unprecedented pace. Government data shows they have risen to a nearly 20 per cent high over last year - the fastest rate of increase in over a decade.

The spike in prices comes in the wake of lighter than normal monsoon rains, which led to a poor harvest of summer crops such as rice and sugar.

Finance Minister Pranab Mukherjee admits that rising food prices are a matter of concern, and says the government may consider imports to augment supplies of essential commodities."

Jim Rogers Interview: "Become a Farmer" (with notes)

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Notes:

1. Abolish the Fed - market will raise rates before the Fed - Fed will follow - watch for currency market turmoil as trigger.
2. Tim Geithner wrong about the solution to our problem being to try to spend our way out of this mess - which is what got us into this. Why are we listening to Tim Geithner when he's been consistently wrong?
3. Gold is already high - not a buy right now - wouldn't think of selling now - buy at $1,000-central banks around world are shifting to buying gold - several thousand an ounce in the next decade
4. Silver-rather own silver than gold, agriculture probably best buy - ?How to buy? he says buy indexes - but the best thing to do is become a farmer. Food inventories lowest in decades - water is a good commodity - water companies - India and China have water problems - find a way to solve their water problems and you can become rich.
5. Could be a rally in the dollar in the short term - sell at that time - then buy yen, swiss francs Can. Dollars - or commodities
6. Paper money (all over world) not to be trusted.
7. UK not going to keep its triple A rating - he owns no sterling.
8. China turns out 10 or 15 times as many engineers as USA - remember what happened with the Japanese auto industry overtaking USA.