JTFMax-
These people are directly responsible for the high gas prices, food, and all else today.
Law enforcement agencies have been cracking down on organized crime for the last decade. So perhaps it's time financial regulators put the commodity traders under the same scrutiny, and there is no question that the practice is rife with bribery and money laundering.
Commodity traders are the biggest villains of our time. We have already seen the Ukraine war pressure Brazil and Indonesia farmers. Those farmers will respond with increased production but will be tempted to expand unsustainably. The power to change history rests with the CEOs of 13 companies, which sit at the gates of every farmer producing commodities. So, what makes them global players?
Agricultural commodity trading companies have become the villains in the deforestation debate for over 20 years, but they're essential to solving this issue. And while the pressure on these companies continues to mount each year, concrete actions can change the narrative. So, let's look at a few concrete steps these companies can take to change the conversation. But, first, we can't ignore that they're responsible for one-eighth of all greenhouse gas emissions.
In 2009, the G-20 created the Financial Stability Board to examine the worldwide financial market risks. The organization promised to provide an "in-depth analysis" of vulnerabilities from the Russian war in Ukraine and "focus on the commodity markets." The board's chairman, Klass Knot, the Dutch central bank, pointed out the close relationship between commodity traders and banks and that when raw materials prices rise, a prominent commodity trader can go belly up.
Increasing transparency is vital to avoiding price gimmicks. In many commodity-trading sectors, the market is opaque. The Bank of England has called for mandatory disclosures in over-the-counter derivatives markets. For example, the recent nickel market debacle was exacerbated by regulators not realizing that many commodity traders were holding positions that were not reported to the London Metal Exchange (LME).
If you're wondering who the biggest villains price grifters today are, it's not the farmers but the commodity traders. Today, there are 13 such companies, controlling roughly half the market for high-risk commodities, and they have combined annual revenues of $500 billion. Moreover, these companies are the biggest culprits of deforestation, responsible for one-eighth of all greenhouse gas emissions. So, what can these companies do to change the conversation?
Here are the seven of the biggest Commodity corporations (Glencore -$118,000,000,000); (Sumitomo Corporation- $75,296,140,000); (Cargill Inc- 61,679,000,000); (Marubeni Corporation- 58,543,250,000); (Trafigura Group- $54,151,400,000); (Louis Dreyfus-$19,538,000,000) ; (Olam International- $10,899,100,000) a total $398,106,890,000
Share this page with your family and friends.