Food inflation is here big time. And while retailers have been reluctant to raise food prices, a tsunami of higher prices is about to drown consumers in a wave of massive price increases. Soybeans, coffee, cocoa are all up. Corn is up 45 percent in the last three months. And cotton prices are the highest since after the Civil War.
Since commodity prices have skyrocketed, wholesale prices have increased; and although retailers have absorbed some prices increases, retailers have also used price masking gimmicks to surreptitiously compensate for increased costs by shrinking serving sizes while maintaining the old price."
Hyperinflation Will Start WITHIN A FEW MONTHS - John Williams
John Williams is the economist and statistician behind the site Government Shadow Stats. His charts (alternate SGS data) provide a unbiased accurate portrayal and trending analysis on many of the key economic numbers cooked by the private Fed Banks and Government BLS. Everything from unemployment (over 20%) to Fed M1, M2, M3 is tracked by ShadowStats.com and special reporting including John's Hyperinflation Paper is included on the site at no charge.
BNN recently interviewed John Williams, who says the Fed's recent actions have caused his predictions for the start of a complete loss in US Dollar confidence (and associated hyperinflation) to move considerably closer. He now says 1- years is the his new range with 2011 as a probable start.
The reporters chuckle as they interview him, evidently believing the recovery is in full swing. Perhaps they didn't notice "The Bernank's" upper lip quivering and twitching as he stated more lies and pure 999 BS during the recent 60 Minutes video.
A recently banned commercial about government waste and spending:
For reference here is the CBS interview where he says "We are not printing money, the money supply is not changing in any significant way" ... "we will not allow inflation to rise above 2% or less" (I guess he hasn't noticed the gas prices or the grocery store prices rising against the government BLS cooked CPI numbers). at the 7:00 minute mark in the video, The "Bernank" goes onto say, with a quivering upper lip -- exuding so much confidence on national TV -- "We [the private Fed Bank FOMC] could raise interest rates in 15 minutes if we have to". And what degree of of confidence does he have in the FOMC ability to control inflation? "100 Percent".
"The Bernank" former predictions (before the last crash). -- So, when has the FOMC EVER got it correct? A Free Silver Eagle to anyone who can give me 3 examples of when "The Bernank" has got any prediction or policy action proactively correct.
Below is a video of an historic accounting of the precursor to the German Weimar Hyperinflation and how it unfolded at lightning speed.
Note some similarities:
Government take over (or sale) of some of the industry and infrastructure: Fannie/Freddie, GM, Buffet buys railroad, Fed propping up stock market via PDs and POMO. Cities, Municipalities, and States leasing or selling infrastructure to foreign country investors (Real estate, Buildings, PA Turnpike operations, Chicago parking, etc...)
A Commercial property credit market about to collapse beginning in 2011. The "fraud-closer" scandal causing either: Contract law to be ignored and re-written, or major Banks to so insolvent. Thousands of banks will become insolvent or the basic rule of law will be totally ignored. Guess which one.
A financial debt bubble owed by the US government to the Federal Reserve, China, Japan, etc.. that the US will default on, because the interest will exceed the payment ability leading to WAR and/or depression.
Trillions (estimated 9-12 trillion by Bloomberg) used to back up existing global credit default denominated in dollars. Meanwhile China is using "people power" to stock up on silver and gold.
China exchanging US worthless dollars for commodities: