It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Thank you.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Originally posted by MemoryShock
As well, there needs to be a corporate interest in industrializing the thrid world nations. Would take alot of money, but in my opinion, well worth it if a corporation(s) did so with the intent to create their own market...
Large-scale investors such as hedge and pension funds buy futures—shares in basic goods and foodstuffs to be delivered at a fixed date in the future. When the price of the commodity rises significantly between the time of the investment and the time of delivery, the investor is able to take home a large profit.
In light of the current food crisis, substantial returns of profit are guaranteed. According to CHX figures, wheat futures (for delivery in December) are expected to rise by at least 73 percent, soybeans by 52 percent, and soy oil by 44 percent.
www.wsws.org...
The Vietnam Food Association said speculators, including real estate companies, had rushed to buy rice in recent days, while wholesalers in the southern Mekong Delta, the country's main rice growing region, were also holding back supplies.
Unrest over the food crisis has led to deaths in Cameroon and Haiti, cost Haitian Prime Minister Jacques Edouard Alexis his job, and caused hungry textile workers to clash with police in Bangladesh.
www.iht.com...
The futures market is a traditional tool for farmers to sell their harvests ahead of time. In a futures contract, quantities, prices and delivery dates are fixed, sometimes even before crops have been planted. Futures contracts allow farmers and grain wholesalers a measure of protection against adverse weather conditions and excessive price fluctuations. They can also help a farmer plan how much to plant for a given year.
But now speculators are taking advantage of this mechanism. They can buy futures contracts for wheat, for example, at a low price, betting that the price will go up. If the price of the grain rises by the agreed delivery date, they profit.
Some experts now believe these investors have taken over the market, buying futures at unprecedented levels and driving up short-term prices. Since last August, this mechanism has led to a doubling in the price of rice—including the 500,000 tons that the Philippine government plans to buy in early May to address its own shortage.
www.businessweek.com...
Originally posted by Sir Francis Bacon
I remember seeing this thread when it was first posted last year. I played the game for a few days with a dictionary open in the next tab. Built up some grains. If enough people played for a long enough length of time they could bring about a global rice crisis.
Wait a minute...
Hmmm.
Originally posted by Johnmike
If I wanted to read the Bible, I would. Unfortunately, as you yourself exemplify, it isn't a source of education on economics.
26For what is a man profited, if he shall gain the whole world, and lose his own soul? or what shall a man give in exchange for his soul?
Wiki
Since FreeRice became well-known through Digg.com and other news sources,[1] many programming-adept users created scripts to automatically play the game for them. The scripts operate far faster than humans alone and run for 24 hours a day. At first, the scripts got only ≈1/4 of the words correct by random chance. Eventually, these bots were adapted with automated online dictionary search, dictionary files, and word database dumps so the programs can choose the correct answers the first time more often.