Oligarchical Desperation Leads to Global Hyperinflation in Commodities

06 Aug 2007

August 6, 2007 (LPAC)-- In addition to the prices for tortillas, pasta, and milk, asset prices for basic industrial commodities are exploding worldwide, as the crash wipes out paper assets.

Metals prices have jumped to the point that foreclosed homes have had their copper wiring and pipes stripped from them, and thieves have stolen highway guard rails and sign posts. Below is a sample of industrial and food commodities, over the past three years. Prices for ores are per metric ton, crops per bushel, unless indicated.

Commodities Jul 2004 Jul 2007 Increase
Alum 1,450 2,137 100% (hit 2,900 in July 2006)
Copper 2,700 7,980 195%
Gold 380/oz 672/oz 76%
Lead 800 3,400 325%
Nickel 11,350 54,350 (June) 378%
Silver 6/oz 12/oz 100%
Tin 9,150 16,250 77%
Zinc 900 3,500 288%
Coffee 0.6/lb 1.4/lb (Jan) 133% (jump beginning July 2006)
Corn 2.20/lb 4.40/b (July) 100%
Soy 6.00 8.30 30%
Wheat 60 135 125%