A lot of people in the room already know about speculation or food. Some people are familiar with. Quite a few already. I've read the other day in the financial times somebody complaining that anti-capitalists protest with the London you're a lot more about the workings of the market than most coincisional European politicians, so I hope they won't be telling you too much about thinking already. But I can't think of a better place to talk about food speculation than right here in the city of London, because of the way that this movement is a running challenge to the financial sector, but it's also shining a light on the practices of banks and the power of banks. It's really banks and hedge funds, people with just the stone stone from here, who have a high speculational food, which has really got to be in ends of the wedge when it comes to the gas system. Pretty wall-wedge, pretty cut and dried, people at Gamblach with staple foods and as a direct result, people in the third world can't afford to eat. Pretty, pretty straightforward stuff. So it's also a bit time to talk about food speculation, lunch time. Thought I'd bring my sandwich into this table, which doesn't look like a financial asset, doesn't really. Doesn't look like it's something that drives money around the world, but actually the ingredients in this sandwich, particularly wheat. It's a derivative, based on eating ingredients. The vast amounts of money are poised, they're called agricultural derivatives or agues, as they're known to people who trade them. And you can now bet on the prices of do keepings, a leverage, soy bean, a leverage, soy bean to sound wrong. And greasy wool, and also staple foods like maize, which is staple food for half the population of sub-style round the world. Now these markets have grown massively. 2002, there was, I think there was 3 billion invested in their agricultural commodities. Last year there was 126 billion, so this whole market has exploded. And what's the new impact of that? Since all this managed money took an interest in food, prices started behaving in two ways. Firstly, they've gone up, prices have gone up, and secondly, it started to become massively volatile and swing up and down. So what that means for maize, for example, is that it's tripled in the last 10 years. And what this means for developing worlds where households spend around 70% of them income on food, is that people can't afford to eat, and it means that people are children stop growing. So, the spring catastrophic impact, and the well-backed, I think there was 70 million people catapulting to poverty management as a result of price rises last year. So it's more than the entire population of the UK, so massive impact impact. So how do we get to this point where elites are gambling with their fortune as such away that stunts children? It's a name that we've heard a few times already today, Golden Sacks, once described by a Matt O'Vivian of Rolling Stone as a giant vampire squid ramming its blood funnel into anything that smells like money. So they must have self-baked when they came up with the idea for this commodity index fund, which is where the mathematics comes into it as well as they mentioned some very bright people behind these investment products. They bundled together a whole load of derivatives, commodity derivatives, energy, food, tournament something called an index, which behave like a stock or a share. So, the two deeply into the economics took me quite a while to understand it, but if I try, it's like we'll be here all day. So, you invest money in this thing and you make money out of it, track the prices of these index. Now, so they created this product, then there was a future modernisation act in 2000, which also called us Credit Deports, which basically opened up these markets to much bigger financial plays. Then you had, yeah. The Future's Modernisation Act, I think that that was in America, but I love it, yeah, depends where they traded, that that particular one was in America. And then there was the other places where people were usually invested, they're money started to dry up, so you had the top-crumb bubble burst, then you had the...