Speculating with our Food

31 May

To read this post, to listen to the video from Emergent Asset Management Ltd. and to send a message to the World Bank about looking after people rather than corporations. All I can think of is reblogging this post in the hope that maybe a few more bloggers might look at it and think about it.

The Most Revolutionary Act

In 2011, “food derivative” speculation replaced financial derivatives as the hot new investment promoted by major investment banks like Goldman Sachs and JP Morgan. According to numerous studies, food speculation rather than shortages, are the main reason for skyrocketing food costs.

The really scary news is that in addition to speculating heavily on food commodities, these same private equity funds are also buying up huge tracts of land in the third world.

The Great Land Grab

A 2009 research project by the Oakland Institute (The Great Land Grab) reveals startling facts about the corporate land grab in the third world – another major factor in skyrocketing food prices.

According to the International Food Policy Research Institute (IFPRI), foreign investors have secured more than 50 million acres of African farmland to develop factory farms for export crops. In addition to investment banks and private equity funds, multilateral agencies…

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4 Responses to “Speculating with our Food”

  1. giselzitrone June 1, 2014 at 4:50 am #

    Danke dir liebe Ute für deinen Besuch ich wünsche dir einen schönen Tag und ein gutes wee-kend ich hoffe es geht dir gut sind an der Ahr etwas Wandern heute war schöner Sonnenschein.Liebe Grüße noch und einen guten Sonntag.Gruß Gislinde

  2. auntyuta June 1, 2014 at 7:27 am #

    Ich wünsche dir noch viel Spass beim Wandern, liebe Gislinde. Unser Samstag war angenehm. Wir besuchten eine hübsche kleine Ortschaft wo wir schon seit zwei Jahren nicht mehr gewesen waren.
    Der Sonntag scheint verregnet zu werden. Das macht aber nichts. Wir hatten einen sehr schönen Mai mit viel Sonnenschein. Hab noch einen recht schönen Sonntag!
    Liebe Grüsse, Uta 🙂

  3. stuartbramhall June 1, 2014 at 10:48 am #

    Thanks for reblogging.

  4. berlioz1935 June 1, 2014 at 12:54 pm #

    This behaviour is called “cornering the market”. They think it is smart. I think it is disgusting and stealing because people have to pay with their work for the higher prices.

    John Steinbeck, in “East of Eden” describes that someone bought beans in anticipation of the war.

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