How Goldman Sachs gambled on starvation

I came across this story which is amazing, well not really when you hear who is involved - YET AGAIN.

Gambled on their stomachs

Source: Johann Hari, The Independent UK.

Very reputable news source...

If you buy something, you should be forced to take delivery. If people just buy and sell, they add no value at all - why should they profit?

Also - derivatives are pieces of nothing - they should be totally illegal - its fraud.

EDIT: I will correct that, derivatives are a small piece of something, with a massive slice of nothing added on top.

[edit on 2-7-2010 by Amagnon]

What else would you exspect from a jewish banking catel.

Like Haliburton and blackwater that name keeps poping up.

Do you like being forced to pay for your own imprisoment or are you going to do something about it.

Why did Goldman sell a 44% stake in Bp before it blew up or will no one in congress dare ask such questions becaue they are all on the pay roll to these banksters.

I've cashed a lot out of the banking sytem and brough physical silver and hope the prices goes back down to $12oz so i can get some more and before anyone says silver is not money than ask why banksters need a ready supply.

I say if Goldman knew to sell off thier shares of BP at that time, we should try and follow them in their banking activities, etc. Buy and sell shares like they do, then you will profit, just coz they seemingly know stuff before it happens. I assure you, you will be rich if you follow thier lead...

Originally posted by DaRAGE
I say if Goldman knew to sell off thier shares of BP at that time, we should try and follow them in their banking activities, etc. Buy and sell shares like they do, then you will profit, just coz they seemingly know stuff before it happens. I assure you, you will be rich if you follow thier lead...

Exactly! When the oil begins to run in the streets, that will be the moment to buy BP shares as you can guarantee G.S and their banking allies will be doing the same

[edit on 2-7-2010 by timski]

Originally posted by LieBuster
Why did Goldman sell a 44% stake in Bp before it blew up or will no one in congress dare ask such questions becaue they are all on the pay roll to these banksters.

Or how about this . . .

Startling Reveletions. More going on in The Gulf Of Mexico Than An Oil Spill!

. . . the largest seller of BP stock in the weeks before this disaster occurred was the American investment company known as Vanguard who through two of their financial arms (Vanguard Windsor II Investor and Vanguard Windsor Investor) unloaded over 1.5 million shares of BP stock saving their investors hundreds of millions of dollars, chief among them President Obama. For though little known by the American people, their President Obama holds all of his wealth in just two Vanguard funds, Vanguard 500 Index Fund where he has 3 accounts and the Vanguard FTSE Social Index Fund where he holds another 3 accounts, all six of which the FSB estimates will earn Obama . . .

That quote is near the bottom of the page. Though complex, I would read ALL the information posted. There is a thread devoted to this theory here..

Not only should we deny ignorance, but we should be ever mindful that nothing is as it seems.

reply to post by Valorian


There is a little piece of the story that the author fails to mention, predictably.

The "farmer" does not sell his food to a trader. He sells it to an agra firm who then deals with the product in the same manner as a miner does not sell gold to the traders, but rather to a metals company.

The "farmer" in many cases is the government itself, at a minimum, the government of these countrys is responsible for some oversight over critical foodstuffs and to the extent that their nations foodstuffs were being gambled in a ponzi scheme (clearly the government has the ability to understand what is backing up the contracts they have secured), they can stop the practice.

The government and in some cases trickled down to the farmer received more money for their crops when they were traded in this manner. Whether or not that trickled back down to the farmer is another business.

People have been speculating with commodities since the pre-industrial era. In a number of cases, hedging against bad weather, etc has enabled farmers to stay in business and hence feed people that they otherwise would not have been able to.

Is the business of derivative trading with respect to foodstuffs bad business? I think it is. Engagement in that practice is partly the responsibility of the government entity which oversees the arigultural production of a given country.

I certainly think that Goldman is a bad guy here. I also blame the governments of these countrys who enabled the health of their people to be gambled with.

Its no different than 99% of the blame for the housing mess being heaped on the bankers when at least half of it belongs to the person who bought a house and obligated himself to debt that he clearly could not afford.

I do have the choice to not loan my money to a gambler. If I do and do so because I receive a higher return, I should not complain when he loses all my money.

Bankers are going to operate within the realm of the regulations and laws set up by the oversight bodies that regulate them. The oversight bodies failed through all of these chains of unfortunate events than the bankers.