Anarchy Along The Jersey Shore And On Long Island In The Aftermath Of Hurricane Sandy

Anarchy Along The Jersey Shore And On Long Island In The Aftermath Of Hurricane Sandy

Read Full Post »

Read Full Post »

Some Fracking Advice!

Jelo1317's Blog

“Do Buffalo County, WI Residents Know What “Silica” Is?  What About Fracking?” by Johnnie Loeffler Schmeckpeper

 

Facts from OSHA:

 

What is crystalline silica?

Crystalline silica is a basic component of soil,

sand, granite, and many other minerals.  Quartz

is the most common form of crystalline silica.

Cristobalite and tridymite are two other forms

of crystalline silica.  All three forms may become

respirable size particles when workers chip, cut,

drill, or grind objects that contain crystalline silica.

What are the hazards

of crystalline silica?

Silica exposure remains a serious threat to

nearly 2 million U.S. workers, including more than

100,000 workers in high risk jobs such as abrasive

blasting, foundry work, stonecutting, rock drilling,

quarry work and tunneling. The seriousness of

the health hazards associated with silica exposure

is demonstrated by the fatalities and disabling

illnesses that continue to occur in sandblasters and

rockdrillers. Crystalline silica has been classifiedas a…

View original post 1,288 more words

Read Full Post »

What is So Hard About Figuring Out How Bad “Fracking” Is?!! – An Enlightened Conversation

Hydraulic Fracturing Report 4.18.11 (1) U.S. House of Reps. Comm. on Energy and Commerce Minority Staff April 2011

Jelo1317's Blog

This Was Sent To Twin Cities Daily Planet:  Local News For Global Citizens:  http://www.tcdailyplanet.net/

I thought you might find this entertainingly interesting at least!  😉  This is a email from me to my county’s board on

their decision to table “fracking” in my area that you covered (see links at end of message) due to me contacting various local/regional news sources to get this story covered for the sake of humans, animals and the environment!  If the environment goes, which it will if they start “Sand Fracking” and/or Hydraulic Fracturing or Hydraulic “Fracking,” there will be nothing left to report!  Human existence is at stake here due to the extremely damaging effects of both types of “Fracking!”  The U.S. Government report attached is legitimate and virus-free.  You can Google it!  Enjoy the read! 🙂

Sincerely,

Johnnie Loeffler Schmeckpeper

—– Forwarded Message —–
From: Johnnie Schmeckpeper <jelo1317@yahoo.com>
To: Del Twidt…

View original post 1,028 more words

Read Full Post »

WTF – How to Screw Gays, But Not in a Good Way!

By Ian Millhiser

John Boehner’s $520/hr Lawyer!

Earlier this year, Speaker John Boehner’s (R) office announced that American taxpayers would pay former Bush Solicitor General Paul Clement to defend the unconstitutional Defense of Marriage Act — at a cost of $520 per hour of legal work. Clement’s original contract, however, included a $500,000 cap on the amount Clement could charge the United States to help protect discrimination. Less than six months later, Clement appears to have blown through that cap, and the House GOP now anticipates that he will take another $1 million from the American people:

The [House of Representatives] agrees to pay [Clement’s law firm] for all services to be rendered pursuant to this Agreement a sum not to exceed $750,000.00. It is further understood and agreed that, effective October 1, 2011, the aforementioned $750,000 cap may be raised from time to time up to, but not exceeding, $1.5 million, upon written notice of the [House] to the [firm].

Clement is one of the nation’s top litigators, so Boehner has certainly not spared any expense in ensuring that unconstitutional discrimination against gay couples receives the best legal team available. The same cannot be said, however, for programs that actually benefit the American people. At the same time that the House GOP is writing enormous checks to keep anti-gay discrimination alive, they are pushing sharp cuts to education, job training and health care. In other words, John Boehner’s plan is to create lucrative jobs for hard-right attorneys, and leave the rest of the nation out in the cold.

Read Full Post »

WTF- Swine Flu Hits U.S.A.

Mexico issues surgical masks to residents to protect against swine flu

By now, we’ve all heard the news on swine flu. Cases of swine flu were first reported in Mexico. However, news reports have now stated that it has spread into American soil. Known cases have been noted in California, New York, Texas, Ohio and Kansas to name a few. Other cases are now being reported on a global scale, notably, in New Zealand.

While swine flu has paralyzed most of  Mexico in recent days, the White House has declared a state of public health emergency although cases in the U.S.A. have been mild. While no known vaccine (or cure for the lack of a better term) exists, White House officials recommend that regular procedures are still followed: cover your mouth and nose when sneezing, wash your hands at all times.

To learn more on swine flu and key facts on it, please visit the Centers for Disease Control’s (CDC) page on swine flu. To learn more on the White House briefing regarding swine flu, please visit Yahoo’s article titled US Declares Public Health Emergency for Swine Flu. You can also visit CNNs home page for the latest news on swine flu.

*Please note that all information in this entry has been obtained by the websites listed above and should be credited to their respective authors.

(Image courtesy of The Huffington Post)

Read Full Post »

WTF? College Wrestler Booted For Posing in Gay Photo

Gay.com 03-20-09

Wrestler won’t apologize for gay porn photos. And why should he? Last year, All-American wrestler Paul Donahoe (University of Nebraska) was booted from the University’s team after the University learned that Donahoe and a teammate posed nude for a gay website. Paul had been on his own as a young man since high school, and did the shoot for the $4K that he earned. He says he is straight (no reason to doubt him and it’s really quite irrelevant), and that he didn’t tell anyone about the shoot because he didn’t want the attention – just needed the money. Well, the University found out and took away his scholarship and booted him off the team. Paul sat out a semester, until getting a chance to transfer to Edinboro University in PA, where he is doing fantastically well. Paul refuses to ask for forgiveness or apologize for anything he did. And why in the hell should he? The NCAA claimed – and the University claimed – he broke rules of benefiting commercially from his image as a wrestler. So, he gave the money to a charity. And that should have been the end of it. There was zero reason to kick him off the team, and therefore zero reason for him to apologize. I am not alone in assuming that his ”real crime” here was being on a gay site instead of a straight site. That, I am sure, is what the University wanted him to apologize for. And good for him that he refuses to. As he says, he’s not gay, but he couldn’t care a less about it if he was, if someone else, whatever. He says he hears ignorant chants in the matches from opposing fans, and uses them to just motivate him to kick his opponents’ asses. Which he does all the time: he’s now ranked number one in the nation in his weight class. I hope he gets to take on someone from the University of Nebraska at nationals this year. And I hope he puts their head through the floor.

Read Full Post »

Party’ Drug Could be PTSD Treatment

‘Party’ Drug Could be PTSD Treatment

March 04, 2009
Military.com|by Bryan Mitchell
If you discovered it in your kid’s room there’d be hell to pay. If it appeared in a random urinalysis, it could end your career. And if you told your friends you were considering taking it, they might think you’ve suffered a mid-life crisis.

But a South Carolina psychiatrist and a Harvard-educated researcher are looking for veterans who’ve been through hell and are willing to explore a fresh way of getting past the trauma using a drug long associated with the late-night party crowd.

Ecstasy, clinically known as MDMA and outlawed recreationally for decades, is making a gradual comeback in the medical community as therapists rediscover its therapeutic value – especially in dealing with post traumatic stress disorder.

“I heard about it and I decided to give it a try,” said a former Army Ranger who was one of two veterans who participated in a recent study on the effects of Ecstasy for treating PTSD. “It’s an extremely positive thing. I feel so lucky that I got to take part in the project.

“It’s basically like years of therapy in two or three hours. You can’t understand it until you’ve experienced it.”

Michael Mithoefer, a former emergency room physician turned psychiatrist, and Rick Doblin, who founded an organization to study the role of psychedelic drugs in society, are lobbying the Department of Veterans Affairs to allow veterans suffering from PTSD to take part in their unconventional research.

Mithoefer works with his wife, Ann, out of their Mount Pleasant, S.C., office helping victims of serious trauma overcome their anguish.

With support from Doblin, the couple successfully petitioned the Food and Drug Administration to allow them to test the effects of the drug on people who suffered from PTSD. They recently completed their first round of testing, with promising results.

“This is very exciting for us and I am very hopeful that other people can replicate the results,” Mithoefer said.

“I have to stress that this is a lot different than getting a prescription for MDMA. We don’t see it ever working like that,” Mithoefer added. “You’ll have to take it in specialized clinics. No one will get to take it home.”

In the latest round of testing, 21 patients took the drug a handful of times throughout an extended period of psychiatric treatment. It’s administered under a strict set of conditions and always under close supervision by medical professionals.

Mithoefer and Doblin are not fly-by-night crackpots promising an overnight cure of a serious condition with a magic pill.

“It’s been approved by the FDA and Harvard. We have evidence of its safety and evidence of its efficacy,” Doblin said. “We’ve shown that we can help Soldiers deal with their trauma.”

Medical, military uses

MDMA has an interesting history. Developed by the pharmaceutical firm Merck in 1912, it was widely used in private psychiatric settings in the 1950s and ‘60s. The Army experimented with it briefly in its search for mind control drugs, Doblin said.

It induces feelings of extended euphoria — hence the name ecstasy — as well as heightened awareness and a greater connection to emotions.

But it was embraced by the counter-culture of the late 1960s, and by the 1980s it was competing with cocaine as the most popular party drug. In 1985, the Drug Enforcement Administration had it classified as a “Schedule I” drug, alongside LSD and heroine.

“It was really a shame because we were only beginning to understand its potential for medical treatment” when it was criminalized, Doblin said. “With drugs like this, there is a lot of misconception. … They are like the surgeon’s knife: If they are used properly, they can heal. If they are used poorly, they can kill.”

The research project began with people suffering from PTSD who were victims of crime – rape and childhood sexual abuse were the most common – and only recently expanded to veterans.

The former Army Ranger, who spoke to Military.com on the condition of anonymity because he continues to work for private military contractors, and a former Marine officer were the first veterans to participate.

Both served in Iraq and suffered moderately severe PTSD – re-experiencing the initial trauma, sleeplessness, flashbacks and nightmares – before participating in the program.

“I didn’t want to be part of this ‘Prozac nation.’ I know some of those people and they don’t feel up or down or anything all. They aren’t really living,” the former Ranger said.

“I think it’s especially helpful for Soldiers, or someone who comes from a hard or tough background, because this is just the opposite,” the Ranger said. “It’s a soft, compassionate loving drug. You lie down, listen to some relaxing music and can really connect with your emotions.”

Both Doblin and Mithoefer said they were rebuffed by VA officials when they requested help in recruiting patients for the study. A VA spokeswoman told Military.com the department has no record of requests to treat PTSD patients with MDMA.

But the former Ranger said he’s confident the VA will explore it as an option once word of the treatment’s success spreads.

“For me, I moved past those troubles and on to other things, and I couldn’t have done it without [Mithoefer’s] help,” he said. “If it helps Soldiers like me recover, they’re going to have to look at it seriously.”

Read Full Post »

WTF! Video Proves How Stupid Americans Are!

This proves that Americans really are stupid as they show just how uneducated they really are.  We rank in the bottom half of the world when it comes to knowing geography.

Read Full Post »

WTF! World Food Shortage Getting Worse

This should have you concerned if you believe what they are saying.  I’m sure you’ve noticed that food prices continue to rise, not fall, and this may well be the reason why. MONDAY, FEBRUARY 9, 2009    *****Catastrophic Fall in 2009 Global Food Production***** – marketskeptics.com by Eric deCarbonnel   After reading about the droughts in two major agricultural countries, China and Argentina, I decided to research the extent other food producing nations were also experiencing droughts. This project ended up taking a lot longer than I thought. 2009 looks to be a humanitarian disaster around much of the world To understand the depth of the food Catastrophe that faces the world this year, consider the graphic below depicting countries by USD value of their agricultural output, as of 2006. Now, consider the same graphic with the countries experiencing droughts highlighted. The countries that make up two thirds of the world’s agricultural output are experiencing drought conditions. Whether you watch a video of the drought in China, Australia, Africa, South America, or the US, the scene will be the same: misery, ruined crop, and dying cattle. China The drought in Northern China, the worst in 50 years, is worsening, and summer harvest is now threatened. The area of affected crops has expanded to 161 million mu (was 141 million last week), and 4.37 million people and 2.1 million livestock are facing drinking water shortage. The scarcity of rain in some parts of the north and central provinces is the worst in recorded history. The drought which started in November threatens over half the wheat crop in eight provinces – Hebei, Shanxi, Anhui, Jiangsu, Henan, Shandong, Shaanxi and Gansu. Henan China’s largest crop producing province, Henan, has issued the highest-level drought warning. Henan has received an average rainfall of 10.5 millimeters since November 2008, almost 80 percent less than in the same period in the previous years. The Henan drought, which began in November, is the most severe since 1951. Anhui Anhui Province issued a red drought alert, with more than 60 percent of the crops north of the Huaihe River plagued by a major drought. Shanxi Shanxi Province was put on orange drought alert on Jan. 21, with one million people and 160,000 heads of livestock are facing water shortage. Jiangsu Jiangsu province has already lost over one fifth of the wheat crops affected by drought. Local agricultural departments are diverting water from nearby rivers in an emergency effort to save the rest. Hebei Over 100 million cubic meters of water has been channeled in from outside the province to fight Hebei’s drought. Shaanxi 1.34 million acres of crops across the bone-dry Shanxi province are affected by the worsening drought. Shandong Since last November, Shandong province has experienced 73 percent less rain than the same period in previous years, with little rainfall forecast for the future. Relief efforts are under way. The Chinese government has allocated 86.7 billion yuan (about $12.69 billion) to drought-hit areas. Authorities have also resorted to cloud-seeding, and some areas received a sprinkling of rain after clouds were hit with 2,392 rockets and 409 cannon shells loaded with chemicals. However, there is a limit to what can be done in the face of such widespread water shortage. As I have previously written, China is facing hyperinflation, and this record drought will make things worse. China produces 18% of the world’s grain each year. Australia Australia has been experiencing an unrelenting drought since 2004, and 41 percent of Australia’s agriculture continues to suffer from the worst drought in 117 years of record-keeping. The drought has been so severe that rivers stopped flowing, lakes turned toxic, and farmers abandoned their land in frustration: A) The Murray River stopped flowing at its terminal point, and its mouth has closed up. B) Australia’s lower lakes are evaporating, and they are now a meter (3.2 feet) below sea level. If these lakes evaporate any further, the soil and the mud system below the water is going to be exposed to the air. The mud will then acidify, releasing sulfuric acid and a whole range of heavy metals. After this occurs, those lower lake systems will essentially become a toxic swamp which will never be able to be recovered. The Australian government’s only options to prevent this are to allow salt water in, creating a dead sea, or to pray for rain. For some reason, the debate over climate change is essentially over in Australia. The United States California California is facing its worst drought in recorded history. The drought is predicted to be the most severe in modern times, worse than those in 1977 and 1991. Thousands of acres of row crops already have been fallowed, with more to follow. The snowpack in the Northern Sierra, home to some of the state’s most important reservoirs, proved to be just 49 percent of average. Water agencies throughout the state are scrambling to adopt conservation mandates. Texas The Texan drought is reaching historic proportion. Dry conditions near Austin and San Antonio have been exceeded only once before—the drought of 1917-18. 88 percent of Texas is experiencing abnormally dry conditions, and 18 percent of the state is in either extreme or exceptional drought conditions. The drought areas have been expanding almost every month. Conditions in Texas are so bad cattle are keeling over in parched pastures and dying. Lack of rainfall has left pastures barren, and cattle producers have resorted to feeding animals hay. Irreversible damage has been done to winter wheat crops in Texas. Both short and long-term forecasts don’t call for much rain at all, which means the Texas drought is set to get worse. Augusta Region (Georgia, South Carolina, North Carolina) The Augusta region has been suffering from a worsening two year drought. Augusta’s rainfall deficit is already approaching 2 inches so far in 2009, with January being the driest since 1989. Florida Florida has been hard hit by winter drought, damaging crops, and half of state is in some level of a drought. La Niña likely to make matters worse Enough water a couple of degrees cooler than normal has accumulated in the eastern part of the Pacific to create a La Niña, a weather pattern expected to linger until at least the spring. La Niña generally means dry weather for Southern states, which is exactly what the US doesn’t need right now. South America Argentina The worst drought in half a century has turned Argentina’s once-fertile soil to dust and pushed the country into a state of emergency. Cow carcasses litter the prairie fields, and sun-scorched soy plants wither under the South American summer sun. Argentina’s food production is set to go down a minimum of 50 percent, maybe more. The country’s wheat yield for 2009 will be 8.7 million metric tons, down from 16.3 million in 2008. Concern with domestic shortages (domestic wheat consumption being approximately 6.7 million metric ton), Argentina has granted no new export applications since mid January. Brazil Brazil has cut its outlook for the crops and will do so again after assessing damage to plants from desiccation in drought-stricken regions. Brazil is the world’s second-biggest exporter of soybeans and third-largest for corn.  Brazil’s numbers for corn harvesting: Harvested in 2008: 58.7 million tons January 8 forecast: 52.3 million tons February 6 forecast: 50.3 metric tons (optimistic) Harvested in 2009: ??? Paraguay Severe drought affecting Paraguay’s economy has pushed the government to declare agricultural emergency. Crops that have direct impact on cattle food are ruined, and the soy plantations have been almost totally lost in some areas. Uruguay Uruguay declared an “agriculture emergency” last month, due to the worst drought in decades which is threatening crops, livestock and the provision of fresh produce. The a worsening drought is pushing up food and beverage costs causing Uruguay’s consumer prices to rise at the fastest annual pace in more than four years in January. Bolivia There hasn’t been a drop of rain in Bolivia in nearly a year. Cattle dying, crops ruined, etc… Chile The severe drought affecting Chile has caused an agricultural emergency in 50 rural districts, and large sectors of the economy are concerned about possible electricity rationing in March. The countries woes stem from the “La Niña” climate phenomenon which has over half of Chile dangling by a thread: persistently cold water in the Pacific ocean along with high atmospheric pressure are preventing rain-bearing fronts from entering central and southern areas of the country. As a result, the water levels at hydroelectric dams and other reservoirs are at all-time lows. Horn of Africa Africa faces food shortages and famine. Food production across the Horn of Africa has suffered because of the lack of rainfall. Also, half the agricultural soil has lost nutrients necessary to grow plant, and the declining soil fertility across Africa is exacerbating drought related crop losses. Kenya Kenya is the worst hit nation in the region, having been without rainfall for 18 months. Kenya needs to import food to bridge a shortfall and keep 10 million of its people from starvation. Kenya’s drought suffering neighbors will be of little help. Tanzania A poor harvest due to drought has prompted Tanzania to stop issuing food export permits. Tanzania has also intensified security at the border posts to monitor and prevent the export of food. There are 240,000 people in need of immediate relief food in Tanzania. Burundi Crops in the north of Burundi have withered, leaving the tiny East African country facing a severe food shortage Uganda Severe drought in northeastern Uganda’s Karamoja region has the left the country on the brink of a humanitarian catastrophe. The dry conditions and acute food shortages, which have left Karamoja near starvation, are unlikely to improve before October when the next harvest is due. South Africa South Africa faces a potential crop shortage after wheat farmers in the eastern part of the Free State grain belt said they were likely to produce their lowest crop in 30 years this year. South Africans are “extremely angry” that food prices continue to rise. Other African nations suffering from drought in 2009 are: Malawi, Zambia, Swaziland, Somalia, Zimbabwe, Mozambique, Tunisia, Angola, and Ethiopia. Middle East and Central Asia The Middle East and Central Asia are suffering from the worst droughts in recent history, and food grain production has dropped to some of the lowest levels in decades. Total wheat production in the wider drought-affected region is currently estimated to have declined by at least 22 percent in 2009. Owing to the drought’s severity and region-wide scope, irrigation supplies from reservoirs, rivers, and groundwater have been critically reduced. Major reservoirs in Turkey, Iran, Iraq, and Syria are all at low levels requiring restrictions on usage. Given the severity of crop losses in the region, a major shortage of planting seed for the 2010 crop is expected. Iraq In Iraq during the winter grain growing period, there was essentially no measurable rainfall in many regions, and large swaths of rain-fed fields across northern Iraq simply went unplanted. These primarily rain-fed regions in northern Iraq are described as an agricultural disaster area this year, with wheat production falling 80-98 percent from normal levels. The USDA estimates total wheat production in Iraq in 2009 at 1.3 million tons, down 45 percent from last year. Syria Syria is experienced its worst drought in the past 18 years, and the USDA estimates total wheat production in Syria in 2009 at 2.0 million tons, down 50 percent from last year. Last summer, the taps ran dry in many neighborhoods of Damascus and residents of the capital city were forced to buy water on the black market. The severe lack of rain this winter has exacerbated the problem. Afghanistan Lack of rainfall has led Afghanistan to the worst drought conditions in the past 10 years. The USDA estimates 2008/09 wheat production in Afghanistan at 1.5 million tons, down 2.3 million or 60 percent from last year. Afghanistan normally produces 3.5-4.0 million tons of wheat annually. Jordan Jordan’s persistent drought has grown worse, with almost no rain falling on the kingdom this year. The Jordanian government has stopped pumping water to farms to preserve the water for drinking purposes. Other Middle Eastern and Central Asian nations suffering from drought in 2009 are: The Palestinian Territories, Lebanon, Israel, Bangladesh, Myanmar, India, Tajikistan, Turkmenistan, Thailand, Nepal, Pakistan, Turkey, Kyrgyzstan, Uzbekistan, Cyprus, and Iran. Lack of credit will worsen food shortage A lack of credit for farmers curbed their ability to buy seeds and fertilizers in 2008/2009 and will limit production around the world. The effects of droughts worldwide will also be amplified by the smaller amount of seeds and fertilizers used to grow crops. Low commodity prices will worsen food shortage The low prices at the end of 2008 discouraged the planting of new crops in 2009. In Kansas for example, farmers seeded nine million acres, the smallest planting for half a century. Wheat plantings this year are down about 4 million acres across the US and about 1.1 million acres in Canada. So even discounting drought related losses, the US, Canada, and other food producing nations are facing lower agricultural output in 2009. Europe will not make up for the food shortfall Europe, the only big agricultural region relatively unaffected by drought, is set for a big drop in food production. Due to the combination of a late plantings, poorer soil conditions, reduced inputs, and light rainfall, Europe’s agricultural output is likely to fall by 10 to 15 percent. Stocks of foodstuff are dangerously low Low stocks of foodstuff make the world’s falling agriculture output particularly worrisome. The combined averaged of the ending stock levels of the major trading countries of Australia, Canada, United States, and the European Union have been declining steadily in the last few years: 2002-2005: 47.4 million tons 2007: 37.6 million tons 2008: 27.4 million tons These inventory numbers are dangerously low, especially considering the horrifying possibility that China’s 60 million tons of grain reserves doesn’t actually exists. Global food Catastrophe The world is heading for a drop in agricultural production of 20 to 40 percent, depending on the severity and length of the current global droughts. Food producing nations are imposing food export restrictions. Food prices will soar, and, in poor countries with food deficits, millions will starve. The deflation debate should end now The droughts plaguing the world’s biggest agricultural regions should end the debate about deflation in 2009. The demand for agricultural commodities is relatively immune to developments in the business cycles (at least compared to that of energy or base metals), and, with a 20 to 40 percent decline in world production, already rising food prices are headed significantly higher. In fact, agricultural commodities NEED to head higher and soon, to prevent even greater food shortages and famine. The price of wheat, corn, soybeans, etc must rise to a level which encourages the planting of every available acre with the best possible fertilizers. Otherwise, if food prices stay at their current levels, production will continue to fall, sentencing millions more to starvation. Competitive currency appreciation Some observers are anticipating “competitive currency devaluations” in addition to deflation for 2009 (nations devalue their currencies to help their export sector). The coming global food shortage makes this highly unlikely. Depreciating their currency in the current environment will produce the unwanted consequence of boosting exports—of food. Even with export restrictions like those in China, currency depreciation would cause the outflow of significant quantities of grain via the black market. Instead of “competitive currency devaluations”, spiking food prices will likely cause competitive currency appreciation in 2009. Foreign exchange reserves exist for just this type of emergency. Central banks around the world will lower domestic food prices by either directly selling off their reserves to appreciate their currencies or by using them to purchase grain on the world market. Appreciating a currency is the fastest way to control food inflation. A more valuable currency allows a nation to monopolize more global resources (ie: the overvalued dollar allows the US to consume 25% of the world’s oil despite having only 4% of the world’s population). If China were to selloff its US reserves, its enormous population would start sucking up the world’s food supply like the US has been doing with oil. On the flip side, when a nation appreciates its currency and starts consuming more of the world’s resources, it leaves less for everyone else. So when china appreciates the yuan, food shortages worldwide will increase and prices everywhere else will jump upwards. As there is nothing that breeds social unrest like soaring food prices, nations around the world, from Russia, to the EU, to Saudi Arabia, to India, will sell off their foreign reserves to appreciate their currencies and reduce the cost of food imports. In response to this, China will sell even more of its reserves and so on. That is competitive currency appreciation. When faced with competitive currency appreciation, you do NOT want to be the world’s reserve currency. The dollar is likely to do very poorly as central banks liquidate trillions in US holdings to buy food and appreciate their currencies.

Read Full Post »