Another parasitic move by banks now literally feeding on other people's food. A Goldman Sachs trick mentioned on a TV docu (that made me post this) : buy so much volume without selling, that there is an artificial shortage that drives up the prices and the cashing-in can start. While people in poor countries depending on imported wheat (Tunesia for instance) get hungry....Want to stop banks gambling on food prices? Try closing the casino
Recent price spikes in global food commodities – most notably the bubbles of 2008 and 2010-11 – have exposed a fundamental fault of economic analysis: although speculation in the world's food supply has long been suspected, no one has been able to prove it. The world's most precious resources may have been transformed into a casino for high rollers such as Goldman Sachs, JP Morgan Chase, Barclays and Deutsche Bank, but it's nearly impossible to figure out who is betting how much.
[.....]
Say no more.
A good comment below the article says it all IMHO, i.e. the first and on top by "cpp4ever":
We are talking about criminals who pushed for, and benefit from, a type of "deregulation" not to empower free market capitalism and protect it from government, overregulation and criminality, but to enlarge the territory where other people can be robbed more effeciently and in much much greater volumes.All of which leads to the inevitable conclusion that the only way to stop speculation in food commodities is neither high-level debate nor regulation – how quaint and New Dealish – but criminalisation.
When the politicians are in the pocket of these very big money speculators do you really think anything is likely to change any time soon? Unfortunately it would appear that both supposed Democracy and Free Market Capitalism are failing the majority of people. How bad things have to get before anything changes is anyone's guess, but currently by the time that tipping point arrives things look like they will be a whole lot worse.
We need an AnonymousTrippleA group to get them down, exposed and in court. Fighting them only from the outside-in is a lost battle of course. We also need infiltrators, molls. Maybe a few people working in those Casino's can be bribed and become informants?!! And of course get those computernetworks alias "blackboxes" down where the trade happens.