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Goldman Sachs Made $400 Million Betting On Food Prices In 2012 While Hundreds Of Millions Starved

 
KoFFee_

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01/25/2013 08:49 PM

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Goldman Sachs Made $400 Million Betting On Food Prices In 2012 While Hundreds Of Millions Starved
Why does it seem like wherever there is human suffering, some giant bank is making money off of it? According to a new report from the World Development Movement, Goldman Sachs made about 400 million dollars betting on food prices last year.

Overall, 2012 was quite a banner year for Goldman Sachs. As I reported in a previous article, revenues for Goldman increased by about 30 percent in 2012 and the price of Goldman stock has risen by more than 40 percent over the past 12 months.

It is estimated that the average banker at Goldman brought in a pay and bonus package of approximately $396,500 for 2012. So without a doubt, Goldman Sachs is swimming in money right now. But what is the price for all of this “success”?

Many claim that the rampant speculation on food prices by the big banks has dramatically increased the global price of food and has caused the suffering of hundreds of millions of poor families around the planet to become much worse.

At this point, global food prices are more than twice as high as they were back in 2003. Approximately 2 billion people on the planet spend at least half of their incomes on food, and close to a billion people regularly do not have enough food to eat.

Is it moral for Goldman Sachs and other big banks such as Barclays and Morgan Stanley to make hundreds of millions of dollars betting on the price of food if that is going to drive up global food prices and make it harder for poor families all over the world to feed themselves?

Read more here:
[link to leaksource.wordpress.com]
However, I consider my life worth nothing to me; my only aim is to finish the race and complete the task
the Lord Jesus has given me—the task of testifying to the good news of God’s grace. Acts 20:24

"This man really is the Savior of the world!" John 4:42

Look, he is coming with the clouds, and every eye will see him, even those who pierced him;
and all the peoples of the earth will mourn because of him. So shall it be! Amen.
I am the Alpha and the Omega, " says the Lord God, who is, and who was, and who is to come, the Almighty." Revelation 1:7

I do not own the rights to any video posted, they are for educational/entertainment purposes only.
Anonymous Coward
User ID: 32996439
United States
01/25/2013 09:04 PM
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Re: Goldman Sachs Made $400 Million Betting On Food Prices In 2012 While Hundreds Of Millions Starved
awesome post

hey, thought you might like this, after seeing some of your posts

[link to jahtruth.net]
Anonymous Coward
User ID: 21738006
Canada
01/25/2013 09:17 PM
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Re: Goldman Sachs Made $400 Million Betting On Food Prices In 2012 While Hundreds Of Millions Starved
BASTARDS !!! I am sick and tired of the Illuminated Ones sticking it to us!!
The Sheeple Need To Revolt Against The Machine!!!! Once it starts, it will grow and grow! People need to realize that "They" have "Power"! Let's "ROLL" !!!
Anonymous Coward
User ID: 19818372
01/25/2013 09:44 PM
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Re: Goldman Sachs Made $400 Million Betting On Food Prices In 2012 While Hundreds Of Millions Starved
Goldman Sachs is not a bank, its an investment firm.

Aren't they the ones who drove up oil prices to arount $160 a barrel a few years ago?
Became the largest oil company in the US based on storage capacity?
Anonymous Coward
User ID: 10098396
United States
01/25/2013 09:47 PM
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Re: Goldman Sachs Made $400 Million Betting On Food Prices In 2012 While Hundreds Of Millions Starved
Good for them. I remember when she and berkshire froze my grandmother to death with utiliies during the bush admim.

god bless merica.
Anonymous Coward
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United States
01/25/2013 09:49 PM
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Re: Goldman Sachs Made $400 Million Betting On Food Prices In 2012 While Hundreds Of Millions Starved
ok they only tried.
Anonymous Coward
User ID: 21738006
Canada
01/25/2013 09:55 PM
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Re: Goldman Sachs Made $400 Million Betting On Food Prices In 2012 While Hundreds Of Millions Starved
Ok? So, we gonna "ROLL"?? or what?
Anonymous Coward
User ID: 10098396
United States
01/25/2013 09:58 PM
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Re: Goldman Sachs Made $400 Million Betting On Food Prices In 2012 While Hundreds Of Millions Starved
Ok? So, we gonna "ROLL"?? or what?
 Quoting: Anonymous Coward 21738006


Power hungry mongrels will destroy themselves.

I dont have to lift a finger.
KoFFee_ (OP)

User ID: 1373078
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01/25/2013 10:00 PM

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Re: Goldman Sachs Made $400 Million Betting On Food Prices In 2012 While Hundreds Of Millions Starved
Goldman Sachs and Shell win Public Eye ‘shame’ awards at Davos

Campaigners at Davos on Thursday awarded their annual Public Eye shame awards to Goldman Sachs and Shell “for particularly glaring cases of companies’ greed for profit and environmental sins”.

At an “award ceremony” on the sidelines of the World Economic Forum in Davos, the Swiss chapter of Greenpeace and the Berne Declaration said Goldman Sachs had won the jury prize, while Shell had been chosen by online voters for the public award.

Goldman Sachs “is a key player in financially driven globalisation, which pays for profits of a few with exploding inequality and the impoverishment of broad strata,” the groups said in a statement.

Read more:

[link to www.rawstory.com]
However, I consider my life worth nothing to me; my only aim is to finish the race and complete the task
the Lord Jesus has given me—the task of testifying to the good news of God’s grace. Acts 20:24

"This man really is the Savior of the world!" John 4:42

Look, he is coming with the clouds, and every eye will see him, even those who pierced him;
and all the peoples of the earth will mourn because of him. So shall it be! Amen.
I am the Alpha and the Omega, " says the Lord God, who is, and who was, and who is to come, the Almighty." Revelation 1:7

I do not own the rights to any video posted, they are for educational/entertainment purposes only.
Anonymous Coward
User ID: 22095164
United States
02/05/2013 10:28 AM
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Re: Goldman Sachs Made $400 Million Betting On Food Prices In 2012 While Hundreds Of Millions Starved
Thread: Goldman Sachs Hired by Russia? WHY? WTF?

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