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Billions In Profit Out of Global Food Crisis #279289
05/04/08 03:22 PM
05/04/08 03:22 PM
Joined: Apr 2000
Posts: 8,868
SP Daily Offline OP
SP Daily  Offline OP
Speculators blamed for driving up price of basic foods as 100 million face severe hunger
by Geoffrey Lean
Giant agribusinesses are enjoying soaring earnings and profits out of the world food crisis which is driving millions of people towards starvation, The Independent on Sunday can reveal. And speculation is helping to drive the prices of basic foodstuffs out of the reach of the hungry.

Re: Billions In Profit Out of Global Food Crisis [Re: SP Daily] #279299
05/04/08 09:12 PM
05/04/08 09:12 PM

Interesting article. With all the talk and controversy about GM foods there has rarely been any talk about the prime driver behind it, and certainly no admission or even acknowledgement by the main proponents, the multi-nationals like Monsanto.

That is that GM crops are designed to be sterile, so that instead of the age-old practice of using part of each year's crop to seed for the next, the farmers have to buy a fresh load of seed. Into perpetuity.

How these companies managed to pull the wool over the eyes of so many governments is beyond belief - unless bribery took a part.

Re: Billions In Profit Out of Global Food Crisis [Re: ] #279331
05/05/08 10:04 AM
05/05/08 10:04 AM
Joined: May 2000
Posts: 3,281
Barbara K Offline
Barbara K  Offline
more than you ever want to know about GM foods and the pressure to get them into every country. very scary stuff.

Re: Billions In Profit Out of Global Food Crisis [Re: Barbara K] #279351
05/05/08 01:22 PM
05/05/08 01:22 PM
Joined: Nov 2002
Posts: 2,507
Short Offline
Short  Offline
Central bankers sound alarm over food prices:

"Food pressures could be one of the most serious problems that we have to face now," said Polish National Bank President Slawomir Skrzypek.

"Food pressure is a global problem, we have to observe, monitor, but we cannot use monetary policy tools to manage this problem."

Commodity price rises are fuelling historically high inflation rates from the euro zone to China and creating a headache for central bankers also concerned about the economic impact of nine months of financial market turmoil.

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