Saturday, September 1, 2012

Where the smart money's going: food price speculation!

There's a story in the Independent about how Barclay's, the British super-bank at the heart of the recent Libor rate-fixing scandal, has made over 500 million pounds speculating on a food crisis.

Barclay's themselves have acknowledged that commodity speculation is a factor in food price inflation. Another factor is the great ethanol hoax. Lets create a market for corn-for-car-food to compete with the corn-for-people-food market. What a stroke of genius that was!

At least the millions-per-year suits who are putting these food funds together are gaining valuable "business" experience for their future forays into politics.


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