Thanks to recent skyrocketing inflation, the citizens could no longer afford to eat.
The middle class was starting to starve.
There's an old saying that's used to define the temperament of oppressed people: “Bread and Circuses”...
It dates back to just before the fall of the Roman Empire in 100 A.D., and is derived from the observation that people will put up with nearly all sorts of tyranny and injustice, so long as the mob has food and entertainment.
What's happening across the world is a result of their food becoming too expensive.
Feeling the same pain, just days after the first protests in Tunisia, the riot fever spread to Algeria — where protesters hit the streets, carrying signs that read “We Want Sugar!”
Next to fall, for the same reasons, was Egypt... Then Libya.
You get the point. You hear about it every day.
But what many in the mainstream press fail to realize, is that these protests and riots aren't simply because of a harsh dictator.
Anyone over the age of 30 knows that people like Gaddafi and Mubarak have been in power for decades.
No — what's pushing countries in the Middle East and North Africa over the line is the skyrocketing cost of food, thanks to rampant inflation.
And it's not just the prices of food, oil, gold, silver, and other popular commodities, either...
It's all of them. And it's world-wide.
Over the past year...
Corn is up 76%
Wheat is up 44%
Soybeans are up 24%
Sugar is up more than 55%
And the list goes on...
It's a similar story right now in India, as thousands risk their lives and take to the streets to show their disgust against rising food prices.
NO OTHER FORM OF MONEY WAS ACCEPTED.
The people painfully realized that gold, unlike fiat money, couldn't be printed out of thin air.
The country was Zimbabwe. And their run of hyper-inflation was hardly an isolated incident. Just take a look at these other countries that experienced the same pains in recent years...
Make no mistake — it can and will happen to U.S, too.
Other countries across the world already see it coming. They know that in order to even keep the government running for another day, we're already committed to a vicious cycle of printing our way to oblivion.
The last time we saw a serious inflationary crisis looming was in 1980.
Back then, Fed Chairman Paul Volcker was able to keep it from getting too out of control by raising the interest rates to an astonishing 21.5%.
Of course, back then U.S were also the world's largest creditor nation. Today, they're currently the largest debtor nation.
Related:
The Illusion of Wealth
The middle class was starting to starve.
There's an old saying that's used to define the temperament of oppressed people: “Bread and Circuses”...
It dates back to just before the fall of the Roman Empire in 100 A.D., and is derived from the observation that people will put up with nearly all sorts of tyranny and injustice, so long as the mob has food and entertainment.
What's happening across the world is a result of their food becoming too expensive.
Feeling the same pain, just days after the first protests in Tunisia, the riot fever spread to Algeria — where protesters hit the streets, carrying signs that read “We Want Sugar!”
Next to fall, for the same reasons, was Egypt... Then Libya.
You get the point. You hear about it every day.
But what many in the mainstream press fail to realize, is that these protests and riots aren't simply because of a harsh dictator.
Anyone over the age of 30 knows that people like Gaddafi and Mubarak have been in power for decades.
No — what's pushing countries in the Middle East and North Africa over the line is the skyrocketing cost of food, thanks to rampant inflation.
And it's not just the prices of food, oil, gold, silver, and other popular commodities, either...
It's all of them. And it's world-wide.
Over the past year...
Corn is up 76%
Wheat is up 44%
Soybeans are up 24%
Sugar is up more than 55%
And the list goes on...
It's a similar story right now in India, as thousands risk their lives and take to the streets to show their disgust against rising food prices.
NO OTHER FORM OF MONEY WAS ACCEPTED.
The people painfully realized that gold, unlike fiat money, couldn't be printed out of thin air.
The country was Zimbabwe. And their run of hyper-inflation was hardly an isolated incident. Just take a look at these other countries that experienced the same pains in recent years...
Make no mistake — it can and will happen to U.S, too.
Other countries across the world already see it coming. They know that in order to even keep the government running for another day, we're already committed to a vicious cycle of printing our way to oblivion.
The last time we saw a serious inflationary crisis looming was in 1980.
Back then, Fed Chairman Paul Volcker was able to keep it from getting too out of control by raising the interest rates to an astonishing 21.5%.
Of course, back then U.S were also the world's largest creditor nation. Today, they're currently the largest debtor nation.
Related:
The Illusion of Wealth
