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Rice Cartel Proposed
By Jim O | May 2, 2008
Thailand has proposed a rice cartel to include themselves, India, Vietnam, and China. They are concerned with rising food prices and rising energy prices, largely controlled by another cartel, OPEC. They want to protect themselves from a price war. In other words, they want to protect their profits. Now there is nothing wrong with making a profit.
I suggested earlier that the US set up a system to control prices of exported wheat so that our country, which produces the lion’s share of exported wheat in the world, can, in essence, exchange wheat for oil. Is this not evidence that the world is heading in this direction. OPEC has existed for decades. They have turned off the pumps in the past, hurting us greatly at those times. While a rice cartel would not cripple the US, as we are not huge consumers of this grain, the handwriting is on the wall.
Want our wheat? Ship us some oil and we’ll send you a sandwich.
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May 4th, 2008 at 1:01 am
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