Three class-action lawsuits filed Friday claim that agribusiness power Syngenta is to blame for depressed corn exports to China since the seed company released a genetically-engineered variant of the crop before it was approved by Beijing.
At issue is Syngenta’s 2009 release and distribution of its MIR162 genetically-modified corn known as Agrisure Viptera, which is engineered to fend off certain insects known to decimate corn crops. While approved for use in the United States, Chinese regulators have yet to sanction the export of Viptera.
Syngenta is responsible for “destroy[ing] the export of US corn to China,” which led to “depressed prices for all domestic corn,” according to Volnek Farms, the lead plaintiff in a lawsuit filed in an Omaha, Nebraska federal court. Volnek and others are claiming $1 billion in compensation.
The two other suits were filed in Iowa and Illinois federal courts, according to Courthouse News. In addition to monetary claims, the Nebraska and Iowa suits seek to enjoin Syngenta from cultivating and marketing MIR162, or Viptera.
In addition to alleging the destruction of the US corn export market to China, Iowa plaintiffs Cronin Inc. and Jim Ruba Jr., who say they do not even plant genetically-modified corn, claim that Syngenta offered “materially misleading statements relating to the approval status of MIR162 in China and the impact the lack of approval would have on the market.”
“Syngenta’s widespread contamination of the US corn and corn seed supply with MIR162, which will continue to foreclose the US export market to China in future years and will continue to lead to lower corn prices per bushel in the US market, as a result,” the Iowa plaintiffs added. …
Let’s be serious, shall we? It’s not really corn. But whatever it is, it’s good enough for americans, the biggest chumps in history.
Nearly half of Florida households do not earn enough to pay for basic necessities, according to a report released Tuesday by the United Way that seeks to cast a light on the large group of state residents who struggle financially but do not meet the official criteria for being in poverty.
While 15 percent of Florida households are below the poverty level, another 30 percent are financially insecure — a figure that also applies to Sarasota and Manatee counties — based on a new measurement developed by the United Way.
The report zeroes in on the plight of low-income workers, people who have steady jobs but grapple with low wages and the increasing costs of many necessities. The United Way — a leading nonprofit in many communities that helps funnel donations to other organizations that assist those in need — created a new way of defining this population in an attempt to spark a broader discussion about those experiencing economic hardship and spur community leaders to action. …
Gee, I wish the high priests at the fraudulent reserve could figure out how money works. It’s been over a century now….
The chart below might be the most powerful indictment of the Federal Reserve and our corporate fascist empire of debt ever created. Some people don’t get charts. Charts tell a story. This chart tells the story of elitist bankers supporting the agenda of a corporate fascist state, resulting in the gutting of the middle class. Anyone who views this chart in a positive manner is either a Federal Reserve banker or their paycheck is dependent upon the continuation of the pillaging of the working class. Corporate profits are at all-time highs. Profit margins have always reverted to the mean throughout modern history. If they remain at all-time highs then something is terribly wrong.
“Profit margins are probably the most mean-reverting series in finance, and if profit margins do not mean-revert, then something has gone badly wrong with capitalism. If high profits do not attract competition, there is something wrong with the system and it is not functioning properly.”– Jeremy Grantham, Barron’s
Here is the story I see in that chart. Corporate profits as a percentage of GNP have averaged 6.5% over the last 67 years. As you can see, it is a volatile figure. Corporate profits rise during expansions and fall during recessions. That has been a given over time. The reason corporate profits have always reverted to the mean was due to the basic tenets of free market capitalism. When a company is generating outsized profits, that industry will then attract new competitors, resulting in price competition and lower profits. From 1950 through 1971, corporate profits as a percentage of GNP fluctuated in a narrow range between 5% and 7%. This was a reflection of a market driven by competition, a non-interventionist Federal Reserve, and a government not captured by corporate interests.
It is no coincidence since Nixon closed the gold window in 1971 and unleashed greedy bankers, feckless politicians, and self serving corporate executives to utilize easy money and prodigious amounts of debt to financialize our economic system and deform capitalism, corporate profits have boomed and busted. The Fed created booms and busts are clearly evident on the chart. Nixon toady Arthur Burns created an inflationary boom in corporate profits to 8% of GNP in the late 70′s followed by the collapse to 3% caused by Volcker having to raise rates to extreme levels to crush the Burns created runaway inflation.
You can see exactly when the Maestro assumed command at the Fed and proceeded to introduce the Greenspan Put, encouraging speculation, borrowing and mal-investment. His easy money boom led to the dot com bubble that doubled corporate profits from their 1987 low. Of course the profits vaporized in an instant and plunged to 4% of GNP in 2001. Greenspan and then Bernanke proceeded to drive interest rates to record lows creating a prodigious housing bubble resulting in the greatest level of mal-investment and financial fraud in world history. Corporate profits as a percentage of GNP skyrocketed from 4% to 10% in the space of six years. The banking cabal had captured the system.
The Fed orchestra kept the music playing and Wall Street kept dancing the rumba with their corporate CEO dates. The Keynesian acolytes were ecstatic. The Austrians warned of the impending bust. No one listened. The collapse of the worldwide financial system was portrayed by the corporate mainstream media, bankers like Dimon, corporate CEOs like Immelt, billionaires like Buffet, captured government bureaucrats like Paulson, and politicians like McCain and Obama, as a systematic risk that required a taxpayer rescue of criminals.
The $800 billion gift to bankers and mega-corporations by the Washington DC Party of captured politicians was chicken feed compared to the $3.5 trillion of newly printed fiat handed to Wall Street and corporate America by Bernanke and Yellen. Five years of 0% interest rates have impoverished senior citizens and savers, but they have done wonders for Wall Street and mega-corporation profits, along with executive bonuses. Corporate profits soared from 4.5% of GNP to an all-time high of 10.5% in the space of three years and have remained at this elevated level.
Who Needs Wage Earners Anyway?
Is it a coincidence that corporate profits as a percentage of GNP are at record highs while employee compensation as a percentage of GNP is at record lows? Is it a coincidence that employee compensation as a percentage of GNP peaked at 51% in 1971? That year certainly seems to be a turning point in U.S. economic history. Gold’s purpose as a check on statists, Keynesians, politicians, bankers, and the military industrial complex couldn’t be any clearer. The decline has multiple causes, but the storyline about technology being the major cause is patently false. My observations are as follows:
- From the end of World War II until the mid-1970s employee compensation as a percentage of GNP was consistently between 49% and 51%. The middle class saw their standard of living rise as wages outpaced inflation, savings rates were high and led to capital investment, debt was used for long term purchases like a home or automobile, and bankers accepted deposits and made safe loans. Technological progress over the thirty years was constant, but did not result in declining wages.
- From the moment Nixon closed the gold window, employee compensation as percentage of GNP relentlessly declined for the next quarter of a century from 51% to 44%. Over this time frame our economy deformed from a goods producing system driven by savings and capital investment into a service/financial economy built upon consumer debt, conspicuous consumption and market gambling. Our iconic mega-corporations fired Americans and hired Chinese slave laborers, lobbied for tax breaks, invested in their own stock, kept wage increases below the level of true inflation, and paid extravagant compensation packages to their Harvard MBA executives.
- The brief upturn created by Greenspan’s irrational exuberance 90′s boom was short lived. The relentless decline resumed after the dot com collapse, even as Greenspan and Bernanke blew their epic bubble. Their financial engineering machinations on behalf of Wall Street did nothing for the average worker on Main Street. Employee compensation as a percentage of GNP declined from 47% to 44% BEFORE the financial collapse.
- Unequivocal proof that Bernanke’s sole purpose of QE and ZIRP was to benefit his Wall Street owners can be seen in the continued decline from 44% to 42% since 2008. There has been no recovery for the average American. Wall Street is rolling in dough. Corporate America is rolling in dough. Politicians are rolling in dough. The average American worker is rolling in dog shit. ….
What will happen with the trillions in QE currently collecting dust in bank vaults and US treasuries when the economy hits the bottom and people are desperate? The banks will buy up everything on the cheap. It will make the Great Ripoff of the 1930’s fade in comparison.
Not the “fed”, the “fraud”, which presides over the system of fictional reserve banking.
As the generational war heats up, we should all remember the source of all the bubbles and all the policies that could only result in generational poverty: the Federal Reserve.
Federal Reserve chair Janet Yellen recently treated the nation to an astonishing lecture on the solution to rising wealth inequality–according to Yellen, low-income households should save capital and buy assets such as stocks and housing.
It’s difficult to know which is more insulting: her oily sanctimony or her callous disregard for facts. What Yellen and the rest of the Fed Mafia have done is inflate bubbles in credit and assets that have made housing unaffordable to all but the wealthiest households.
Fed policy has been especially destructive to young households: not only is it difficult to save capital when your income is declining in real terms, housing has soared out of reach as the direct consequence of Fed policies. …
Monsanto’s Roundup herbicide (technically known as “glyphosate”) has been linked to many diseases.
However, farmers appear to be dumping it on crops right before harvest.
Specifically, Monsanto International published a paper in 2010 touting the application of Roundup to kill crops right before harvest, in order to dry out the crops in advance and produce a more uniform and earlier harvest …
Video claiming to show a Syrian boy rescuing a girl amid heavy gunfire lauded as heroic chronicle of resistance now revealed as 100% fraud – filmed in Malta. Just one of many lies perpetuated by Western media.
Fox, the London Telegraph, and the Daily Mail all published articles promoting a video claiming to show a Syrian boy rescuing a young girl amid heavy gunfire during Syria’s ongoing conflict. The Daily Mail article claimed under its titled, “Heroic young boy runs through sniper fire in Syria, pretends to get shot, then rescues terrrified girl as bullets hit the floor around them,” that:
Yabroud was the last rebel stronghold held by the FSA on the Lebanese border before it fell to Assad’s forces in March 2014.
The video, which was uploaded yesterday, has already had nearly 500,000 views. …
While the Daily Mail claims “experts” claimed “they have no reason to doubt its authenticity,” those who have witnessed the West’s intentional, systematic deceit throughout the duration of the Syrian conflict could cite many reasons. With it now confirmed that the above mentioned video is a hoax, yet another reason still can be cited.
Indeed, the video was a complete hoax – a literal production filmed in Malta, not Syria, and consisting of actors, actresses, and special effects. The UK Mirror in its article, “Footage of Syrian ‘hero boy’ dodging sniper’s bullets to save girl revealed as FAKE,” would finally admit:
Lars Klevberg, 34, from Oslo, devised the hoax after watching news coverage of the troubles in Syria.
He told BBC Trending: “If I could make a film and pretend it was real, people would share it and react with hope.
“We shot it in Malta in May this year on a set that was used for other famous movies like Troy and Gladiator.
“The little boy and girl are professional actors from Malta. The voices in the background are Syrian refugees living in Malta.”
Not the First Time
Klevberg admits that “Syrian refugees living in Malta” participated in his propaganda stunt. This is far from the first time the West and its proxies have been caught blatantly producing false reports, footage, and claims regarding the Syrian conflict. In fact, the Western media’s coverage of the Syrian conflict is nothing more than a series of deceptions crutching their way along on their audience’s perceived ignorance, from one exposed sham to another. …
A victim of the Westminster paedophile abuse scandal has claimed he saw a Conservative MP murder a young boy during a depraved sex party.
And the Sunday People can reveal that detectives are investigating THREE murders allegedly linked to a network of VIP perverts.
The horrifying account comes days after Scotland Yard confirmed they have launched a murder probe connected to allegations of sex abuse from the 1970s and 80s.
Today the Sunday People and Exaro investigations agency expose the full extent of shocking events the witness, known as Nick, has described to the Metropolitan Police paedophile unit.
Nick claims the first death was of a boy aged ten or 11 who was deliberately run down by a car.
Another chilling allegation is that he was in the same room in the 1980s when a 12-year-old boy was strangled by a Tory MP.
Nick said: “I watched while that happened. I am not sure how I got out of that. Whether I will ever know why I survived, I am not sure.”
Eighteen months later, he claims a third boy was killed by two unknown men in front of another MP.
Nick told of his terror as he and the strangling victim were driven to an orgy.
He said: “We looked at each other and saw the fear in each other’s eyes. We said nothing.
“I knew we were being taken somewhere to be sexually abused by powerful men. …
It’s a no-brainer that this is still happening today. Such depravity doesn’t stop on its own, blackmail is too useful as a political tool.
Also see the reference section starting at “conspiracy of silence.”