Barclays speculates on food by buying and selling contracts in financial markets, which were originally designed to offer a kind of insurance against changing prices for food producers and consumers. But deregulation in the last decade has allowed Barclays and other big banks (like Goldman Sachs and Morgan Stanley) to dominate these markets with their immense funds. Global speculation on food has almost doubled in the last five years; the global investment volume currently amounts to USD 126 billion. The result has been dramatic increases in food prices that have plunged communities in poor regions of the world into even more severe hunger and poverty. Speculating on food is estimated to earn Barclays up to USD 530 million each year. Barclays also boasts about enabling market access for other big investors such as pension funds. The bank enjoys close ties to the UK government, holding 15 meetings with finance ministers within their first year in office. With such close links to banks like Barclays, it’s no surprise that the UK government is refusing to support proposals for European regulation that would effectively curb food speculation.
no subject
Barclays speculates on food by buying and selling contracts in financial markets, which were originally designed to offer a kind of insurance against changing prices for food producers and consumers. But deregulation in the last decade has allowed Barclays and other big banks (like Goldman Sachs and Morgan Stanley) to dominate these markets with their immense funds. Global speculation on food has almost doubled in the last five years; the global investment volume currently amounts to USD 126 billion. The result has been dramatic increases in food prices that have plunged communities in poor regions of the world into even more severe hunger and poverty. Speculating on food is estimated to earn Barclays up to USD 530 million each year. Barclays also boasts about enabling market access for other big investors such as pension funds. The bank enjoys close ties to the UK government, holding 15 meetings with finance ministers within their first year in office. With such close links to banks like Barclays, it’s no surprise that the UK government is refusing to support proposals for European regulation that would effectively curb food speculation.
I don't know, first time I hear about think bank.