Yeah, rising food prices has nothing to do with the fact that due to the AGW hoax, America now burns a huge amount of crops in the form of ethanol. It really the evil rich’s fault. Uh huh.
I don’t know a lot about banking, etc—but something tells me that this entire article is pure BS!
As ranchers became increasingly desperate to feed their livestock, "hay rustling" and other agricultural crimes rose.
You can easily deduce that the author is a Leftist ideologe when he writes a story like this and does not include a single sentence about the thousands of tons of corn being burned as ethanol simply as a political balm to the Environmental Left.
Is what Goldman Sachs did illegal?
A for this entry, should anybody be gored for making a good investment? This presupposes that Goldman Sachs did not have the power to cause or ameliorate the conditions upon which they made their profit (which I think is unlikely!) Would this gent have been equally incensed if they had made their bet the other way and lost a bushel of money?
This can't be true. The GE promoters told us they would lower costs and feed the world. /sarc/
Hundreds of million starved? At that rate the world’s overpopulation problem will solve itself in a couple of years.
Pure alarmist drivel. The question is: Would there be more food available for consumption in 3rd world countries if G.S. withdrew from the derivatives market? Or less? The fact is that G.S. investments enable more farmers to take risks in planting crops.
It should be pointed out that this story originates from Russia Today, a Russian government financed outlet designed to improve Russia’s image abroad. RT also sends its ‘journalists’ out for employment in MSM media outlets.
It is the outlet for Julian Assange’s attacks.
I’ve been told numerous times in a very condescending manner here on FR that there is no speculation behind food prices rising.
Oh well, this sort of thing hitting the news cycle will likely put something of a damper on the next bizarre speculative spike in ag commodities, the amoral b-tards. They’ll have to collectively alight on something else to keep the seven figure bonuses rolling in.
Hundreds of millions? You mean the same number of children killed by NRA members each year?
OMG! Which evil firm lost 400 million dollars betting on food prices last year?
Because, you know, derivatives are a zero sum game.
I wonder if this might be responsible for rising food prices? You know, that whole supply and demand thingie.
Nah, must be dat ebil Goldman Sachs.
I wish I had the foresight DS had...then again even if I did I don’t have enough money to do anything about it...
It’s up to every individual to make their own way in this world, let the leaches starve.
Pure Marxism. According to the true believers, speculative investments (as all investments in stock certificates are) are immoral, because they are unproductive, in the sense that they don’t contribute to something like the electrification of the country, Lenin’s prime objective in Russia. Off with their heads! This is no joke, this is a glimpse into the minds of people like Obama, and his whisperers Ayers and Valerie.