RAJ PATEL talks to DEMOCRACY NOW
And again, this is—there’s nothing natural about these speculative bubbles. They’re very much human-generated, particularly since legislation in 1991 was waived as the result of lobbying by Goldman Sachs. You’ll see increasing levels of speculation in food and fuel, that creates these bubbles in prices. And a few people profit a great deal. In 2006, for example, Merrill Lynch estimated that speculation was causing commodity prices to rise 50 percent higher than if they were based on just supply and demand alone. So there’s a lot of money in these markets.
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