A dovetail joint of news, art, science, politics, philosophy & global affairs

Grasping the currency true to our time

"Πάντα ῥεῖ καὶ οὐδὲν μένει"







June 8th
8:25 AM

Bankers and politicians have turned food into a betting game

Understanding why food prices are rocketing again – with the cost of wheat and maize up around 70% in the past year – so soon after the bubble of 2008 should make us look more closely at what’s changed in the food market.

…The past decade has seen something remarkable happen: sharp-elbowed bankers and gullible politicians in America and Britain have turned basic foodstuffs into something to bet on. The result has been mayhem and starvation in Africa and Asia. There were riots in more than 30 countries three years ago, and a spike in world hunger. As commodity prices surge again, I wouldn’t bet against a re-run.

"Food markets have been turned into a casino," Joerg Mayer of Unctad told me last week. “And for no other reason than to make Wall Street money.”  >continue<

New UNCTAD report on the global food crisis  |  When the Nile Runs Dry

  1. catering-stockholm reblogged this from zeitvox
  2. ambergerchild reblogged this from pantslessprogressive
  3. coolyourbears reblogged this from socialuprooting
  4. mattantinucci reblogged this from reagan-was-a-horrible-president
  5. reagan-was-a-horrible-president reblogged this from silas216
  6. childrenswear reblogged this from socialuprooting
  7. rubyvroom reblogged this from guerrillamamamedicine
  8. lonelyvagabond reblogged this from bbalgangyi
  9. ericmano reblogged this from bbalgangyi
  10. letthetruthlaugh reblogged this from pantslessprogressive
  11. gazelles reblogged this from pantslessprogressive
  12. inactivegrokeseverywhere reblogged this from thatgirlwhousedtoposton
  13. silas216 reblogged this from pantslessprogressive
  14. manzanasverdes reblogged this from thatgirlwhousedtoposton
  15. randomactsofchaos reblogged this from pantslessprogressive
  16. sex-politics-society-me reblogged this from pantslessprogressive
  17. calcatrixcrownd reblogged this from pantslessprogressive
  18. intelligibledirigible reblogged this from thatgirlwhousedtoposton
  19. ahandsomestark reblogged this from thatgirlwhousedtoposton
  20. sibbotery reblogged this from pantslessprogressive
  21. treatyoselfartie reblogged this from pantslessprogressive
  22. liberalgirl reblogged this from pantslessprogressive and added:
    For fuck’s sake, when are we properly going to regulate Wall Street?
  23. lycanpedia reblogged this from pantslessprogressive
  24. immortalnewsspork reblogged this from pantslessprogressive
  25. paapaaayaaaa reblogged this from pantslessprogressive
  26. pantslessprogressive reblogged this from zeitvox and added:
    Also read: How Goldman Sachs Created the Food Crisis by Frederick Kaufman at Foreign Policy.