Goldman Sachs, the food crisis, and offshore London
May 4th, 2011
Take a look at this article in Foreign Policy magazine, arguing that Goldman Sachs helped create, and profit hugely from, vast speculative markets in grain and other agricultural commodities, causing food prices to rise, with terrible effects. Goldman, it seems, helped turn a commodity derivatives market worth a sleepy $13 billion in 2000 into a half-trillion-plus market inside eight years. It continued:Continue Reading
"Today, bankers and traders sit at the top of the food chain -- the carnivores of the system, devouring everyone and everything below. Near the bottom toils the farmer. . ....