Just four months ago, we penned “The Most Important Reason to Own Precious Metals,” i.e. enabling your net worth to keep up with the inexorably rising cost of living over long periods of time. Specifically we referred to food prices; i.e., the indisputably most important “item of real value.” Care of unfettered global money printing – particularly since the 2008 financial crisis – the price of all items we “need versus want” are relentlessly rising; and of them, none characterizes “need” better than food.
Back then we highlighted the startling percentages of U.S. produce grown in California where an historic drought is ongoing. However, we’ve since realized that an equally devastating drought is occurring in Brazil; and as you can see below, the entire world could be catastrophically impacted. To wit, there’s a reason mass social unrest pervades Brazil during what should be the nation’s proudest moment, i.e. hosting the World Cup. And that reason is persistently high food prices.