Archive
Cheap food may be a thing of the past
U.S. grain prices should stay unrelentingly high this year, according to a Reuters poll, the latest sign that the era of cheap food has come to an end.
U.S. corn, soybeans and wheat prices — which surged by as much has 50 percent last year and hit their highest levels since mid-2008 — will dip by at most 5 percent by the end of 2011, according to the poll of 16 analysts.
The forecasts suggest no quick relief for nations bedeviled by record high food costs that have stoked civil unrest. It means any extreme weather event in a grains-producing part of the world could send prices soaring further.
The expectations may also strengthen importers’ resolve to build bigger inventories after a year in which stocks of corn and soybeans in the United States — the world’s top exporter — dwindled to their lowest level in decades.
Story: Global food chain stretched to the limit Read more…
Hundreds of Russians protest against Putin
MOSCOW (AP) — About 500 people demonstrated in a central Moscow square on Monday to demand the ouster of Prime Minister Vladimir Putin and his “rule of thieves.”
The rally took place peacefully, but police detained a separate group of 20 opposition activists nearby. About 60 protesters also were detained in St. Petersburg, one of a number of other cities where demonstrations were held.
Prominent opposition leader Boris Nemtsov, who was arrested and jailed for 15 days following a similar demonstration a month ago, kept up his assault on Russia’s longtime leader as he addressed the protesters on Moscow’s Triumph Square.
He compared Putin to Egyptian President Hosni Mubarek, who is facing mass unrest after 30 years in power.
“Please, someone tell me how our Read more…
Muslim Brotherhood: ‘Prepare Egyptians for war with Israel’
A leading member of the Muslim Brotherhood in Egypt told the Arabic-language Iranian news network Al-Alam on Monday that he would like to see the Egyptian people prepare for war against Israel, according to the Hebrew-language business newspaper Calcalist.
Muhammad Ghannem reportedly told Al- Alam that the Suez Canal should be closed immediately, and that the flow of gas from Egypt to Israel should cease “in order to bring about the downfall of the Mubarak regime.” He added that “the people should be prepared for war against Israel,” saying the world should understand that “the Egyptian people are prepared for anything to get rid of this regime.”
Ghannem praised Egyptian soldiers deployed by President Hosni Mubarak to Egyptian cities, saying they “would not kill their brothers.” He added that Washington was forced to abandon plans to help Mubarak stay in power after “seeing millions head for the streets.”
Ignoring China’s Military Buildup At Our Own Peril
‘Something big’ transferred to Gaza Strip
Aaron Klein
JERUSALEM – Egypt and Israel have information a large quantity of weapons, including new and sophisticated firepower, was smuggled from Egypt into the Hamas-controlled Gaza Strip in the last two days, according to informed Middle East security officials.
Israeli security officials fear a growing state of anarchy exists along the Gaza-Egypt border, with Islamist groups there taking advantage of the chaos in Egypt amid mass protests threatening the regime of President Hosni Mubarak. Egyptian security forces have been focused largely on quelling the riots.
“Something big was brought into the Gaza Strip,” said an informed security official.
The official said it was not known yet exactly what was transferred into Gaza, but he speculated it may have been a large quantity of antiaircraft missiles.
The Sinai borders the Gaza Strip as well as Israel’s southern border with Egypt.
Israeli officials say Israel agreed to allow the Egyptian army to move two battalions, or about 800 soldiers, into the Sharm el-Sheikh area on Sinai’s southern tip, far from Israel.
Japan volcano erupts again with massive blast of gas, ash and rocks
 |
| Dome of lava is seen at a eruptive crater at Shinmoedake peak between Miyazaki and Kagoshima prefectures January 31, 2011. More than 1,000 people in southern Japan have been urged to evacuate as a volcano picked up its activities, spewing ashes and small rocks into air and disrupting airline operations, a municipal official said on Monday. (Xinhua/Reuters Photo) |
TOKYO, Feb. 1 (Xinhua) — A volcano located on a mountain range on the island of Kyushu, southwest Japan, erupted for the second time Tuesday in an explosion local officials said was five times bigger than the one last Wednesday.
The eruption sent an enormous plume of gas, ash and rocks shooting as high as 2,000 meters into the air and the blast smashed windows in hotels and offices as far away as eight kilometers, local reports said.
As yet no deaths have been reported as a result of the eruption, although one women was cut by shattered glass and felled trees caused by the blast have been hindering traffic in the region, local officials said.
Following the latest blast, the Japan Meteorological Agency raised the alert level from Read more…
40,000 birds culled in Japan at farm which tested positive for bird flu
Nearly 40,000 chickens were killed Monday at a poultry farm located in Japan after tests confirmed dead chickens found on Sunday tested positive for bird-flu.
The farm located in the southern region of the country in Miyazaki prefecture on the island of Kyushu was the site of where 90 chickens were found dead.
The incident marked the sixth outbreak of the deadly virus in the region and ninth in the country.
Further tests will be conducted to ascertain whether the virus is the H5N1 strain which has caused the most disease and death in humans or if it was a less virulent strain of the avian flu, such as H5N2.
In November, avian flu was found in the western prefecture of Shimane and also has been confirmed in wild birds across the country.
Over the last few days nearly 600,000 chickens were killed in Miyazaki in government efforts to control the disease.
“It’s spreading quickly,” said Koji Saito a spokesman for the Japanese Agriculture Ministry in charge of sanitation of livestock farming in Miyazaki Prefecture.
Japanese Agriculture Ministry officials are reporting the virus won’t affect humans if meat and eggs consumed from infected birds is fully cooked.
This flu season there haven’t been any human infections according to authorities. Typically bird to human infections is spread largely by direct contact with infected birds.
China should increase precious metals
Sungwoo Park
SEOUL – China should increase its gold and silver reserves, the Economic Information Daily reported on Monday, citing an interview with China’s central bank adviser Xia Bin.
Increasing gold reserves at the “appropriate time” is in line with the strategy of internationalizing the yuan, the report cited Xia as saying. “Related departments” should employ a “buy in the dip” strategy over a very long period of time, Xia said.
Bullion soared nearly 30 percent in 2010, advancing for the 10th year, as the dollar dropped and investors sought a store of value amid currency debasement. China is allowing greater use of its currency for cross-border transactions, seeking to reduce reliance on the dollar.
The report is “a positive factor for gold prices in the mid-and-long term,” Hwang II Doo, a senior trader at Seoul-based Korea Exchange Bank Futures Co, said on Monday. Still “it didn’t have immediate impact on prices as gold’s gain has more to do with the unrest in Egypt at the moment.”
Total gold consumption in China, the second-largest buyer, may gain 15 percent in the first-half, fueled by growing demand for alternative investments and a hedge against inflation, the China Gold Association said last week.
Imports of gold by China jumped almost five-fold in the first 10 months of last year from the entire amount shipped in 2009, the Shanghai Gold Exchange has said. Shipments were 209 metric tons compared with 45 tons for all of 2009, said exchange Chairman Shen Xiangrong.
The country increased gold reserves by 454 tons to 1,054 tons since 2003, the State Administration of Foreign Exchange said in April 2009. The metal only accounts for 1.6 percent of the nation’s reserves held by the People’s Bank of China, according to the World Gold Council. China doesn’t regularly publish gold-trade figures and rarely comments on its reserves.
Bullion for immediate delivery gained as much as 0.7 percent to $1,346.27 an ounce, and was at $1,339.25 at 12:53 pm in Seoul. The price rose 2.5 percent on Jan 28, the biggest intra-day increase since Nov 4 as escalating tensions in Egypt fanned concern that unrest may spread to other parts of the Middle East, increasing demand for an investment haven.
Australia Cyclone Yasi upgraded to Category 5
Ian Hitchcock / Getty Images
CAIRNS, Australia — A powerful cyclone bearing down on Australia was upgraded to a maximum-strength Category 5 storm, with the likelihood of serious damage and risk to life.
“This is the most severe, most catastrophic storm that has ever hit our coast,” Anna Bligh, premier of Queensland State, told the Australian Broadcasting Corp. “We’ve seen a number of worst case scenarios come together.”
“This impact is likely to be more life threatening than any experienced during recent generations,” Queensland disaster officials added in an updated warning.
Yasi is expected to make landfall overnight on the Queensland coast between Cairns and Innisfail. Read more…
TSA limits private screeners to 16 U.S. airports
Transportation Security Administration Chief John Pistole said over the weekend that the agency will limit private screeners to just 16 U.S. airports.
D.C., Washington, United States (AHN) – Transportation Security Administration Chief John Pistole said over the weekend that the agency will limit private screeners to just 16 U.S. airports.
Pistole explained the policy that the agency does not see any advantage to the use of private screeners.
The Screening Partnership Program permitted gateways to replace government screeners with private contractors who are attired in similar uniforms as those worn by TSA personnel, follow TSA standards and are supervised by the agency.
The TSA previously adopted a neutral standard toward private screeners, but changed its stand after more airports opted out of tapping private groups because of the public furor created by the TSA’s enhanced pat downs, criticized by many air travelers as intrusive. Read more…
![[Most Recent Quotes from www.kitco.com]](https://i0.wp.com/www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](https://i0.wp.com/www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
crisisboom
CRISISBOOM 
You must be logged in to post a comment.