Tag Archives: food speculation

Wall St. dilutes Dodd-Frank: Occupiers should demand food speculation ban


Paul Jay interviews Bob Pollin of the Political Economy Research Institute at UMASS Amherst, who urges the Occupy movement to demand strong speculation reform. Though Dodd-Frank was passed last year, it fails to address the fundamental problems that led to the financial crisis begun in 2008 and continuing today.

On October 18, the Commodity Futures Trading Commission (CFTC) voted 3-2 to “curb banks’ and investment funds’ ability to trade commodities, though the rules were watered down after lobbying by Wall Street,” reports Financial Times. But, advises Pollin, not only will the reforms not be mandated for two more years, the new rules allow exemptions – loopholes, so that banksters can continue to spike food prices for profit.

In another FT article, the original proposal planned to “ensure that market power is not concentrated in any one submarket. Banks said this was crazy.”

Continue reading

Bankster Speculation in Ag Commodities Plunges Millions into Hunger

By Edward Miller
Global Research

Speculation in Agricultural Commodities Drives up the Price of Food Worldwide and Plunges Millions into Hunger

The Commodity Futures Trading Commission (CFTC) has again delayed the introduction of position limits required under the Dodd-Frank Act. These limits are intended to prevent speculation in (among other things) agricultural commodities, speculation which, many critics argue, has driven up the price of food worldwide and plunged millions into hunger.

Continue reading