No CBDC Without Total Control of the Food Supply.

Friday, May 26, 2023, Manacos 64, Home of Alternative Economics, and Contrarium Views. Today we're gonna look at food and money. Yes, I usually just talk about money, economics, currencies, markets, but this I think is really important. And we're gonna look at why CBDCs will fail unless the powers that be control every acre of agricultural land out there, they control all the food in the world. So

that's what we're gonna look into. Before I do though, I just like to let you know, Simon Tempo contacted me yesterday. He's Oliver's brother. They run golden investments here in the UK. Probably arguably the oldest bullion dealer in the city of London, very reputable. They've been around since 1981. Well, they have a special on one ounce old Krugerrands. It's gonna probably be there for about a

the best time to buy in my opinion. I'm not telling you to do it. I did buy a few gold ounces. Yeah, about a week ago, gold was a little higher, but it was still had come off. I always find that when it feels painful, if you're fortunate enough to be able to exchange some spare feed currency for real money, I think it's a good idea.

Anyway, money and food. It's a strange because I hadn't thought about this and I have to thank my wife for basically asking the question. And why did the Chias the question about the farms and CBDCs? Well, one of you who follows a couple, you're based in Kent, which is not far away from where we are. And I spoke to her. I was going to climb the

other day and I was showing him my Thrapney bits that I bought the other day. What are Thrapney bits? Well, there are three Pents coins. And they're all pre-1920 coins. So they are 925 silver. I weighed them. And on my scale, they weigh about, they change from 1.3 to 1.4 grams. But I think they're 1.4 grams. The whole coin and 1.3 grams in silver. And I

paid a pound for them. There you go. There is a Thrapney bit. And four of these, of course, make up a shilling four times three is 12 shillings, 12 Pents. So I was talking to Glyve. I think it was a couple of days ago. And I said, yeah, I got some Thrapney bits. And I thought, what are these? Maybe I'll go and buy some eggs with

it. And I told them how eggs are getting expensive. So I got a message from one of you who has a small farm in Kent. And you said, well, I would take five Thrapney bits for a dozen free range, free range eggs. And three Thrapney bits for a little basket of straws. Strawberries. And I thought, oh, that's good. And I told my wife about that. And

she said, yeah, that's interesting. And I said, yeah, if there is food shortages, and we're having egg shortages, if things run out, we can always pop down to drive down to Kent. And it's not far. And we said as well, we need to make sure we keep the tank of our car full with petrol or gas. To make sure that we can get there. And then

she said, well, maybe that's why they want to buy up all the farms. Because if they don't buy up all the farms, there's going to be a few people out there who are going to be able to live outside the system, the digital system. And how can farms be digital? Well, I had to look at the WEF. World Economic Forum Food Systems Initiative. I'm not going

to go through the whole thing. I have read it. But basically, it says the World Economic Forum Food Systems Initiative galvanizes multi-sectoral leadership to support collective regional and country-led action and advancing global inside and policy to accelerate food systems, transformations to meet the needs of the people of the planet. So they give this spiel about, there's a lot of waste. And that they have to help

farmers, small farmers, and that they have to make it a sustainable way. They have to, they say it here. We need to fundamentally transform our food systems to provide all humanity with affordable nutritious and healthy food. So they're going to go through food within the limits of nature by 2030, in line with the United Nations Sustainable Development Goals SDGs and Paris Climate Agreement. So they're going

to go, if they're, if they're successful, they're going to go after all, all farms, big, medium-sized, small. And if you don't comply with them, they're going to do what they did in the Netherlands, right? We all know about what happened in the Netherlands. Farmers have protests against government scheme that will offer them 120% of the value of their company if they agree to close. So they

want to close the farms. They want to have these mega food centers. And I think the Netherlands is going to be one where it's going to be huge because they already export a lot of food, agricultural foods and stuff in the Netherlands. Even though it's one of this, not a huge country, it's a huge exporter of food. So, and then if you, I'm going to put

a link to the WEF page here, Food Systems Initiative. If you scroll down, you can see there is a YouTube video here from 10th of November, 2022. And it says accelerate innovation and digitalization, digitalization. And there's someone here on a farm, right? And she's holding a laptop. So, that's what I'm trying to say. They're coming after the small farms as well. I don't know how it's

gonna be done here in the UK. They'll probably find an excuse. Is there a solution? Can we fight this? Well, it's hard. It's hard. I guess. Maybe buying a small property, what they call a hobby farm could be something interesting. Maybe I'm probably wife and I going to think about doing that. But what if they come after everyone? So that's what I'm saying. We will be

going to this farm soon, hopefully. And that will be taking some of my real money to exchange for food and hopefully make a video about it. I guess I'll be breaking Gresham's law in what's Gresham's law. Well, you first use the bad money. If you can still use the bad money and save the good money. But that will be just an experiment. So, I will take

a few threatening bits. Maybe a few shillings as well and buy some eggs and strawberries. They'll take root. And I'm sure he'll have a good time. Today we're thinking of taking root to the woods. We were in the park the other day. He's swam today to the woods. We have some nice woods around here. And I think he will enjoy that. So, let me know what

you think about the food and CBDC situation. Because they can't implement the food. A CBDC for everyone, if there are pockets of people out there who are not using it and who are surviving without their CBDC, who have something like golden silver and even crypto, even Bitcoin to exchange for food and food of course and shelter. If you've got shelter in food, I mean, you pretty

much set. There's not much else you need. I guess you need a bit of heating in the winter. But that can be sorted out as well. If you've got first the shelter and the food, the rest comes a lot easier. I'm talking a little bit like a prep for today. But anyway, let's quickly look at where the markets are this morning. And very interesting what's going

on in the guilt market. I think this is serious. We could see. We could be around August 2022 in terms of timeline. And back then I warned that there could be some kind of UK sovereign debt crisis. The IMF said the UK is going to grow a lot more than Germany. And Germany is in the recession. But don't be distracted by those comparisons. That's what the

mainstream and the UK are doing. The government usually do. Even though the economy here might be doing really badly, they say, oh, but look, we don't have a recession. Germany does. But the reason why we don't have a recession here is because government has been spending and spending and spending and spending. And that's calculated as part of GDP. So before we look at the markets, well,

we're going to look at the market. But you're going to start with the guilt market, who usually start with real money, gold and silver. But I think it's important to look at what the guilt market is doing. And the guilt market is, of course, the most important market for the UK financial system. And why? Well, because it determines the price of credit. It's the, it's the

underlying base of the whole UK system. It's what people are willing to take. To lend to the government, you know, at what rate rate of interest? And if this rate of interest is going up very sharply and very quickly, that's not a good thing. So right now, it's 820 AM London time. So we've got the two year guilt yield. And I did a, yeah, it was

exactly a week ago. Last Friday, I spoke about the fact that it looked like a, the technical picture looked for, looked like a, like we're going to get higher yields, which is a bad thing, of course. Right prices of bones drop and yields go up. And at the time, the two year yield was around 4%. And it's moving quickly, because as I speak here, we're at

462. So it's up another seven basis points. The two year yields. And why is the two year yields so important? Well, it's the reference rate for the two year swaps. Swap rates, which are used a lot to set mortgage rates here in the UK. Most mortgages are fixed for two in five years. Unfortunately, they don't fix it for 30 years like they do in the, in

the US. And I don't know why. Maybe it's because we don't have the reserve currency of the world and financial institutions aren't willing to lend that long. Who knows. But anyway, this is not good. We're at 462.00. And the 10 year is up another nine basis points, almost at 4.5. And the 30 year as well as up nine at 474. So this is not just going

to affect people with mortgages. But it's going to affect the government. The government is going to be paying more to service its debt. We saw that in April, the budget deficit was hired and expected. Corporations are going to pay more. Commercial real estate companies that have leverage. They're going to pay more. Buy to let businesses are going to suffer. People who borrow credit card, any kind

of consumer credit, that's going to go up. Yeah, it's not going to be pretty. And you're not going to see this, of course, until he gets really bad. But I'm telling you, because, and why is that? Well, because when you listen to the BBC or any mainstream channel, and I haven't watched those for, for many years. But sometimes you, you're driving around the car. You got

the radio on. They say, Oh, the footsie did this and the pound did this. They never, they never talk about, Oh, the two year guilt yield just went up 25 basis points. That's something that they don't tell you. Because that's, that's the mystery of the Bank of England. That's how they keep things going. And you won't hear this anywhere else. But I think it's serious. And

yeah, we're going to keep an eye on it. And as I said the other day, barring the Bank of England coming in and reversing its policy and saying, they're going to start QE again and not raise rates anymore. This is going to be a big trouble here. And of course, they could always engineer some kind of crisis. We're seeing that the UK is becoming very belligerent

visa v Russia and the Ukraine. And that definitely wouldn't be a good thing. So let's go now to the usual run down of the market. So yeah, it's a 24 now. So London time, of course, we've got spot gold at 19. 15.51. It's up $10.10. High's been 52. Low is 36. Spot silver is up 33 cents or 1.4% at 23.05. So is the bottom in? I

don't know. But short term, anything can happen. But over the next year or two. And even further down the road. Gold and silver are going to become even more precious in my opinion. So that's what I have to say about that. So behind today's been 23.10 for silver. The low 22.66. So it's up as I said, 1.4%. The stock market is pretty much unchanged here. The

NASDAQs that is down slightly. Yeah. And I saw yesterday. When I was doing the market up. I thought that the NASDAQ was up a lot and everything else was down a little bit. And I said, let me know what's going on. And it's to do with chip maker. NVIDIA. To be honest, I don't follow that kind of stuff that much. I saw headlines saying that NVIDIA

was up on a very good forecast on excellent forecast. So it's really weird. That a stock price. And that's can do well because a company makes a really good forecast. I thought that was weird. And to be honest, I don't know more about what the company did and how they're doing. But I just thought that was strange. Anyway. To the currencies. We got sterling up just

under a quarter of a percent. 12350. The euros up an eighth at 10740. The dollar is down a quarter. Versus the yen at 13970. And the dollar is down half a percent versus the U1 at 706. Let's look at the old dollar rubble. We haven't looked at it recently. Well, that's trading around 80. It's pretty much unchanged. So it's pretty stable. The rubble. Aussie dollar. That's

up a quarter of a percent. 65. 22. Dollars down a tenth versus the Kiwi dollar. Dollars down a tenth versus the Canadian dollar and 136.26. And the Kiwi dollar is up. 2% at 60.73. To the general commodities. WTI crude is up a third. 72.08. Brent is up. 0.2% 76.26. Platinum is up 9.30. 1.5% at 3035. Highgrade copper is up 1.5% at 364. So let's quickly look

at the US treasury market. Eodes there. We've looked at the UK already. The 2 year yield is at 4.5%. That's unchanged. The 1 month bill is just above 6%. That's to do with the debt ceiling situation. The 10 year is unchanged. At. 381. So there you go. With that, I'm going to wish you all a very good day and a very good weekend. Take care. Bye.