Pope Criticizes Profits Made by Food Price Speculators

[Catholic_Press]

Pope Benedict issued strong words on Friday against financial speculators spiking food prices and pointed to family-run farms as a way to help stave off world hunger.

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[ProVobis]

Markets aren’t supposed to work that way. The hedge is a perfectly legitimate financial instrument used by farmers to lock in a price before their crops are harvested. And for every short-seller such as the farmer there has to be a buyer who needs to profit to live on as well. We tend to call the latter “speculators.”

I think the real problem is in the central bank which allows high leveraging (and thus inflated prices) of the commodities in question. But then this same leveraging allows home prices to skyrocket beyond the limits of many who wish to have a roof over their heads as well.

 

[Carlan]

Markets aren’t supposed to work that way. The hedge is a perfectly legitimate financial instrument used by farmers to lock in a price before their crops are harvested. And for every short-seller such as the farmer there has to be a buyer who needs to profit to live on as well. We tend to call the latter “speculators.”

I think the real problem is in the central bank which allows high leveraging (and thus inflated prices) of the commodities in question. But then this same leveraging allows home prices to skyrocket beyond the limits of many who wish to have a roof over their heads as well.

Greed is killing us! Money, the root of all evil
Peace, Carlan

 

[centurionguard]

Markets aren’t supposed to work that way. The hedge is a perfectly legitimate financial instrument used by farmers to lock in a price before their crops are harvested. And for every short-seller such as the farmer there has to be a buyer who needs to profit to live on as well. We tend to call the latter “speculators.”

I think the real problem is in the central bank which allows high leveraging (and thus inflated prices) of the commodities in question. But then this same leveraging allows home prices to skyrocket beyond the limits of many who wish to have a roof over their heads as well.

Food Prices are through the roof. Depending where you live in Canada the basic food staple Bread is now over $3.00 a loaf in many parts of Canada.
$3.25 where I live. By late Fall of this year its projected that a loaf a bread will cost most Canadians $5.00 a loaf.

With heavily flooded farming areas in Western Canada, its too late for Wheat Farmers to plant their seeds.

If its increasingly difficult on middle income families budgets, how do the poor survive?

Once fuel prices skyrocket every business including grocery giants jump on the greed bandwagon pushing their profit margin commodities out of reach to the average consumer placing increasing strain on the poor and putting heath in jeopardy.

 

[MillTownCath]

Capitalism is great, but it fails in the compassion and humanity department.