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Patriotxi
02-02-2011, 10:03 PM
http://www.youtube.com/watch?v=y76pcbccuTo
While bankers are reaping huge profits from betting on food, poor families across the world are paying the price of hunger and malnutrition. The largest banks at the center of the commodity speculation are Goldman Sachs, Bank of America, Citibank, Deutsche Bank, HSBC, Morgan Stanley, and JP Morgan.
As agriculture commodities surge, many people are worried about paying more at the supermarket.

dannno
02-02-2011, 10:16 PM
I call bullshit. He's blaming price increases on speculators instead of currency inflation.

pcosmar
02-02-2011, 10:27 PM
NOT ABOUT FOOD

But the talking heads say it is about food and unemployment. or radical Islam.

They ignore this,


http://www.youtube.com/watch?v=eBg7O48vhLY


http://www.youtube.com/watch?v=1UUbVr3eB9c

college4life
02-02-2011, 10:29 PM
danno i agree, governments always blame "speculators" and not their devilish attempts to ruin the currency

Fox McCloud
02-03-2011, 12:00 AM
speculators benefit the economy, in the long run--it's only viewed as negative when prices go up, at first, when it's first legalized.

That said, a market is much more prone to shock when speculation is forbidden, as prices will trend towards being far more short term based than long-term.

That said, if there ends up being a shortage or a disaster, the benefits of speculation become clear; it tends to flatten prices--in the absence of speculation, prices would be even higher during times of crisis: http://mises.org/daily/4466

it's really quite an amazing development in the commodity/stock market that benefits everyone.

it will also trend towards causing food to be used for best purposes, as opposed to frivolous ones, just as in stock speculation: http://mises.org/daily/2381

hugolp
02-03-2011, 01:07 AM
I call bullshit. He's blaming price increases on speculators instead of currency inflation.

The problem is that currency devaluation, inflation, manifest itself through rampant speculation and that pushses people to blame the spceculators. But really, what were the policitians thinking when they gave all that money to the banks? In this environment the banks have started buying real goods, commodities, including food. It was obvious that is you give a lot of money to this companies they were going to turn and start buying basic stuff like food and drive the price up.

Fox McCloud
02-03-2011, 01:49 AM
The problem is that currency devaluation, inflation, manifest itself through rampant speculation and that pushses people to blame the spceculators. But really, what were the policitians thinking when they gave all that money to the banks? In this environment the banks have started buying real goods, commodities, including food. It was obvious that is you give a lot of money to this companies they were going to turn and start buying basic stuff like food and drive the price up.

That said, even if the money were given directly to the people, they'd still likely drive up the very same commodities, and the government would still attempt to blame speculators, hoarders, farmers, and anyone else vaguely connected to the food supply chain.

Patriotxi
02-03-2011, 09:21 AM
That said, even if the money were given directly to the people, they'd still likely drive up the very same commodities, and the government would still attempt to blame speculators, hoarders, farmers, and anyone else vaguely connected to the food supply chain.
yep

pcosmar
02-03-2011, 09:34 AM
It is NOT about Food
It is about Police State Brutality. Government Corruption.

The economy is a factor but is not the reason. Listen to what the people are saying.
It is the Murders and Torture. The Corrupt Courts. Political Repression.

It is not about food.

Pericles
02-03-2011, 10:01 AM
http://www.atimes.com/atimes/Middle_East/MB02Ak01.html

This suggests a trend toward higher food prices as Asian prosperity drives up the price of wheat, leaving the Arab world with a shortage.

Feeding the Abscess
02-03-2011, 10:34 AM
It was great when Dylan Ratigan was on The Ed Show, and Ed was thuggin' it up about speckulators runnin' up the price a FOOD. Ratigan was all like "yeah, you know all that money that was printed up by the Fed isn't doing much help here or around the world, it has a hand in this," and I shit you not, Ed's response was something like "...yeah," and the interview was over. High comedy.

pcosmar
02-03-2011, 10:42 AM
Tweet this morning,

Protests are no longer about corruption, income gap or the terrible conditions the populace has been enduring. It's about dignity. #Jan25

So why isn't the richest farmland in the world exporting food anyway?