Commenting on social, political, economic and general topics

Big Bank Food Speculation: U.K. Blocks Move to End Rising Prices*

leave a comment »

Who do the Tories think they are? They are an unelected government, seizing power through a so-called coalition and then begin the destruction of our welfare state, increased poverty and ill-health but not satisfied with this, they now influence rules which will help some of the poorest, hungriest people in the world, just so their rich wbanker mates can turn a fast buck!

Hwaairfan's Blog

Big Bank Food Speculation: U.K. Blocks Move to End Rising Prices*

FoodlessThe UK is being accused of attempts to block EU reform to prevent food speculation. It took EU negotiators three years to agree on a regulation against speculation by banks and hedge funds which drives up food prices, aggravating the global hunger crisis.

The deal introduces new rules to limit speculation on products linked to what people eat, such as wheat, corn, soybeans or sugar. The new controls will set limits on the number of food contracts that banks and other finance institutions can hold, pushing traders to open their activity to greater public scrutiny.

Representatives of the EU’s 28 governments and EU lawmakers clinched the deal on the outlines of the Markets in Financial Instruments Directive (MiFiD) in Strasbourg late on Tuesday. The bloc’s executive arm, the European Commission, has promised that the rules on agricultural derivatives would

View original post 678 more words


Written by Smiling Carcass

05/07/2014 at 9:57 PM

Posted in Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: