Comments on Market Skeptics: USDA Deliberately Misleading Investors To Hide Loo...

Eric, today the UN announced that for first time ...

2009-06-19T16:33:56.670-07:00

Eric,

today the UN announced that for first time in history peopple with hunger will reach the one billion barrier
Check

http://www.agfood.net/2009/06/por-primera-vez-en-la-historia-habria.html

Jeff Burton said... I e-mailed you an article on ...

2009-06-18T10:08:06.434-07:00

Jeff Burton said...
I e-mailed you an article on a potentially devastating wheat disease that is making its way around the world. Wonder what you thought of it.

I saw your article about the Ug99 fungus (wheat rust), and it is important. Writing about it is on my long todo list.

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Anonymous said...
To say the USDA is intentionally over-estimating grain output would require we look at the chain of paperwork between them and the companies they work for. the companies are never going to say "we don't have enough"; they lose customers. They're going to say "we had this problem so our estimates are off and prices are up". That's business.

If the discrepencies between USDA estimates and reality were small, they could be explained away by "that's business". But what about the USDA's 11 MMT estimate for Argentina? How can the USDA predict a 33% increase in Argentina's wheat crop despite planted acreage being down almost 40%? I am positive USDA officials know their estimates for Argentina are bogus. The "the chain of paperwork" is irrelevant: what matters is that by publishing information they know to be false, the USDA is deliberately deceiving investors.

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Anonymous said...
if wheat shortage is real, price will go up and benefit US.

.5 percent of US gdp is aggriculture. Sure, that .5 percent will do well if the price of wheat goes up, but the other 99.5 percent (especially Wall Street) won't.

Why would US supress the price of wheat if they will get more money by let it's price soars??

If they let the price of wheat (food) soar it will create inflation fears and demand for gold. Countries around the world will be under pressure to sell their dollar reserves to lower the price of wheat imports and contain their domestic inflation (preventing their people from starving).

Letting wheat skyrocket would put huge downward pressure on the dollar, and that is my guess why the USDA is overstating global wheat production.

Eric and everybody else: The warning about a drama...

2009-06-18T06:31:17.975-07:00

Eric and everybody else: The warning about a dramatic fall in food production are not new. I remember that early last year, thoughtful observers like Don Coxe have warned about a looming food shortage in wheat and rice as a result of the dry weather. These warnings turned out to be premature because the weather turned around and the harvest was quite good in the end.

However, the potential for a dramatic decline in food production is definitely there - Eric is right insisting on that point.

I think if we all would eat 30% less for an extended period of time, the overall effect would be beneficial. It is a medical fact that we eat way too much (obesity). Reducing our food consumption would not be a bad idea.

@Anonymous The fact that you can exploit they're d...

2009-06-18T06:09:51.669-07:00

@Anonymous
The fact that you can exploit they're distorted prices doesn't make it a good system. Sooner or later the manipulation will fail and the price is payed. There is no free lunch, someone has to pay, and a government cannot change that basic law off nature.

@ Luigi, If so, why not suppress everything else?...

2009-06-18T02:48:58.187-07:00

@ Luigi,

If so, why not suppress everything else? Everything else also consumed by hundreds of millions of people..

If everything's price is low, people's live will be great.

And, if so, isn't government suppressing the price of gold & silver also for the goodness of people? So hundreds of million of human being can buy gold & silver cheaply...??

Dear anonymous, We're talking about hundreds of m...

2009-06-18T01:49:17.159-07:00

Dear anonymous,

We're talking about hundreds of millions human lives here. This is going to end up too sad, I fear.

>Why would US supress the price of >wheat if they will get more money >by let it's price soars??

But what's the purpose of faking data? US sell whe...

2009-06-17T21:40:16.998-07:00

But what's the purpose of faking data? US sell wheat to others. if wheat shortage is real, price will go up and benefit US.

Why would US supress the price of wheat if they will get more money by let it's price soars??

A spokesman for the U.S. Bureau of Public Debt sai...

2009-06-17T17:19:36.115-07:00

A spokesman for the U.S. Bureau of Public Debt said the recently seized $134 billion of U.S. Treasury Bonds in Italy are fakes, according to reports from Bloomberg.

Stephen Meyerhardt said, "They're clearly fakes. That's beyond the fact that the face value is far beyond what's out there"

U.S. records shows that there are an estimated $105.4 billion in bearer bonds that have yet to be surrendered, with most maturing more than five years ago. The Treasury stopped issuing bearer bonds in 1982.

Studies look at books, books are made of paper. ...

2009-06-17T07:59:26.500-07:00

Studies look at books, books are made of paper.

Grain is tracked with paper; it can be edited.

To say the USDA is intentionally over-estimating grain output would require we look at the chain of paperwork between them and the companies they work for. the companies are never going to say "we don't have enough"; they lose customers. They're going to say "we had this problem so our estimates are off and prices are up". That's business.

Eric has anyone looked at the USDA prior record re...

2009-06-17T07:54:08.989-07:00

Eric has anyone looked at the USDA prior record regarding predictions? Are they generally accurate?

I e-mailed you an article on a potentially devasta...

2009-06-17T07:03:51.363-07:00

I e-mailed you an article on a potentially devastating wheat disease that is making its way around the world. Wonder what you thought of it.