Higher Food Prices - Special look at DROOY, IAG, Gold, & Silver

Folks,

Since the beginning of creation, gold and silver have been true money. The unbacked paper IOUs are of recent vintage. Since 1913, we have had the privately owned Federal Reserve System which has debased our currency in violation of the Constitution and God's Law-Word against using unequal weights of products and money in commerce. It is an abomination to God. Thus, we are deep into violation of God's Law which applies to all individuals and governments. Thus, He is pushing us to bring us back to Him.

Omaha World Herald:
Get ready for higher food prices
Warnings of higher food prices headed for American supermarkets and restaurants were swallowed easily across much of farm country Wednesday.
The big gulp came when the U.S. Department of Agriculture reported that global demand had pushed U.S. corn supplies to their lowest point in 15 years.
The price of corn, which has doubled over the past six months, affects most food products in supermarkets. It's used to feed the cattle, hogs and chickens that fill the meat aisles.
It is the main ingredient in Cap'n Crunch and Doritos. Turned into syrup, it sweetens most soft drinks and many foods. Maybe too much corn is wasted on gasoline substitute. While the government statistics show very little inflation, we must remember that they do not include food and energy where the inflation has been fairly severe. HERE.

Ron Paul on Zero Hedge:
Ron Paul Says Next US Crash Will Be Comparable To That Of Soviet Union, Claims QE2 Is "Total Failure" And Fed Is A "Central Planning Cartel" Well worth a read HERE.

King World News:
James Turk Possible Hyperinflation

King World News has received word from James Turk that silver is in extreme backwardation.  Turk stated, “There is a huge story that is brewing.  Silver is in backwardation to 2015, which is 13-cents cheaper than spot.  This is unbelievable.  Money does not go into backwardation except ‘in extremis’!” There is a high probability of hyperinflation before most people believe. After all, there have been trillions of dollars pumped into the economies around the world. Read it HERE.

Mine Web: 

China to drive gold toward $2,000 by 2015 - David Hale

While inflation risks remain benign in most of the developed world, what happens in the developing world and, in particular China is going to be crucial for commodities prices and gold in particular. Could be since they are accumulating gold from their mining industry and by imports. It seems that they have a plan to surpass the amount of gold held by the U.S. Remember the saying, "He who holds the gold rules." HERE. 

 

Mine Web report on DRD Gold (DROOY) one of my core holdings:

DRDGold reports return to quarterly profit 

The South African gold producer said its numbers were helped by a 6% rise in production and added it expects now to see steady results ahead. South Africans have had a struggle of late, and DROOY has suffered. HERE.

 

Mine Web on another of my core holdings:

IAMGOLD reports 16.4 mn ounces of proven and probable gold reserves 

IAMGOLD CEO Steve Letwin said the company’s Westwood gold development project in the Abitibi region of Quebec is expected to start production in early 2013. HERE. 

Miners from Scottrade:

 

 Currencies from KitCo:

 

Some Prices: FVITF 4.3656; BULM 0.99; OLVRF 1.3054; HHWW 1.3054; REMX 34.3801; DOW off 4.73 to 12224.71; SPX off 0.75 to 1321.15; Gold up 3.50 to 1367; Silver up0.02 to 30.23.

Best to each, Doug