“Oligopoly in action.”
That’s how Kartick Raj, a Human Rights Watch researcher focused on poverty and inequality in Western Europe, responded Tuesday to The Guardian’s new reporting on the world’s four grain giants raking in record profits — which is fueling calls for a global windfall tax.
After noting United Nations agencies’ estimates that while about 345 million people endure acute food insecurity — up over 200 million from before the COVID-19 pandemic — food prices have skyrocketed by over 20%, journalist Fiona Harvey highlighted remarks from Olivier De Schutter, a co-chair of the International Panel of Experts on Sustainable Food Systems and U.N. special rapporteur on extreme poverty and human rights.
“The fact that global commodity giants are making record profits at a time when hunger is rising is clearly unjust, and is a terrible indictment of our food systems,” he told Harvey.
“What’s even worse, these companies could have done more to prevent the hunger crisis in the first place.”
As Harvey explained:
“Four companies — the Archer-Daniels-Midland Company, Bunge, Cargill, and Louis Dreyfus, known collectively as ABCD — control an estimated 70-90% of the global grain trade. ‘Global grain markets are even more concentrated than energy markets and even less transparent, so there is a huge risk of profiteering,’ said De Schutter.
“He said this year’s food price surge happened despite what are thought to be abundant global grain reserves, but there was insufficient transparency from the companies to show how much grain they hold and no way to force them to release stocks in a timely way.
“‘We need to be looking at the grain giants and asking what they could have done to avert the crisis, and what they could be doing now,’ De Schutter said.”
While the four companies declined to respond to Harvey’s request for comment, De Schutter added that:
Don’t just survive — THRIVE! Prepper All-Naturals has freeze-dried steaks for long-term storage. Don’t wait for food shortages to get worse. Stock up today. Use promo code “jdr” at checkout for 35% off!
“Ultimately, we need to break up the monopolies that have a stranglehold on the food chain. A handful of companies control global seed and fertilizer markets, animal genetics, the global grain trade, and food retail. They are making huge profits at the cost of farmers, consumers, and the environment.”
Using a term coined by author Naomi Klein, U.K. climate scientist Bill McGuire declared in response to Harvey’s article: “Disaster capitalism at its worst.”
“As 345 million people suffer from acute food insecurity,” McGuire continued, “the four corporations that control virtually all grain trade stuff their pockets with cash, pop the champagne corks, and laugh all the way to the bank.”
Nick Dearden, director of the U.K.-based group Global Justice Now, similarly said that “food monopolies rake in bumper profits as speculation drives up food prices. We have enough food for everyone, but the financial markets dictate more and more people must go hungry to fill the coffers of the super wealthy.”
- Gold SKYROCKETED during Trump’s first term and is poised to do it again. Find out how Genesis Precious Metals can help you secure your retirement with a proper self-directed IRA backed by physical precious metals.
Record profits for grain firms amid food crisis
Record profits for grain firms amid food crisis
Record profits for grain firms amid food crisis
Record profits for grain firms amid food crisis
Record profits for grain firms amid food crisis
Record profits fhttps://t.co/CBWaTjKKrQ— Michael Galant (@michael_galant) August 23, 2022
“Workers wages aren’t causing our #CostOfLivingCrisis. Profiteering is. Want proof?” UNI Global Union tweeted, pointing to Harvey’s reporting, which detailed some of what’s fueling the current issues, including Russia’s war on Ukraine.
The U.K. group Plan B Earth took aim at government leaders:
“Bonanza for fossil fuel companies, while people can’t pay their bills. Soaring stocks for defense companies on the back of war. And while famine stalks East Africa and Afghanistan, food companies make record profits. None of us voted for this!”
As Common Dreams reported in June, Oxfam has spent the summer pushing for a windfall tax targeting major companies.
Harvey noted Tuesday that some campaigners and political figures have echoed that demand, including Natalie Bennett, a U.K. Green party peer, who said that:
“As a short-term measure there are strong arguments for a windfall tax on the food oligopoly — the handful of companies, with significant cross-ownership from hedge funds, that from seeds to supermarkets are major contributors to the inflation that’s driving the cost of living crisis to new heights.”
Cross-posted from Common Dreams.
Five Things New “Preppers” Forget When Getting Ready for Bad Times Ahead
The preparedness community is growing faster than it has in decades. Even during peak times such as Y2K, the economic downturn of 2008, and Covid, the vast majority of Americans made sure they had plenty of toilet paper but didn’t really stockpile anything else.
Things have changed. There’s a growing anxiety in this presidential election year that has prompted more Americans to get prepared for crazy events in the future. Some of it is being driven by fearmongers, but there are valid concerns with the economy, food supply, pharmaceuticals, the energy grid, and mass rioting that have pushed average Americans into “prepper” mode.
There are degrees of preparedness. One does not have to be a full-blown “doomsday prepper” living off-grid in a secure Montana bunker in order to be ahead of the curve. In many ways, preparedness isn’t about being able to perfectly handle every conceivable situation. It’s about being less dependent on government for as long as possible. Those who have proper “preps” will not be waiting for FEMA to distribute emergency supplies to the desperate masses.
Below are five things people new to preparedness (and sometimes even those with experience) often forget as they get ready. All five are common sense notions that do not rely on doomsday in order to be useful. It may be nice to own a tank during the apocalypse but there’s not much you can do with it until things get really crazy. The recommendations below can have places in the lives of average Americans whether doomsday comes or not.
Note: The information provided by this publication or any related communications is for informational purposes only and should not be considered as financial advice. We do not provide personalized investment, financial, or legal advice.
Secured Wealth
Whether in the bank or held in a retirement account, most Americans feel that their life’s savings is relatively secure. At least they did until the last couple of years when de-banking, geopolitical turmoil, and the threat of Central Bank Digital Currencies reared their ugly heads.
It behooves Americans to diversify their holdings. If there’s a triggering event or series of events that cripple the financial systems or devalue the U.S. Dollar, wealth can evaporate quickly. To hedge against potential turmoil, many Americans are looking in two directions: Crypto and physical precious metals.
There are huge advantages to cryptocurrencies, but there are also inherent risks because “virtual” money can become challenging to spend. Add in the push by central banks and governments to regulate or even replace cryptocurrencies with their own versions they control and the risks amplify. There’s nothing wrong with cryptocurrencies today but things can change rapidly.
As for physical precious metals, many Americans pay cash to keep plenty on hand in their safe. Rolling over or transferring retirement accounts into self-directed IRAs is also a popular option, but there are caveats. It can often take weeks or even months to get the gold and silver shipped if the owner chooses to close their account. This is why Genesis Gold Group stands out. Their relationship with the depositories allows for rapid closure and shipping, often in less than 10 days from the time the account holder makes their move. This can come in handy if things appear to be heading south.
Lots of Potable Water
One of the biggest shocks that hit new preppers is understanding how much potable water they need in order to survive. Experts claim one gallon of water per person per day is necessary. Even the most conservative estimates put it at over half-a-gallon. That means that for a family of four, they’ll need around 120 gallons of water to survive for a month if the taps turn off and the stores empty out.
Being near a fresh water source, whether it’s a river, lake, or well, is a best practice among experienced preppers. It’s necessary to have a water filter as well, even if the taps are still working. Many refuse to drink tap water even when there is no emergency. Berkey was our previous favorite but they’re under attack from regulators so the Alexapure systems are solid replacements.
For those in the city or away from fresh water sources, storage is the best option. This can be challenging because proper water storage containers take up a lot of room and are difficult to move if the need arises. For “bug in” situations, having a larger container that stores hundreds or even thousands of gallons is better than stacking 1-5 gallon containers. Unfortunately, they won’t be easily transportable and they can cost a lot to install.
Water is critical. If chaos erupts and water infrastructure is compromised, having a large backup supply can be lifesaving.
Pharmaceuticals and Medical Supplies
There are multiple threats specific to the medical supply chain. With Chinese and Indian imports accounting for over 90% of pharmaceutical ingredients in the United States, deteriorating relations could make it impossible to get the medicines and antibiotics many of us need.
Stocking up many prescription medications can be hard. Doctors generally do not like to prescribe large batches of drugs even if they are shelf-stable for extended periods of time. It is a best practice to ask your doctor if they can prescribe a larger amount. Today, some are sympathetic to concerns about pharmacies running out or becoming inaccessible. Tell them your concerns. It’s worth a shot. The worst they can do is say no.
If your doctor is unwilling to help you stock up on medicines, then Jase Medical is a good alternative. Through telehealth, they can prescribe daily meds or antibiotics that are shipped to your door. As proponents of medical freedom, they empathize with those who want to have enough medical supplies on hand in case things go wrong.
Energy Sources
The vast majority of Americans are locked into the grid. This has proven to be a massive liability when the grid goes down. Unfortunately, there are no inexpensive remedies.
Those living off-grid had to either spend a lot of money or effort (or both) to get their alternative energy sources like solar set up. For those who do not want to go so far, it’s still a best practice to have backup power sources. Diesel generators and portable solar panels are the two most popular, and while they’re not inexpensive they are not out of reach of most Americans who are concerned about being without power for extended periods of time.
Natural gas is another necessity for many, but that’s far more challenging to replace. Having alternatives for heating and cooking that can be powered if gas and electric grids go down is important. Have a backup for items that require power such as manual can openers. If you’re stuck eating canned foods for a while and all you have is an electric opener, you’ll have problems.
Don’t Forget the Protein
When most think about “prepping,” they think about their food supply. More Americans are turning to gardening and homesteading as ways to produce their own food. Others are working with local farmers and ranchers to purchase directly from the sources. This is a good idea whether doomsday comes or not, but it’s particularly important if the food supply chain is broken.
Most grocery stores have about one to two weeks worth of food, as do most American households. Grocers rely heavily on truckers to receive their ongoing shipments. In a crisis, the current process can fail. It behooves Americans for multiple reasons to localize their food purchases as much as possible.
Long-term storage is another popular option. Canned foods, MREs, and freeze dried meals are selling out quickly even as prices rise. But one component that is conspicuously absent in shelf-stable food is high-quality protein. Most survival food companies offer low quality “protein buckets” or cans of meat, but they are often barely edible.
Prepper All-Naturals offers premium cuts of steak that have been cooked sous vide and freeze dried to give them a 25-year shelf life. They offer Ribeye, NY Strip, and Tenderloin among others.
Having buckets of beans and rice is a good start, but keeping a solid supply of high-quality protein isn’t just healthier. It can help a family maintain normalcy through crises.
Prepare Without Fear
With all the challenges we face as Americans today, it can be emotionally draining. Citizens are scared and there’s nothing irrational about their concerns. Being prepared and making lifestyle changes to secure necessities can go a long way toward overcoming the fears that plague us. We should hope and pray for the best but prepare for the worst. And if the worst does come, then knowing we did what we could to be ready for it will help us face those challenges with confidence.
It’s called inflation. Buried deep in the Guardian article, turns out their profit margins increased by less than 1%. If revenues have increased 20%, expenses have increased by about 19%. If the buying power of the dollar has decreased by 20% (and that’s a very low estimate), then their real revenues, expenses, and profits have held fairly steady. But by using dollar amounts, and reporting half the story, the socialist crowd can stir up hysteria, deflect attention away from governments which caused and exacerbate the problem, while proposing that even more government meddling and control is the solution.
Aside from money printing exacerbating inflation, the problem is the supply, which governments and climate activists have also worked to constrict. If there’s not enough supply, then people are going to go hungry no matter what the price might be.
But that’s leftists for you, though. People are going hungry, so they’re going to fix the problem by constricting the supply further, burdening the supply chain more, increasing inflation and cost of living. Such geniuses they are. Who knew we could all survive by eating dollar bills. ?
More government meddling, taxes, regulations, etc. will do nothing but unnecessarily weaken the supply chain, draw money out of it, artificially increasing costs, prices, causing more inflation.This is the sort of reprobate activity that will lead to a loaf of bread costing a day’s wages, as the Bible says. Governments leeching more and more out of it, squeezing every ounce of blood out of it, to the point where the wage to retail price divide is that ridiculously insane.
All that said, I believe we probably are nearing the end times. It’s hard not to see everything trending exactly as prophesied.
But where those companies are concerned, looking at it objectively, big picture, it would appear to me that what’s happening is that they are capturing more of the market. The little guys are being destroyed. And of course the trade unions would not oppose. If unionized big corporations capture more of the market, so do they. They don’t want to independent little guys to succeed. They want 100% control and ownership of the labor market.
The ones who say the monopolies need to be broken up are on the right track, imo. Competition is key. But four companies don’t make a monopoly. The root cause is reprobate government stupidity. As Milton Friedman said, inflation is caused by governments.