How Investment Houses Speculated on Starvation of the Poor
GRAIN SILOS IN DEXTER, IOWA
Photograph by LOREN ANDERSEN
July 3, 2010 — This is the story of how some of the richest people in the world – Goldman, Deutsche Bank, the traders at Merrill Lynch, and more – have caused the starvation of some of the poorest people in the world,” writes Johann Hari in The Independent (UK).
“It starts with an apparent mystery. At the end of 2006, food prices across the world started to rise, suddenly and stratospherically. Within a year, the price of wheat had shot up by 80 per cent, maize by 90 per cent, rice by
320 per cent.”
“In a global jolt of hunger, 200 million people – mostly children – couldn’t afford to get food any more, and sank into malnutrition or starvation. There were riots in more than 30 countries, and at least one government was violently overthrown.”
“Then, in spring 2008, prices just as mysteriously fell back to their previous level.”
“Jean Ziegler, the UN Special Rapporteur on the Right to Food, calls it ‘a silent mass murder’, entirely due to
‘man-made actions’.” Continue reading…
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