Actually, the option to save the blood from within the umbilical cord is now available but not as a regular thing. You have to request it and hope your insurance covers it. Cord blood does indeed contain stem cells for red and white blood cells along with platelets. As far as placenta goes, we're one of the few species that does not eat our own placenta. Other critters will eat it as it is highly nourishing and helps with lactation. I, myself, wouldn't eat it though. Sounds a bit too gross to me :)