My Daddy strongest? No, certainly not. But I could agree that my Daddy is quite knowledgeable.
We're probably bored of the same old jokes of how you would've been rich today had you invested in Onions.
Now coming to the point, do the people really know the reason behind the price rise? The govt. said that the unseasonal rains caused the prices to rise. Now how can the prices rise by 300% when they said that the production of Onions was reduced by about 15%?
Warning : Read further ONLY if you wish to know the truth. Its quite boring, but a good GK topic to boast about.
Here comes the Daddy wisdom part : (Typical Daddy talks, its boring, but interesting oO)
He told me that the food prices rose to such an extent in the past 2 odd years because of something called as "Derivatives". The policy of speculation of prices was introduced into the Food Industry.
What it meant was that people could speculate on the future prices of food commodities and invest money on the people who actually owned them. This led to the sudden rise in prices of food commodities. The people who knew about this policy did make a few thousand crores! But it came at a HUGE HUGE cost, didn't it?
PS : 'They' did their job perfectly I must admit.
They made money and covered up the story really really well. Perfectionists I must admit.
Do I even need to mention who "They" were?
We're probably bored of the same old jokes of how you would've been rich today had you invested in Onions.
Now coming to the point, do the people really know the reason behind the price rise? The govt. said that the unseasonal rains caused the prices to rise. Now how can the prices rise by 300% when they said that the production of Onions was reduced by about 15%?
Warning : Read further ONLY if you wish to know the truth. Its quite boring, but a good GK topic to boast about.
Here comes the Daddy wisdom part : (Typical Daddy talks, its boring, but interesting oO)
He told me that the food prices rose to such an extent in the past 2 odd years because of something called as "Derivatives". The policy of speculation of prices was introduced into the Food Industry.
What it meant was that people could speculate on the future prices of food commodities and invest money on the people who actually owned them. This led to the sudden rise in prices of food commodities. The people who knew about this policy did make a few thousand crores! But it came at a HUGE HUGE cost, didn't it?
PS : 'They' did their job perfectly I must admit.
They made money and covered up the story really really well. Perfectionists I must admit.
Do I even need to mention who "They" were?
Yes, we are thought the same stuff in Eco. But Sir tends to go into more detailed explanations. thank god you didnt elongate here. nice, small, simple explanantion. :)
ReplyDeleteP.s Who are they? O.o