GFP Note: There's been speculation that morality is not what's driving this bank's decision, rather, it's because they know criminal charges are forthcoming to the banks that manipulated food prices for their owns profits while people starved because they could no longer afford to eat.
Germany's second-biggest lender, Commerzbank, says it will no longer participate in market speculation on basic food prices. The bank says it has removed all agricultural products from its funds for moral reasons.
Commerzbank of Germany confirmed on Thursday it had withdrawn from market speculation on prices for basic food items. The country's second-largest lender said it had removed all agriculture products from its ComStage ETF CB Commodity fund.
Commerzbank stated that the move came in response to a series of international studies claiming that similar agricultural funds had played no small role in artificially pushing up food prices, contributing to widespread hunger in many parts of the world.
