Wednesday, 10 October 2012

The international lie about rising food prices due to "weather conditions"

...getting a headache of reading headlines about rising food prices due to "weather conditions" in German, UK as well as Brazilian news.

Lies. And lies. And lies.

The reality: Gambling banks, hedge and pension funds spike global food prices: “The World Development Movement blames banks, hedge and pension funds for betting and gambling on food commodities and forcing the price of basic food items to soar causing global hunger and poverty to increase.

The World Development Movement blames the unprecedented 10% rise in staples on the banks, hedge & pension funds (...) that bet on food prices in financial markets, causing price highs and lows in (basic)  foods such as wheat, maize and soy granting them huge profits but at the same time causing hunger and poverty for millions around the world.

They state (...) that in the last six months of 2010 alone, more than 44 million people were driven into extreme poverty as a result of rising food prices.”

Although, clearly, adverse weather conditions do affect harvests and food prices as do geopolitics, The World Development Movement report, July 2010, The Great Hunger Lottery - How banking speculation causes food crises presents the argument of how financial speculation and derivatives trading on food commodities, although lucrative for some, affect global food prices by causing price spiking which leads to unaffordable food prices for low-income families especially in developing countries relying on food imports.”

(Read more:

In fact, there is more than enough for all of us but billions of tons of food are thrown away every single day to keep the "bad weather lie" alive.

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