Friday, October 01, 2010

The Land Grabbers

Socialism Or Your Money Back has previously drawn readers attention to the current speculation in agricultural land , as has our companion Africa themed blog Socialist Banner .

It is worth while once more to direct readers to yet another article on the subject of The Great Land Grab.

"Before 2008, global expansion of agricultural lands came to less than 4 million hectares a year, according to the World Bank report. In 2009, though, that figure shot up to 45 million hectares in large-scale deals even before the year was out...Who’s doing all that investing? The non-profit GRAIN points out, are China and the UK, tied for first place, followed by Saudi Arabia.One of the farmland investors identified on the blog is familiar for its connection to an earlier global crisis, the financial meltdown of 2008: Goldman Sachs...The names of numerous other hedge funds and banking organisations also appear, as does that of billionaire Warren Buffett’s conglomerate, Berkshire Hathaway...The rich becoming richer from oil and coal has proven problematic enough for our planet from a sustainability point of view. Should they now also be able to grow even richer by treating the world’s food supplies no differently than gold or rare earth elements?"

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