(LPAC) - With prices for basic food skyrocketing around the world, the lack of stocks and uncontrolled speculation, Lyndon LaRouche reiterated the February 14 His call to put a ceiling on food prices. The process hyperinflationary speculation is pushing money into commodities markets, and the resulting explosion of prices. And this at a time when, according to the World Bank, nearly one billion people around the world, almost one sixth of the world population suffering from hunger and another billion are malnourished. "We need a roof to the international prices of food," said LaRouche. "We need to freeze food prices by imposing a cap now! The situation in Egypt and Tunisia are only a warning."
LaRouche's call to end speculation about the food was echoed in the last two years by the Economy Minister Giulio Tremonti. Now they seem to be waking up even his European colleagues. A similar warning came from the German Minister of Agriculture, Ilse Aigner, during his opening speech to the annual agricultural fair in Berlin, January 20: the food riots and the destabilization of the countries of North Africa, he said, indicate the need to regulate and protect agricultural commodities by speculators. Mrs. Aigner and agriculture ministers of the other 26 EU countries have sent a request to the European Commission to compile these rules, but the Commission refused, with the absurd grounds that it is speculation to cause inflation food prices!
However, the situation has become so dramatic by the end in January that the proposal to ban speculation on food has been put on the agenda of the G20 began Feb. 18 in Paris. The finance minister said the Indonesian Agus Martowardojo G20: "We hope that the G20 forum to put pressure on the markets so that there are more speculators or financial or non-financial industries, who are capitalizing on food ... At the level of G20, Long term, we are asking countries to set up a fund to increase the productivity of food, but in the short term, we must send a message to the financial and non-financial industries who are capitalizing on food prices, as well as the futures industry, to make so it does not destabilize prices. "
The French Minister of Agriculture Bruno Le Maire has confirmed the need for a limit to the speculation: "It should be imposed. It is unacceptable that there are people who create artificial shortages of food and approprino of this or that amount of food for the sole purpose to make profits, while millions of people suffer from hunger. " European governments seem to have realized the disaster food prices caused by man, but have not taken any concrete steps.
Worse: Jean-Claude Trichet, who heads the EU real government, he turned against his thumbs. Speaking to French radio station Europe 1 February 20, Trichet said: "We can not do anything against the increase Current energy prices and goods, but we must do everything possible to avoid what we call the effect of return. "And what would the effects of return?" I'm thinking the whole range of other prices, including, of course, wages. "Increase wages" would be a silly thing to do, "he said brutally.
The ECB could stop the speculation in a flash, close the taps of easy money. The liquidity pumped into the system constantly pouring in speculation Foodstuffs such as show all the diagrams. The EU itself has issued the following figures: "investment" in commodities markets were $ 15 billion in 2003, they went through 300 billion in 2008 and has since continued to rise. At the Chicago mercantile exchange, 85% of traders have no business in the food industry.
Even the large producers are sounding the alarm: February 16, the Swiss division of Kraft Foods, the second largest producer of food worldwide, issued a statement denouncing hedge funds, accusing them of pumping huge volumes of capital in food since mid-2007, causing inflation in the prices never seen before. This threatens to compromise the security of food supplies, Kraft Foods has warned, calling for a regulation that excludes speculators from the markets of agricultural products.
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