The word again today is GREED.
Frederick Kaufman’s piece for Foreign Policy examines how the Goldman Sachs Commodity Index (GSCI) is responsible for the increase in food prices.
The result of Wall Street’s venture into grain and feed and livestock has been a shock to the global food production and delivery system. Not only does the world’s food supply have to contend with constricted supply and increased demand for real grain, but investment bankers have engineered an artificial upward pull on the price of grain futures. The result: Imaginary wheat dominates the price of real wheat, as speculators (traditionally one-fifth of the market) now outnumber bona-fide hedgers four-to-one.
via Boing Boing