Why has the price of a loaf of bread shot up by more than 20p?
Wheat harvest failed. Do you believe it?
In Ancient Egypt, the granaries were stocked up in good times to offset the times when the harvest might fail.
It is a safe bet that granaries somewhere (USA?) are full, but it is a very good way of manipulating prices, isn’t it?
Apart from that, supermarkets throughout the UK are making obscene profits daily.
You would think they could afford to subsidise a staple food like bread!
Yet another ‘rip-off’!
Comment
Up until the 1990's Futures, the trading of foodstuffs could only be conducted by farm traders. The system worked by paying the farmer the same amount for his crops should he have a bumper harvest, or experience crop failure.
However, when Goldman Sach were forced to offload its toxic subprima mortgages onto unsuspecting banks; they needed to replace their loss of income.
For two years they carried out a campaign of intense lobbying to have the ban on speculating on futures lifted.
Once it was lifted, scumbags such as Goldman Sach, and Meryl Lynch were free to buy up whole harvests and so manipulate market prices.
Every time you read of famine and see pictures of children starving, ask yourself, how much of it is the result of Goldman Sach's greed?
Yes, Evelyn, grain is still stored, but only hoard and cause a shortage and force up prices.
