Occupy London inspires protest against Goldman Sachs’ betting on hunger

Protest and photo call: Anti-poverty campaigners and activists from Occupy London will stage a human casino outside Goldman Sachs highlighting how the bank’s betting on food prices is fuelling global hunger.

When: 12.15-12.30pm, Thursday 27 October

Where: Goldman Sachs, 133 Fleet Street, EC4A 2BB

Anti-poverty campaigners from the World Development Movement will show support for the occupation at London Stock Exchange by staging a human casino outside Goldman Sachs’ offices, to highlight how the bank is gambling on hunger by speculating on food prices. The action is part of efforts to expand the reach of the Occupy movement.

Goldman Sachs made $1 billion dollars last year from speculating on food prices. Huge growth in financial speculation on food has spurred sharp increases in global food prices, which in the last six months of 2010 alone pushed another 44 million people into extreme poverty. In the UK, average annual food bills have jumped by £260 in a year.

Murray Worthy, policy officer at the World Development Movement said:

Reckless trading by bankers not only caused the financial crisis, it is also contributing to a global food crisis. While the wealthiest 1 per cent may not notice rising food prices fuelled by speculation, the rest of us are all feeling the pinch. And for people in poverty around the world, high food prices are contributing to hunger and malnutrition. People need to stand up against the dominance of the City for a fairer food system, and a fairer financial system.”

Notes to editors

Goldman Sachs’ offices in Paternoster Square, next to the London Stock Exchange and occupation in front of St Paul’s Cathedral, remain sealed off from the public by police.