2010
October 30, 2010
Van Eck Global has come out with a Rare Earth Metals ETF (REMX) which offers investors an opportunity to get a diversified exposure to this commodity sector .Rare Earth has become a "geopolitical problem" rather than a demand/supply problem with Chinese monopoly over the mining and production of REE.Note materials for Green Industries have become a hot investment sector in recent days with current and future shortages fueling a strong price rally.Global X had launched a Lithium (LIT) ETF which is an investment vehicle into Lithium and Battery/EV producers.Like LIT which can hardly be called a pure play Lithium play,REMX is also not a pure investment into the REE sector.Rather it offers an investment into a wide variety of strategic ores and metals such as titanium,zirconium etc.REMX analysis shows that it is very well diversified geographically and across companies.This is a good in my opinion since many of the rare earth companies that have recently seen their stock prices shooting up are very risky.Most of these companies will take anywhere between 1-5 years to start production and the quality of their reserves,management,environment permitting etc. is highly uncertain.Note mining of rare earths is very environment unfriendly which is ironic since they are mainly used in Green Industry.Here is a list of the features of this new ETF
October 29, 2010
India's Political and Business Elite is known to break Indian Laws with Impunity as Corruption becomes more Blatant by the Day.India recently hosted the Commonwealth Games which was known more for its Corruption and Large Scale Looting than any Sporting Feats.The Politician Bureaucrat Nexus along with their Business Associates made a massive amount of money without any fear of the law.Despite some tax raids and some feeble investigation,it is known that no one would serve jails terms.At least not the fat cats at the top,maybe some minor official will do a year or two so that the government can be seen as doing something.India's top vigilance official recently said that 30% of Indians were utterly corrupt and the seems to be an understimate.
October 29, 2010
3G Technology made a lot of waves in India after the government managed to make a huge sum in auctioning off the airwaves required for using the 3G Technology.India's big telecom providers like Airtel,Reliance,Tata Docomo,Vodafone and others fought tooth and nail for this precious resource.In the end it remains questionable whether the government really gained from the Rs 100,000 crores it got.Critics say that to recuperate this massive expenditure,companies will provide 3G services at very expensive rates making communication in India an overall loser.However it remains to be seen as leading providers Tata Docomo and Airtel start providing 3G services in 2010 itself.Note Docomo is one of the 3-4 Japanese telecom giants which has implemented 3G Technology a few years ago which proved to be a big success.While Japan has had a good 3G experience,other countries did not have it so good.In UK it pretty much turned out to be a cropper.It remains to be seen whether in India it can be a success or not.
October 28, 2010
Siemens as a part of its Energy Efficinecy Efforts will go on a Green Makeover of its Office Locations in India.LED Lightining and other measures will be adopted to save Rs 3 crore in Energy Costs annually.15% of its current Energy needs will be cut by spending around $2.2 million in the next 2 years with a payback time of around 3 years.Siemens hopes to establish its Green Credentials in the Green Building Category by showcasing its inhouse efforts in Energy Efficiency.Note Energy Efficiency is the cheapest way to cut carbon emissions and is the lowest hanging fruit in mitigating Climate Change.It is perhaps the only Green Sector which does not require a subsidy to be economic.India is on a massive infrastructure building spree with $500 billion expected to be spent over the next 5 years.Green Buildings will go a long way in reducing India's growing carbon emissions and will save money as well.
October 28, 2010
Pennsylvania is the Ground Zero for Shale Gas Development globally with more than 2500 Gas Wells in Operation.The State is situated on top of the Marcellus […]
October 27, 2010
Solar Energy is currently the amongst the costliest form of energy generation and except in niche applications is not economic without some sort of government subsidies.However growth in solar energy has been one of the fastest in the past decade upwards of 50% CAGR as costs have declined and technology improved manifold.Solar Energy forms just 0.1% of the the total energy supply of the planet currently and analysts and decisionmakers don't think that Solar Energy can form a big chunk in the future as well.However I differ strongly in that aspect.The main reason for my very bullish opinion on Solar Energy is based on the simple fact that Solar Energy is the only form of Energy whose costs are declining rapidly on a secular basis.In a world facing the prospects of "peak commodity",solar energy remains vastly abundant and it remains upto human technology to capture it at the lowest costs.
October 27, 2010
EGP is the 4th company of its kind to supply paper to European investors so the demand is not high.Despite EGP having 44% Hydro Assets and 13% Geothermal Assets which is more than its European competitors dependent on Wind Energy,investors are not convinced.Even the lower band of pricing has seen only 60% demand which means that EGP may have to lower it further.Spain and Italy the home countries of Enel are reducing Feed in Tariffs for Green Energy Sources due to Budgetary Problems.Despite removing the most draconian cuts on Renewable Subsidies,the sword of uncertainty continues to hang over the Green Producers.Investors are also looking for a discount on existing companies in order to make commitments to a new issue.EGP has been trying to do an IPO sine last year and the current bullish market environment in Europe might be the best time for it to clinch the deal.
October 27, 2010
USA is the 2nd largest importer of REE and it has thought of taking the issue to WTO.But the WTO has proved to be quite toothless delaying the hearing of issue till 2011.Obama has decided to rake up the REE shortage in the G-20 meeting even as US Senate thinks of passing legislation to boost domestic sources of REE.Molycorp was up more than 11% forming yet another lifetime high on the news.Note the US Congress has already passed a REE law and the Senate needs to endorse the draft in order for it to become law.Rare Earth Elements have a Defense Angle to them as well as many of the REE such as samarium are used in Defense Products.Radars,Pathfinders,Smart Bombs and a number of hitech weaponry require Rare Elements for their production.Without a domestic source,USA might be put at a serious disadvantage in the coming decades.
October 26, 2010
Malaysia is set to become one of the largest solar panel producing nations overtaking much larger rivals USA and Japan as world class companies start/expand capacities in Malaysia.Every country is trying to promoter Green Industry in the fight for leadership of this new age industry and to create high paying green jobs.Billions of Dollars in Green Stimulus has been doled out by governments but with varying degrees of success.USA has managed to squander most of its Green Subsidies despite possessing a very strong technological base as US Companies shutter US factories to outsource production to Asia and Mexico.European Countries have seen a similar phenomenon as their high costs force domestic companies to shift to Asia for their survival.China and Taiwan are the largest solar cell producers in Asia due to their low costs,good infrastructure and massive government support.Taiwan has also been able to leverage its semiconductor strengths with companies like TSMC and AUO expanding into solar energy.However Malaysia has been a surprise winner as well.It is important to understand the reasons behind Malaysia's success as it has beat countries with much larger solar energy markets like USA and Japan.It also has no massive semiconductor industry like Taiwan which can redeploy its skills.It has only recently introduced a Feed in Tariff Policy to promote Renewable Energy
October 26, 2010
Vestas employs over 8000 people in Denmark which is its home base out of the 22000 employees worldwide.The comppany now plans to fire 3000 workers mostly from Denmark even as it hires workers in places like India and UK.Vestas has to cut a lot of flab as Chinese companies destroy higher priced competition in the Wind Energy Industry.Like the Solar Industry,where European companies like Q-Cells and Solarworld are facing an existential crisis from low cost Chinese competition ,Wind Energy now faces similar dynamics.Like Q-Cells and REC which relocated their manufacturing to Asia,Vestas has to do a similar act.Despite a record order book of 6.5 GW in Q310,Vestas has to fire Danish workers who are more than 10x more expensive than similar Asian workers.In a globalized world,companies don't have the luxury of employing expensive workers in developed countries if similar wokers can be employed elsewhere.Note competition is increasing in Wind Energy with big players like Hyundai,Samsung,Northrop and smaller players entering the industry.
October 26, 2010
Putting up Solar Panels on prominent landmarks is an easy and cheap way to promote Green Energy.In the last few years, a number for prominent places in the world have been installing solar energy in an effort to reduce GHGs and to publicize the clean economy.It advertises the advantages of putting solar panels in powering buildings which account for 40% of the global energy usage.'s Sydney's Opera House,India's Golden Temple are some of the other landmarks that have installed solar panels to cut fossil fuel use and encourage the use of renewable energy.White House has also decided to install solar panels next year after a prolonged campaign by green activists.Note White House had earlier installed solar panels during the time of Jimmy Carter and the OPEC Oil Embargo.These has been decommissioned by Reagan reflecting changed energy fundamentals.India's Parliament House has now decided to go green using solar panels and biomass plants to drastically reduce its carbon footprint.The Indian Parliament generate a huge amount of food waste which will help in powering the biomass plant.
October 26, 2010
Chinese Monopoly over Rare Earth Elements has Foreign Governments worried
Rare Earth Elements (REE) have become a hot media top with the unofficial Chinese export embargo to Japan.REEs are crucial raw materials for a wide range of industries in the Green and Defense Sectors.The Chinese monopoly over the production and supply of these commodities have made EU and USA thinking of taking the WTO route.However this had not detered China from clamping down on the production and exports.China wants to use these minerals as a strategic resource to force Green companies to relocate to China and transfer hard to get technologies to local Chinese companies.Note while EU and USA are looking to export Green Product to China,the government there has shrewdly only given permissions to companies willing to transfer technology.
Can India take Advantage to become a Leading Supplier
Rare Earth Element Deposits are found in many places in the world but due the Chinese undercutting of prices and lax environmental regulations had all but shuttered every mine in the non-Chinese geographies.Recent Chinese moves have opened up oppurtunities for REE mines as prices have increased by almsot 5-10x in the last few months.Lynas Corp is opening up a mine in Australia while Molycorp is reopening its mine in Mountain Pass,Californa.India also has a long history of production and export of REE . However its production of around 2500 tons is only 2% of the estimated Chinese yearly production of 130,000 tons.
October 26, 2010
California and the Federal Government have recently approved a number of big Solar Thermal Plants totaling around 2800 MW.These plants utilize Concentrated Solar Thermal (CSP) Technology and uses mirrors and towers instead of normal PV panels.The haste with which these plants are being permitted and approved is mainly due to the expiry of the Treasury Grant Scheme by end of 2010.According the the American Stimulus rules,only Green Projects which have broken ground or spent 5% of their costs would be eligible for the 30% Cash Subsidy.6 Huge Solar Thermal Plants have been approved with the biggest Blythe plant being the most recent.The capital costs for these plants are extremely high at around $6/watt which makes me question their economics.PV panels can be installed at around $3-3.5 /watt which is around 40-50% lower.Despite the higher capacity factors for Solar Thermal Plants and their ability to store energy for a short period,the cost difference is too large.
October 25, 2010
BYD the Chinese battery and electric vehicle producer made famous after Warren Buffet made an investment has been facing rough times recently.Its falling auto growth,problems with land acquisitions in China and an incoherent strategy has hurt its profits and stock price in 2010.The Company has put on too many hats with investment in various green technologies besides its bread and butter car business.The most ambitious plans of BYD undoubtedly lies in the Solar Energy Business though little details have been revealed.The company is planning to spend 22.5 Billion Yuan on Solar Energy over the next 5 years for which it has already secured financing.The company has started a 100 MW cell plant in the Shaanxi province and plans to expand to 5000 MW by 2015.However its recent travails had made one think that they would have put their aside Solar ambitions .However that does not appear so.
October 25, 2010
Wind Energy Companies in the Developed Markets have taken it on the chin in 2010.Companies dependent on the Wind Energy Markets in the West like Vestas,Gamesa,Suzlon,Iberdola Renewables etc. have had a very bad 2010 as their stocks price keep finding new lows.A Combination of Tough Financing Markets,Low Gas Prices and Declining Electricity Demand has made the livers of Wind Executives hellish in recent times.More competition in terms of Chinese heavyweights like Sinovel,Goldwind and Koean shipbuidlers precludes an easy recovery.Green IPOs in recent times have faced huge volatility with some managing success while others have led to huge losses.China's Ming Yang Power which is a Chinese Turbine Manufacturer has seen a 30% erosion of its IPO stock price of $14 as it was priced a tad too aggressively.First Wind which is a bit different being a Wind Energy Developer similar to renewable energy developers like Enel Green Power,EDF Novellas might face a frosty reception as well.Its not a good time to be in the wind energy business as increasing competition and declining demand cause problems.Note John Deere sold off its Renewable Energy Arm for a bargain as US Climate Change Legislation seems stuck in an everlasting limbo.Without a Federal RPS and an expiring 30% Treasury Cash Grant for Wind Farms,2011 is very uncertain for Wind Energy in the USA.
October 25, 2010
India hopes to derive annual revenues of more than $1 billion dollars from a new coal tax it has introduced.These revenues will go to a proposed Green Bank which will fund Green Energy Projects and R&D in the Country.While initially the funds will be managed by the government's financial agency IREDA,later on a full fledged Green Bank will be managing the annual $1 Billion Coal Tax.Note Coal is the biggest Energy Source for India and China.Both countries are trying to diversify their dependence from Coal as it is the dirtiest form of energy.However the cheapness and abundance has made coal indispensable to the voracious energy requirements of both countries.Coal India Limited (CIL) which came out with an IPO recently was a resounding success in India showing that investors believe that Coal will contiue to grow and dominate the Energy Scene in India.
October 24, 2010
The Indian Post Office entered into the business of selling Gold Coins in 2008 after tying up with Reliance Money which is part of the ADAG Group.Amongst the Investment Options in Buying Gold in India,Trusted Family Jewellers had seemed the best option in buying physical gold in India.However a number of investors might not have that option so the next best thing in my opinion to buying physical gold is from the Indian Post Office.The reason is that the margins charged is around 7% which is less than the 12% being charged by the Indian Banks.Note these gold coins are certified by the top notch Swiss name and have the endorsement of the World Gold Council as well.
Summary
While Gold ETFs are the proffered investment of choice while buying paper gold,it makes sense to have some physical gold in your portfolio as well.There are both pros and cons in holding physical gold,so depending on the investor's attitude one can hold a certain percentage of his gold holdings in physical gold.The Indian Post Office seems a good bet on buying physical gold compared to the Indian Banks.
October 24, 2010
Solar Power in India is growing at a rapid clip with the strong government support through the ambitious Jawaharlal Nehru National Solar Mission (JNNSM).Rapidly Falling Costs,Massive Power Deficits,Huge Growing Energy Demand and Peak Oil all make Solar Energy in India one of the biggest energy opportunities in the 21st Century.People are slowly recognizing this large Green Money Making Opportunity with companies like Suntech,Siemens and Trina Solar entering into partnership with local players.Suntech has tied up with independent power producer IPP while Siemens has tied up for solar thermal energy with the Adani Conglomerate.This is just the initial trickle with large foreign companies waiting to flood the Indian market.There have been some initial hiccups in Debt Financing of Solar Energy in India but I expect the long term secular growth story to be unaffected. Solar Power Companies in India can be divided into various categories based on solar equipment manufacturing,independent power producer,renewable arms of large power companies etc.I have already covered the Top 10 Solar Module Production Companies in my Solar Panels in India article.Here is the list once again.
October 24, 2010
Concentrated Photovoltaic (CPV) Technology Gaining Ground
Concentrated Photovoltaic (CPV) Technology has found some favor in 2010 with some major projects and investments coming its way.CPV Technology which is a poorer cousin of its more illustrious PV Technologies like c-Si and Thin Film has found some attention with its low cost and high efficiency.US Startups like Amonix,Solaria have found some traction bagging some big projects backed by financial investors.Concentrix Solar backed by European Specialist Wafer Producer Soitec has recently announced a partnership deal with US Energy Efficiency Leader Johnson Controls.With c-Si Technology fast reaching its Efficiency Limits,CPV is looked upon as the way forward for the Technology to progress.CPV Technology works by concentrating the energy of the sun through optics and has the potential to dramatically cut the costs as it uses much less materials.The Technology slowed down because of the polysilicon price crash but has found increasing attention in the past few days
October 24, 2010
WTO Defers Chinese Case to 2011
European Union,Mexico and USA had filed a case with WTO in 2009 over the Chinese monopoly and trade resticitions of rare earth minerals.However WTO has failed to resolve the issue despite a time limit of 6 months.The WTO Panel has defered the WTO case to April 2011 without assigning a reason.WTO is more of a negotiatino forum rather than a body which can punish violators .To expect WTO to make China increase it export quota of rare earth minerals is like living in a fool's paradise.Trade Tensions between China and other world trade powers is already very high.Currency and Global Imbalances are already major issues which threaten to derail the world economic recovery (however faint it maybe).Rare Earth Minerals are proving to be another big thorn in trade relations between China and the West.
October 22, 2010
Solar Frontier is a subsidiary of Showa Shell Sekiyu and is listed on the Japanese Stock Exchange.The Company has big plans for the Solar Energy Market planning to increase its capacity by more than 10 times in 2011 to around 1 Gw in total.All its 3 plants are located in Miyazaki in Japan and uses previous plasma plant of Hitachi.Solar Frontier claims 11.5% efficiency for its CIS modules which are expected to go upto 14% by 2014.The Company is spending around $1 Billion in Capex for building the 1 GW capacity implying roughly $1 capex/watt which is not exactly cheap though not very expensive either.Note Thin Film Competition is hotting up with Saint Gobain-Hyundai,TSMC,Miasole,Oerlikon Solar,Sharp,Nanosolar all making plans for huge capacity expansion in the next couple of years.Solar Frontier has signed some small deals for supplying 1-3 MW in Thailand,Japan and Australia Recently.However the cost structure of the company is not known till now just like Sharp.While Solar Frontier looks good on the capacity and partnerships front,it has still to prove itself on costs to really push the Chinese Solar Companies which are dominating the Solar Scene right now with their low cost polysilicon panel production.Note 60% of the Solar Panel Production in Q210 was estimated to be done by Chinese based manufacturers.
October 22, 2010
While Section 301 was a powerful, unilateral U.S. trade policy weapon prior to the establishment of the WTO dispute settlement process, since 1995 it has rarely been invoked and has not produced any sanctions or WTO cases. In a post-WTO world, therefore, the USW petition could be said to be unprecedented. It is the first to be accepted by USTR that, if proven, would, invalidate for WTO purposes what amounts to a national industrial policy. It would seriously undermine the validity of China’s efforts to create “national champions” in certain sectors, to focus on building domestic capacity to address its environmental and energy challenges, and to be a significant, and possibly the dominant, global player in green technologies. Beyond the impact on China, a successful U.S. challenge in the WTO would inevitably chill similar efforts in other countries to use the Chinese industrial development template in other sectors. All of these effects are above and beyond the question of the immediate fall-out that could result if China declines to implement an adverse WTO finding and the U.S. compensation and retaliation is authorized.
October 22, 2010
Surprise Surprise : Indian Real Estate Company Emaar MGF implicated in the Massive Commonwealth Scam
Indian Real Estate Companies have the worst reputation amongst the different sectors in India.Corruption,Irregularities,Creative Accounting,Defrauding Consumers,Tax Raids are common to these companies.In fact the financial statements of the Realty Sector are considered so untrustworthy that some Fund Mangers are loath to invest in the whole sector.Despite a Stock Market Bull Run,a line of Realty Companies have not still managed to raise money from the primary markets because of the distrust with which the general public regards them.A Truly Dubious Achievement for the Real Estate Sector in India.Note both small developers and big developers have been involved in scams and shenanigans.2 Real Estate Companies in the National Capital Region Oreo and Emaar MGF,two of the better known Realty Companies have come under the focus of Indian Investigative agencies.Emaar MGF has been trying to do an IPO for a long time without success.Now it has come under the scanner for irregularities for construction of the Commonwealth Games Village.
October 22, 2010
Microfinance has become one of the hottest growth sectors in India attracting Private Equity Companies eager to take advantage of India's Growth Story.A Number of For-Profit Microfinance Companies have grown exponentially in recent times with funds raised from Foreign PE Firms.The Business Model of these Financial Intermediaries is highly profitable with 25-40% Interest Rates being charged from India's Poor Population who don't have access to credit facilities.Borrowing from Banks at 10-12% and lending at 25% gives a huge spread which more than covers the cost of operations in dealing with a huge number of very small borrowers in far flung areas.The recent IPO of SKS Microfinance was a huge success instantly makings it promoters instant millionaires.The stock which was expensively valued nonetheless managed to climb by almost 40% in the last 2 months.It brought into focus the whether making such huge profits through essentialy usury from the poor was ethical or not.
October 22, 2010
The JV with the Adani Group is a win-win for both companies.Adani Group is setting up 16000 MW of Thermal Based Plants in India over the next few years and has also planned a 100 MW Solar Plant in Gujarat.It has started a company Adani Renewable Energy to take forward its Green Energy initiatives.The tie-up with Siemens will allow it to access cutting edge Green Technology while Siemens will get a huge customer for its Energy Equipment.Renewable Energy in India is a huge growth opportunity considering that India will have to increase its Renewable Energy by almost 45 GW over the next 10 years if it has to meet 15% of its Electricity Requirements from Green Sources as mandated by the CERC.
October 22, 2010
South Korea has said that it would reduce its dependence on China for rare earth minerals.The Country has reduced imports of Rare Earth Minerals from 7398 tons in 2005 to 2655 tons in 2009.Note most of the reduction came after South Korean Chaebols Samsung and LG shifted their production from CRTs to LCD and Plasma Display Panels.The country now imports 65% of its REE requirements from China and most of the rest from Japan.The country plans to increase cooperation with traditional ally USA and Japan to meet future demand for these commodities.However I have my doubt whether South Korea can reduce its dependence.South Korea has embarked on a major Green Stimulus which is the biggest as a percentage amongst Developed Countries.This is going to mean increased demand for rare earth minerals which are essential for Magnets in Wind Turbines and Batteries and Catalytic Converters for Electric Vehicles.Japan is already planning huge investments into developing alternate supply sources,perhaps South Korea needs to show that urgency as well
October 21, 2010
Haryana is one of the richest states in India strategically located near India's capital of Delhi.Haryana cities like Gurgaon and Faridabad have benefited hugely from being part of India's National Capital Region (NCR).However Haryana only generates 0.5% of its 4000 MW of Electricity from Renewable Energy Sources.The state has negligible Wind or Biomass Energy.Despite a Department of Renewable Energy being setup to specifically promote the use of Alternative Energy Sources,the state has not had much success.Haryana is richly endowed with Solar Energy Resources with 320 days sunny days.The State has managed to win some allocation from the centre's JNNSM scheme.It is also promoting the use of solar energy through disseminating solar kits amongst 2000 schools and providing solar lighting in around 500 villages.Note India had already made it mandatory for 6% of the Energy to be generated from Renewable Energy Sources.Haryana has a long way to go and might have to buy a huge amount of expensive Renewable Energy Certificates (RECs) unless it gets its act together.
October 21, 2010
The HPUC has given a FIT rate which is quite low for solar energy and has failed to implement a policy for installations between 500-5000 KW.Also the FIT rates for Concentrating Solar Power (CSP) does not make sense at all for under 500 KW installations.Don't think there exists a single decent producer of such small CSP plants.The FIT Policy was passed despite stiff opposition from the island's utilities who questioned the Feed in Tariff as a good Green Incentive.The huge success enjoyed in Europe by FIT did not make a big impression.Note 80% of the world's solar installations depend on Feed in Tariffs.While there have been bad implementation cases of FIT in Spain and Czech,there have been huge successes in other countries like Germany and UK.HPUC rightly decided to go ahead as trial and errors would be needed . It won't lead to a huge boom in solar in Hawai due to poor returns however it should lead to some boost to existing solar producers or those who were going to install solar anyway.
October 21, 2010
India does not have a lot of good information on the Internet about various common things and it is frustrating and time consuming to go about in choosing the right option.I tried to buy insurance on my 3 year old car and there was not a lot of good blogs/websites which would indicate how to go about buying the cheapest car insurance out there.Most of the websites and insurance comparison websites that have come up are in general biased and promote companies in order to generate commissions.So I decided on doing investigation on my own and finally managed to get extremely cheap car insurance which even surprised me.So even though this blog does not deal with personal finance issues much,I though I would write my experience so that others could benefit without without wasting time and money.
October 21, 2010
Food Prices are rising at an incredible pace around the world due to a combination of money printing by the USA and Bad Weather in Russia and Asia.The major cause of the Food Price Increase has been the global rush towards investing in commodities as currencies get devalued by countries eager to increase exports in a zero sum game.Wheat Prices were the first to rise after Russia stopped exports leading to the sharpest gain in the last 2 years.Corn prices have increased with increased demand from ethanol,bad harvests and relentless QE.Rice and Soybean prices were bound to rise in empathy with other grain prices.Note these two food varieties are substitutes of corn and wheat.So it makes sense for speculators and consumers to increase the demand for these 2 commodities as well.
Rice Price Increase after Flooding in Biggest Exporters
Rice Prices have shown a record increase after floods sharply reduced output in the 2 main exporter Vietnam and Thailand.With inventories being sharply cut and harvests going down it is not much of a surprise.Rice importing countries like Philippines will be badly hit as their per capita income is quite low and they have a large poor population highly sensitive to increasing food prices.Expect 2011 to be a Hunger Year for a large chunk of the world's population thanks to Ben Bernake and print his way to prosperity team.