Espen Haug: "Strategic Reserves"

In the financial boom several countries lowered the reserve requirements for banks. Solid strategic reserves were not important anymore, because the world was different, we had internet, Facebook and Twitter. Then surprisingly still we got the bust, many banks went bankrupt, but it was only money, and the big ones got bailed out.

“The total world production of wheat looks like it will be quite good this year. But may be politicians should start to think more than a few years ahead.”

Espen Gaarder Haug


During the last 30 years many western countries have also strongly reduced, if not completely removed their strategic grain reserves. Several countries have converted strategic grain silos into fancy apartment complexes. What do we need strategic grain silos for when we can live in a grain silo and order sushi over the internet….

Due to drought and fires Russia temporary ban its grain export. The fast rising wheat prices should be a reminder that the very fundamental of the world still is much the same as it always have been.

Most food still comes from the earth and the sun. No I do not predict a near term hunger catastrophe in the western world. And even if we got one (if it did not last for too many years) it could probably even be healthy for many people (but bad for others). And think how nice, when people again really would appreciate if they got invited for dinner. Not long ago

I was just by coincident reading an old book about cooking in wartime. Well I do not remember the exact title now.

My copy is an ocean away. But it was quite funny to read how less food and higher prices on food in some parts of the world during the second world war (where there not was big lack of food) according to the author actually made many people healthier.

But I hope people not need a war to find this out, the cause of such a diet typically has many horrible side effects.

The total world production of wheat looks like it will be quite good this year. But may be politicians should start to think more than a few years ahead, but when did this ever happen.

Original post at the Collector’s Blog.

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