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Cocoa, Coffee Jump After Deposed Ivory Coast President Gbagbo Nationalizes Industries
When the deposed president of the world's biggest cocoa exporter says he is nationalizing the cocoa and coffee industry, the natural response is for cocoa to continue its nosebleed climb higher. However, when one considers that cocoa exports have already been banned from the now civil-war torn Ivory Coast, one wonders just what incremental impact this latest move of pure desperation will have going forward. From BusinessWeek: "Laurent Gbagbo has announced on state TV that the government will now
be the only entity authorized to buy or sell coffee and cocoa, the
country's two main exports. The move to nationalize the country's lucrative cocoa and coffee
sectors comes as financial sanctions begin to take effect against the
rogue leader who has refused to leave office. International pressure has
resulted in a ban on cocoa exports and Gbagbo has also been frozen out
of the state's accounts at the regional central bank. The decree made public late Monday states: "The purchase and sale
of coffee and cocoa will be undertaken exclusively by the state." That said the punchline is quite hilarious and has led to speculation that Al Qaeda may now be providing halluciongenic drugs to the deposed tyrant: "It's unclear how nationalizing the sector will help the Gbagbo government, with the ban on cocoa exports already in effect." Luckily, in this market where nothing makes sense any more, the move was sufficient to get cocoa and coffee futures to be one of the only commodity products that are up on the day for now (yet with everything going bidless to offerless and vice versa in a manner of minutes this will likely not be the case by lunchtime).
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MY GOD!!!
I ALWAYS GIVE MY WIFE CHOCOLAT TO GET HER IN THE MOOD BUT WHEN PRICES GO UP EVEN MORE....
AND I LOVE MY COFFEE TO!
I don't know anymore.... what if I need to cut down on one of those...
The wife part is where you're going wrong. Remember kids: If it flies, floats or fucks its cheaper to just rent it.
For me sex is like my parking space.
SD'S PARKING ONLY!!
and compact only?
We don't need no coffee or chocolate! Right?
Sort of like an upgrade in a computer game, if you ply women with alcohol instead of chocolate, it unlocks a depravity level.
Escape, so true. And sad. I've seen "laddette" pictures in mainstream newspapers and it never ceases to shock me.
really sad.
cohoclate on the other hand....want or need?
Lindt has sponsored "studies" to show it's good for you.
ORI
http://aadivaahan.wordpress.com/2011/03/08/stunning-art/
don't like either chocolate or coffee. really don't think they taste that good.
liked those pictures you had up on your blog. that german is a true human being with powerful statements on the streets. if he could get an ally like banzai, put some of his content on the streets, we would be moving forward instead of backwards in this country.
This could be the trigger for the second Belgian Revolution! After that Belgium will invade the Ivory Coast.
Is this why ES cranked 13 pts in a nanosecond this morning? WTF? More MENA rumors?
I don't know... coffee might be in danger... this is serious!
NO COFFEE NO WORKEE!!
are the saudi people losing their fear?
http://nakedempire.wordpress.com/
Mocha cafe grande, bitchez.
+++++++++++++++++++++++++++++++++++++++++++++++++++++++
buy the coke-ah..
to sell the coke-ah..
to buy more silver / gold..
Saudi Oil Minister says Saudi Arabia has 3.5 mln barrels of spare oil per day - CNBC
OH. That explains it. What's the half life of this lie?
I don't know but I'm with you.
If I were President I'd also be sweating who has spare production capacity for coffee and chocolate.
Chicks going ballistic over chocolate shortages. They'll fucking riot!
Consumers without coffee .... they'll start shooting!
Sure is! You just have to bring your own well, pipes and everything else! It's right there under the 1000 foot dunes in the empty quarter! Yours for the taking!
Sure if you don't mind the high sulpher levels - not to mention the heavy metals.
You can't refine the suff - but we will be glad to sell you all you want at $120/bl
Evidently markets rally now when oil doesn't go up TOO much. Who knew? The new normal ladies and gents.
Gbagbo Mugabe Chavez
How long before the Chinese grab all the usa corporate assets.
That would really break my heart. :shniff!:
viva la revolucion bitchez!
This is the future..governments nationalizing all commodities....they think its in their best interests..or riches...but of course production will drop...so prices will rise...and off to the inflation races we go again..
we go again? Did we leave the inflation races? Why wasn't I informed!!!?!?!
whats better keeping it in the hands of a global conglomerate or in the peoples hands. i vote the peoples hands since it is from their land
"i vote the peoples hands since it is from their land"
who said the people got anything to do with it?
just adding a new qaddafi blood sucker to the list thats who hands get wealth.
ps you don't get a vote.
The JP Morgue needs something to go with their sugar.
Reminds me of the new sheriff coming to town in Blazing Saddles.
I bought 40 lbs of gourmet coffee @ $1.75/lb last month at the close out stores. It was hard, but I managed to get it all on my moped. Keeping it dry inside my tent will be the big challenge.
Priorities, Bitchez!
Hah! That was funny.
ORI
Firstly,hand me some o'those chocolate gold coins if ya don't mind Tyler.
Secondly, in european trading Goldminer RandGold Resources,ticker RRS which of course operates in 'da Ivory Coast maan'.....getting killed today...down 9%.
Check out this FUGLY lookin' chart again by finger clickin':
http://shares.telegraph.co.uk/charts/?epic=RRS
Buy the f'***in dip....ya gotta be f***'in kiddin'.