BS: UK: Govt blocking food speculation regs

Subject: BS: UK: Govt blocking food speculation regs
From: YorkshireYankee
Date: 24 Oct 13 - 02:05 PM

Passing along info from WDM (World Development Movement); am hoping some Catters will be interested enough to "click" - and maybe even pass the word along to friends & family:

UK government is sabotaging vital regulation on food speculation

The UK government is standing in the way of effective regulation to tackle food speculation. Email the treasury now to stop them from watering down key legislation.

We are so close to seeing strong regulations on food speculation. But there is one last obstacle in the way. And this time the obstacle is closer to home.

The UK government is letting us down. The treasury is seeking to protect its friends in the finance sector by pushing loopholes into the legislation at the EU level.

On the 28 October, the UK government will be meeting the other EU member states to agree legislation to curb food speculation. We need to stop the UK from derailing this process by putting the pressure on now.

Click here to send an email to the treasury and make your voice heard: http://action.wdm.org.uk/ea-action/action?ea.client.id=1784&ea.campaign.id=23426

It doesn't involve writing a letter - just giving the usual information and clicking...

Subject: RE: BS: UK: Govt blocking food speculation regs
From: SPB-Cooperator
Date: 25 Oct 13 - 05:32 AM

Any links to more information about the issues?

Subject: RE: BS: UK: Govt blocking food speculation regs
From: Don(Wyziwyg)T
Date: 25 Oct 13 - 02:47 PM

Anybody care to expand on what food speculation entails and whether it is possible or even desirable top stop it by legislation?

I have to admit that I've not heard of it before.

Don T.

Subject: RE: BS: UK: Govt blocking food speculation regs
From: Tootler
Date: 25 Oct 13 - 06:50 PM

A quick search for "food speculation" through up several sites with explanations. This one seem fairly clear.

Basically, it seems that banks and other financial institutions are speculating on the future price of foodstuffs and this is driving up the price of basic foodstuffs so that people in poorer countries are cannot afford to buy basic foodstuffs and are being driven to starvation in spite of there being no real shortage of such foodstuffs.

Our beloved govt. being wedded to a more extreme form of the free market philosophy don't like regulated markets, it goes against their basic principles.

Subject: RE: BS: UK: Govt blocking food speculation regs
From: YorkshireYankee
Date: 25 Oct 13 - 08:56 PM

SPB-C and Don T - fair questions. Sorry, should have posted links to further info myself. (Was in a bit of a rush at the time, so didn't think of it then.)

Tootler - good link! Many thanks for posting it - and your explanation.

Here's another link: http://www.wdm.org.uk/stop-bankers-betting-food/food-speculation-videos

Subject: RE: BS: UK: Govt blocking food speculation regs
From: Don(Wyziwyg)T
Date: 26 Oct 13 - 06:38 AM

Thank you for the input guys. I half expected to be abused for my ignorance. Pity all the threads can't be this polite.

Playing with the world's food supply for financial gain is despicable.

e-Mail has been sent!

Don T.

Subject: RE: BS: UK: Govt blocking food speculation regs
From: GUEST,JJ
Date: 27 Oct 13 - 04:00 AM

Refresh

Subject: RE: BS: UK: Govt blocking food speculation regs
From: GUEST,Annoyed of Timperley
Date: 27 Oct 13 - 04:17 AM

I received an emailed reply:

"The fst.action inbox is closed. Please contact the PS on duty at [e-mail] or 07785 778581 if urgent"

This suggests to me that our emails are being binned / ignored.

I would suggest emailing [e-mail]

JJ

Subject: RE: BS: UK: Govt blocking food speculation regs
From: YorkshireYankee
Date: 27 Oct 13 - 02:54 PM

Hi Annoyed - That's odd. My hubbie just clicked & there was no problem. Try again, maybe?

Don, if you were thinking you might get flack for asking, then it was particularly "brave" of you to ask anyway. Not to mention that it provides an opportunity to let others (who also may not know but aren't brave/interested enough to ask) understand what the issue(s) is/are.

Since this is the kind of thing I wouldn't know about myself without receiving messages from WDM (& other political groups), it wouldn't occur to me to think ill of someone who didn't already know about it. Rather, I realised I'd been remiss in not providing more info.

(And even if I did think you were ignorant for not already being aware of this (which I honestly don't!), I can't see it encouraging you to take the action I'm hoping you'll take if I say unkind things to you.

But I do understand where you're coming from. Sadly, it's the case that some 'Catters don't think carefully enough before posting comments...

Subject: RE: BS: UK: Govt blocking food speculation regs
From: Q (Frank Staplin)
Date: 27 Oct 13 - 06:58 PM

I presume this has to do with trading in the futures markets.
This trading is worldwide and many individual investors have savings in various plans.

In N. Am., most trading takes place on the New York Mercantile Exchange. This is open to anyone, not just banks. Many smaller investors are involved in the investment futures offered by financial institutions, owned by unions and various trusts, etc.

www.expofutures.com/futures-options-educational-resources.php

Trading takes place in minerals, petroleum, grains and other basic foodstocks and foodstuffs, including sugar, rice, cocoa, etc.-all staples.

Here is the "barchart" website, data on current prices in the cocoa futures market:
www.barchart.com/commodityfutures/Cocoa_Futures/CC

Subject: RE: BS: UK: Govt blocking food speculation regs
From: Q (Frank Staplin)
Date: 27 Oct 13 - 07:20 PM

Trading charts for some popular commodities:
Rice
http://futures.tradingcharts.com/marketquotes/RR.html