The World Development Movement, a UK-based non-governmental organisation (NGO), has accused Barclays Bank of profiting from world hunger by betting on food crises and helping to push food prices up.
“The real problem is not that food is becoming more expensive, it’s that money is losing value. Central banks all around the world are simply printing too much money and so you need more money to buy food. It’s not the weather, it’s not speculation, it’s the inflation that central banks around the world are creating.”
– Peter Schiff, the CEO of Euro Pacific Capital
The NGO said Barclays had reportedly made more than $800m over the past two years from speculating on food markets and that investors were using the food market as a “playground”.
It said this has contributed to hunger and poverty not only for millions in poor countries, but also in developed nations.
The allegations come on the back of a World Bank global hunger warning. According to a report by the bank released this week, global food prices have hit record highs. In July alone, its global food index increased by 10 per cent.
And the price of specific commodities has risen even faster. Corn and soybeans have reached record prices in recent days.
The World Bank lays the blame for price rises largely on the weather: drought in the US has been exacerbated by a dry summer in Russia, Ukraine and Kazakhstan.
“There are other issues that are driving prices higher: There are many of us – seven billion … we are eating much more .… You have to be completely backward not to see that we have toasted this planet.”
Comment author notstupid555
Originating Article By Ira Zunin
If FDA doesn’t approve GM salmon to at least some extent, I don’t see how you can do any of the monitoring/study work that Dr. Zunin proposes or do anything to address global hunger because there will be no GM salmon businesses and no market for sale of GM salmon.
While Dr. Zunin says he is suggesting a careful, planned approach, his advice is actually tantamount to killing the GM salmon initiative from the start. By the way, Dr. Zunin has many degrees, but is his advice based on his “science course in middle school” or actual scientific expertise and study?
For centuries botanists were unable to reproduce and ship the plant, which is native to the Pacific Islands. But a team of researchers led by Diane Ragone of the Breadfruit Institute at the National Tropical Botanical Garden in Kauai, Hawaii, has discovered how to propagate it en masse to ship to regions in Central America and Africa where it would grow best (and where hunger rates are highest). Now Ragone has 40 requests from governments, NGOs, nonprofits, and farmers across the globe to integrate the fruit.