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.
No comments:
Post a Comment