As of March 26, we're $27,100 in the red for the quarter. Donate here to support this vital work
Subscribe here and join over 13,000 subscribers to our free weekly newsletter

Goldman profits from speculation in food derivatives
Key Excerpts from Article on Website of The Independent (One of the UK's leading newspapers)


The Independent (One of the UK's leading newspapers), July 2, 2010
Posted: July 12th, 2010
http://www.independent.co.uk/opinion/commentators/johann-har...

This is the story of how some of the richest people in the world Goldman, Deutsche Bank, the traders at Merrill Lynch, and more have caused the starvation of some of the poorest people in the world. At the end of 2006, food prices across the world started to rise, suddenly and stratospherically. Within a year, the price of wheat had shot up by 80 per cent, maize by 90 per cent, rice by 320 per cent. In a global jolt of hunger, 200 million people mostly children couldn't afford to get food any more, and sank into malnutrition or starvation. There were riots in more than 30 countries, and at least one government was violently overthrown. Then, in spring 2008, prices just as mysteriously fell back to their previous level. Jean Ziegler, the UN Special Rapporteur on the Right to Food, calls it "a silent mass murder", entirely due to "man-made actions." Through the 1990s, Goldman Sachs and others lobbied hard and the regulations [controlling agricultural futures contracts] were abolished. Suddenly, these contracts were turned into "derivatives" that could be bought and sold among traders who had nothing to do with agriculture. A market in "food speculation" was born. The speculators drove the price through the roof.

Note: Some researchers speculate that the global elite are aware that alternative energies will eventually replace oil, which has been a prime means of control and underlying cause of many wars in recent decades. So as a replacement for oil, the elite and their secret societies are increasingly targeting control of the world's food supply through terminator crops which produce no seed, and through the patenting of seeds.


Latest News


Key News Articles from Years Past