FEAR: Al-CIA-Duh Targets Wall Street Food Speculators (Sympathy Ploy? Timing Coincidence or Timed?)

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BANKS AND HEDGE FUND SPECULAITON CAUSES FOOD PRICES TO SOAR
Speculation on agricultural commodities by banks and hedge funds is primarily responsible for spikes in food prices. Strong national and global civil society campaigns are needed to ensure governments take coordinated action to rein in this dangerous activity, writes Tim Jones
22nd November 2010

ONE MONTH PRICE INCREASES
In just one month in July 2010, the price of wheat increased by 60%. The huge increase in the price has already led to people across the world paying more for the staple food. The sudden change in the price of wheat has had knock-on effects on other crops. The global maize price increased by 40% between the start of July and the end of August.

PLENTY OF WHEAT
Drought and the consequent fall in Russia's wheat crop were quickly blamed for the spike in prices. Yet the United Nations Food and Agriculture Organisation (FAO) pointed out that despite events in Russia there was still plenty of wheat in the world.[1] The US in particular was producing a bumper wheat harvest.

CULPRIT=SPECULATORS
The real reason for the large and rapid increase in wheat price lay in banks trading in exchanges in Chicago, US. Away from the wildfires of Russia, hot money flooded into the wheat markets in July 2010, betting on an increase in prices. Dan Basse of AgResource Co. in Chicago said historically low US interest rates were helping to fuel massive speculation in wheat contracts as financial institutions 'look for investable markets' amid concerns that Western economies might suffer a double-dip recession in the coming months.

The ugly face of banks and hedge funds speculating on the price of food had raised its head once again.

LOBBY FOR DEREGULATION
In the 1990s and early 2000s these regulations were weakened in the face of intense lobbying by the financial industry. For instance, in 1991 lobbying by Goldman Sachs exempted many commodity speculators from the limits on trading created in the 1930s. At the same time, new and more complicated contracts, collectively known as derivatives, were created based on the price of food. Derivatives in food, just as in property and shares, expanded massively. Further deregulation in 2000 exempted many commodity derivatives from any regulation at all.

HOUSING TO FOOD
Jayati Ghosh, Professor of Economics at Jawaharlal Nehru University, New Delhi, says: 'From about late 2006, a lot of financial firms -banks and hedge funds and others -realised that there was really no more profit to be made in the US housing market, and they were looking for new avenues of investment. Commodities became one of the big ones - food, minerals, gold, oil. And so you had more and more of this financial activity entering these activities, and you find that the price then starts rising. And once, of course, the price starts rising a little bit, then it becomes more and more profitable for others to enter. So what was a trickle in late 2006 becomes a flood from early 2007.'

MAIN BENEFICIARIES
The main beneficiaries have been banks which charge fees for arranging derivative contracts. They then use the information gained from their central role in commodities trading to gamble with their own money, often betting against their own clients. The World Development Movement has estimated that Goldman Sachs made a $1 billion profit in 2009 from speculating on food.

ARMAJARO CASE
2010 a British hedge fund called Armajaro bought huge numbers of cocoa bean contracts, pushing prices up to a record 33-year high. Armajaro even went as far as buying real food, purchasing 7% of global cocoa production for storage in European warehouses.

Armajaro was attempting to manipulate the market, hoarding a huge amount of cocoa now to push up the price and profit later.

COFFEE CASE
Another cash crop, coffee, has also been subject to big swings in price. The price of coffee traded in London shot up by 20% in just three days in early June 2010, yet there was no news about big falls in coffee production, or increases in coffee consumption. Instead, hedge funds had been betting on the price of coffee falling. This betting or speculation had depressed the price. When a large trader called the hedge funds on their bet, they were forced to buy back contracts they had sold, leading to a large and sudden increase in prices.

Category:

Education

Tags:

• Fear
• Propaganda
• PR
• Al-Qaeda
• Osama Bin Laden
• Zawahiri
• Anwar al-Awlaki
• Terrorist
• War On Terror
• Federal Reserve
• Bailout
• Goldman Sachs
• Wall Street
• Speculators
• Betting
• Gambling
• Hedge Funds
• Banks
• Commodity
• Food Prices
• Wheat
• Maize
• Bread
• Poor
• Hungry
• Malnourish
• Unemployment
• Fuel
• Protest
• Riot
• Demonstration
• Self-Immolation
• Egypt
• Sudan
• Jordan
• Yemen
• Algeria
• Tunisia
• Morocco
• Saudi Arabia
• Libya
• Syria
• Mohamed ElBaradei
• Ben Ali
• Hosni Mubarak
• Muslim Brotherhood

[VexZeez]

It's interesting how al-CIA-duh targets Wall Streets during the North Africa and Middle East turmoil cause by the Wall Street food commodity speculation. Maybe it's a ploy to win sympathy for Wall Street after the food price crisis they created (CNN propaganda blames droughts and fires in Russia plus China's growing economy for the high food prices but that doesn't explain the huge price swings).

[0xTRX007]

Osama Been Dead for years.

NO-ENEMY (Bogeyman) = NO-WAR = NO-PROFITS

AL-QAEDA = CIA & MOSSAD

The War on Terror or the Trans-Afghan Pipeline

watch?v=74lMXSde71c

Afghanistan: All About The Pipeline

watch?v=tGMzfWvpB0E

BBC now admits Al-QAEDA a NEVER EXISTED

watch?v=xvlCaHCJQeA

[0xTRX007]

Yawn.. . . more bullshit scare tactics.

[0xTRX007]

lame-stream media:

ABC = All Bullshit Channel

AP = Associated Propaganda

CBS = See BS

FOX = Full of Xenophobia

BBC = British Brainwashing Corporation

CNN = Crap Not News

NBC = Nothing But Crap

CBC= Canadian Bullshit Corporation

Propaganda Mechanics