Saturday, Sep 01, 2012
More Casino Culture from the Banksters
Independent: Barclays makes £500m betting on food crisis
Barclays has made as much as half a billion pounds in two years from speculating on food staples such as wheat and soya, prompting allegations that banks are profiting handsomely from the global food crisis. Barclays is the UK bank with the greatest involvement in food commodity trading and is one of the three biggest global players, along with the US banking giants Goldman Sachs and Morgan Stanley, research from the World Development Movement points out. Last week the trading giant Glencore was attacked for describing the global food crisis and price rises as a "good" business opportunity. (Don't write to your MP, they are too busy sucking up to them).
Posted by alan @ 05:36 PM (1085 views) Add Comment
5 Comments
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1. happy mondays said...
Nothing like speculating on peoples suffering.. Morals & Ethics are words unknown in the banking world, Death & destruction, poverty,greed are words they probably recognize, but disguised & kid themselves, it's just business..
2. icarus said...
Was this the amount of profit Barclays made for its clients or the amount of fees/commissions Barclays made from those clients?
3. mark said...
it is no different than betting on a horse?
4. enuii said...
It is totally different to betting on a horse, horse runs round a field with a little person on its back. Speculating on food/commodities drives up the price for the end user with the immoral profit going strait into the trousers of what are commonly called 'Bankers'. Western consumers end up paying more (with less money to spend elsewhere thus endangering jobs etc) and those less fortunate in monetary terms to either starve or riot.
So in my opinion horse racing is harmless fun, speculating on food is immoral.
5. mark said...
the pain the poor horses go through to have some fat tw** sit on its back while they thrash it so they can win money