In a shocking report by Frederick Kaufman that has been featured on the Foreign Policy website, the role of Goldman Sachs and its Wall Street cohort in creating the food crisis has been revealed.
Frederick uncovers the 1991 scheme where Goldman bankers lead by Gary Cohn created a derivative that tracked 24 raw minerals; including coffee, cocoa, cattle, corn, hogs, soy and wheat and how that scheme was then manipulated to raise food commodity prices.
Each element was given a calculated investment value and is now known as the Goldman Sachs Commodity Index (GSCI). The GSCI has been a static commodity vehicle for the past decade while bankers focused their attention on collateralized debt (hello economic crisis) until 1999 when futures markets were deregulated. That’s when bankers started taking large positions in grains.
Following the money trail Frederick reports:
Food inflation has remained steady since July 2008 when there was $318 billion in the commodity markets - up from the $55 billion speculators dumped in the first 55 days of 2008. In 2003 commodities futures markets were only worth $13 billion. "You had people who had no clue what commodities were all about suddenly buying commodities," an analyst from the United States Department of Agriculture stated.
Between 2005 to 2008 worldwide prices of food rose 80 percent, and they’ve kept on rising. Olivier De Schutter, the U.N. Special Rapporteur on the Right to Food, concluded that in 2008 "a significant portion of the price spike was due to the emergence of a speculative bubble."
So as the dollars poured into the markets, bankers hedged bets on food derivates. Led by oil and gas prices which are the main commodities of the index funds, the new investment products boosted the markets of all other indexed commodities. The result: a food bubble.
More Here..
Frederick uncovers the 1991 scheme where Goldman bankers lead by Gary Cohn created a derivative that tracked 24 raw minerals; including coffee, cocoa, cattle, corn, hogs, soy and wheat and how that scheme was then manipulated to raise food commodity prices.
Each element was given a calculated investment value and is now known as the Goldman Sachs Commodity Index (GSCI). The GSCI has been a static commodity vehicle for the past decade while bankers focused their attention on collateralized debt (hello economic crisis) until 1999 when futures markets were deregulated. That’s when bankers started taking large positions in grains.
Following the money trail Frederick reports:
Food inflation has remained steady since July 2008 when there was $318 billion in the commodity markets - up from the $55 billion speculators dumped in the first 55 days of 2008. In 2003 commodities futures markets were only worth $13 billion. "You had people who had no clue what commodities were all about suddenly buying commodities," an analyst from the United States Department of Agriculture stated.
Between 2005 to 2008 worldwide prices of food rose 80 percent, and they’ve kept on rising. Olivier De Schutter, the U.N. Special Rapporteur on the Right to Food, concluded that in 2008 "a significant portion of the price spike was due to the emergence of a speculative bubble."
So as the dollars poured into the markets, bankers hedged bets on food derivates. Led by oil and gas prices which are the main commodities of the index funds, the new investment products boosted the markets of all other indexed commodities. The result: a food bubble.
More Here..
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ReplyDeleteSo y is comms on the up with the $??
ReplyDeleteIt’s simple, Flay&salt Rothschild Inc & they’ll fold (google – Rothschild silver), these creatures are truly evil
How come it has come to this, is this the culmination of thousands of years of civilization?
Fighting over fiat, IMF, oil, “fucking – spheres of influence”, wars to support fiat etc, and we are to somehow progress as humanity at the same time?
Kissinger put it succinctly in ’68 “the world needs population reduction by 1.5bn by 1996, useless eaters class has to diminish”……this is true and can be verified.
SLA…SLAY Rothschild Inc, flay and salt the bastards, buy silver or perish.
It's called capitalism. We live in a free market casino economy, where average American Joe bets against his grandmother whether she will live or not, and global-level oil disasters and radiation leaks are just a matter of profit protection and damage control/public relations. Derivatives is surely to blame for part of the mess, but that is looking at just part of the picture. It should not be any mystery by now why food prices are on the rise. Oil use continues to rise, populations continue to grow, while oil supplies deplete, and usable land also depletes, coupled with the fact that the economy is buckling at its knees.
ReplyDeleteGoldman Sachs didn't create anything, they just enabled a bunch of greedy bastards to make more money off of the world. But isn't that the modus operandi of the "free" market?
1:37 the problem is..they have trillions to bet we have only thousands. They control our destiny. If they wanted to lower the pop. they could, if they wanted to raise it, they could. Get it? We have zero control, they own us, lock stock and barrel.
ReplyDeleteNo, they don't own us. Don't fall into the victim mindset. Are the powerful? Yes. Do they break all the rules they make? Yes. But you are not entirely powerless. And soon they will find the reigns slipping away.
ReplyDeleteIt's kind of funny how people like 1:54 imagine these asocial, inbreeding, talentless idiots to be supermen with hyperdimensional powers.
ReplyDeleteThey are good at nothing. The only thing they can rely on is the manipulation tactics their great grandfathers invented for them 150 years ago.
Besides how they currently make people dumb and violent by plaguing education and entertainment with these tricks... they really have nothing else to bank on.