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Wednesday, January 19, 2011

Federal Reserve's Dollar Debasement/Inflation Scheme Hits Emerging Markets

Marc Faber, founder of the Gloom, Boom and Doom Report says Fed generated inflation, especially in food and energy prices, will hit the low income populations of emerging markets much harder than the consumers of the developed markets in the US and Europe. This is an unintended consequence of the Fed's money printing campaign. However, you can bet there will be some blow back on the US consumers. Printing money is not a free lunch.

US, Europe Better Bets as Inflation Hits: Marc Faber --

Escalating food and energy prices will take a greater toll in poorer countries such as China and India, the author of the "Gloom, Boom and Doom" report said in a CNBC interview.

"We have money printing around the world and particularly in the US and that has led to very high food inflation and inflation in energy prices," Faber said. "In low-income countries like China, India, Vietnam and so forth, energy and food account for a much larger portion of personal disposable income than in the United States."

"So these countries are suffering from basic high inflation, and that reduces the purchasing power of people. So I think the monetary authorities in emerging countries are going to have to tighten or let inflation accelerate, both of which are not particularly good for equities," he said...

Jim Rogers says "go long cotton" because paper money is made of cotton...

Gold ‘Overdue’ for Drop, Rice Will Gain, Rogers Says -- Agricultural commodities are “going to boom” as demand increases in developing markets, primarily in Asia, he said. All commodities will be supported by the weakening dollar, which is losing value because Federal Reserve Chairman Ben S. Bernanke is “printing money” by buying Treasuries in an effort to shore up the U.S. economy, Rogers said.
“Paper money is made of cotton, and I’m long cotton, by the way,” Rogers said. “One reason I’m long cotton is because Dr. Bernanke is out there running the printing presses as fast as he can.”...
Record Food Prices Causing Africa Riots Stoke U.S. Farm Economy

Seeking Alpha:
Why Are Commodity Prices Rising? Let Me Count the Ways -- prices took off again after Fed Chairman Ben Bernanke's August of 2010 announcement that QE2 was on the way. Prices have continued higher since then, with the Fed officially announcing QE2 in November of 2010...

The Effect Of Rising Food Prices On Political Stability

Calculated Risk

MishTalk - Mike Shedlock

Paul Krugman - NY Times

The Big Picture - Barry Ritholtz

naked capitalism - Yves Smith

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Washington's Blog

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Paper Economy

The Daily Reckoning - Australia