Booms, Busts, and Food Prices

While silver and gold are a good way to insure your family’s financial safety, you cannot eat silver or gold. They may be listed on the ‘commodities market’ but they are still a medium of exchange. They are not commodities in and of themselves. Food, on the other hand is.

Food can be directly consumed. It can be used directly or it can be used as a medium of exchange for something else. It is very versatile. So too are things like medicine, clothing, and gasoline. Yet, you cannot eat them either.Their worth is limited. Food is the sustaining commodity of life. Without it everything else is worthless.

In his latest commentary, Gary North notes, “The price of food is rising not just in U.S. dollar terms, but in terms of all currencies. This is not a U.S. phenomenon only. This is international.”

Food prices are rising and will continue to rise. The end result, chaos, and a move for a government takeover of the more basic necessities of life, food.

Read this week’s post @ Lew Rockwell.com

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