Quantitative Easing Is Causing Food Prices to Skyrocket

Commodities / Food Crisis Jan 22, 2011 - 02:33 PM
By: Washingtons_Blog

As I've previously noted, interest rates have risen both times after the Fed implemented quantitative easing.

Graham Summers points out that food prices have also skyrocketed both times:

In case you’ve missed it, food riots are spreading throughout the developing world Already Tunisia, Algeria, Oman, and even Laos are experiencing riots and protests due to soaring food prices.

As Abdolreza Abbassian, chief economist at the UN’s Food and Agriculture Organization (FAO), put it, “We are entering a danger territory.