HOW GOLDMAN SACHS & BANKERS STARVE THE WORLD !
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Underlying the uprising in Egypt and Tunisia is a growing global crisis due to soaring food prices and unemployment. Roughly 40% of Egyptians struggle at poverty levels of under $2 per day. Food price inflation in Egypt is currently at 17% yearly. In poor countries, 60-80% of people's incomes go to food, compared to 10-20% in industrial countries. An increase of a dollar in the cost of food can mean starvation for people in Egypt and other poor countries.Once, food was considered a poor speculative investment but that changed with the development of ETFs (exchange-traded funds) and other financial innovations.
Frederick Kaufman wrote:
''The history of food took an ominous turn in 1991, when Goldman Sachs came up with the commodity index fund, a way for them to accumulate huge piles of cash for themselves. . . .
Instead of a buy-and-sell order, like in all markets, they just started going long on wheat futures. . . . And every time one of these contracts came due, they would "roll it over" into the next contract. . . .
And they kept on buying and accumulating this unprecedented pile of long-only wheat futures. Usually prices go up because supply is low . . . . In this case, Goldman and other banks created this completely artificial demand to buy wheat, and that set the price up. . . .
wheat generally trades between $3-6 per bushel. It went up to $12, then $15, then $18. Then it broke $20. And on February 25th, 2008, hard red spring futures settled at $25 per bushel. . . . [T]he irony here is that in 2008, it was the greatest wheat-producing year in world history
And so, as billions of people starve, they use that money to make billions of dollars for themselves.''
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Ask the Egyptian to grow their own crops!! Complain what?
It is Egypt not Singapore. They dont have to depend on import for their own food. So wake up your idea.
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i'm talking about rising food prices worldwide being due to banks' manipulation of the commodities market.............
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In the first place millions of americans are suffering under poverty and those dumbarses up there in mega banks like goldman saches are sucking up funds by the billions whilst firing half the company when they 'feel' like it. they underpay the whole company for their own villas and stuckup wiveys. USA is in the state she is in now because of how the ppl at the top are too greedy, too complacent and to lazy to progress and instead just sleep like pigs and line their own pockets. the average american barely earns enough to support himself and his family; the average goldman sachs boss earns billions a year, regardless of how bad the company is doing. annual million dollar retreats for the top ppl in the company despite a downturn in performance. explain that.
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Originally posted by Asromanista2001:
Underlying the uprising in Egypt and Tunisia is a growing global crisis due to soaring food prices and unemployment. Roughly 40% of Egyptians struggle at poverty levels of under $2 per day. Food price inflation in Egypt is currently at 17% yearly. In poor countries, 60-80% of people's incomes go to food, compared to 10-20% in industrial countries. An increase of a dollar in the cost of food can mean starvation for people in Egypt and other poor countries.Once, food was considered a poor speculative investment but that changed with the development of ETFs (exchange-traded funds) and other financial innovations.
Frederick Kaufman wrote:
''The history of food took an ominous turn in 1991, when Goldman Sachs came up with the commodity index fund, a way for them to accumulate huge piles of cash for themselves. . . .
Instead of a buy-and-sell order, like in all markets, they just started going long on wheat futures. . . . And every time one of these contracts came due, they would "roll it over" into the next contract. . . .
And they kept on buying and accumulating this unprecedented pile of long-only wheat futures. Usually prices go up because supply is low . . . . In this case, Goldman and other banks created this completely artificial demand to buy wheat, and that set the price up. . . .
wheat generally trades between $3-6 per bushel. It went up to $12, then $15, then $18. Then it broke $20. And on February 25th, 2008, hard red spring futures settled at $25 per bushel. . . . [T]he irony here is that in 2008, it was the greatest wheat-producing year in world history
And so, as billions of people starve, they use that money to make billions of dollars for themselves.''
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Googoo.......................people already know you're nothing more than a naive ignorant clown.......................no need to prove it some more