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Rewind: Gates Foundation Buys 500,000 Shares of Monsanto

January 19, 2011

Monsanto owns the largest seed bank in the world, They have patented their seeds so farmers must pay them for planting crops.

Glendive, Montana. La Via Campesina (www.viacampesina.org), a global peasant movement representing small farmers, landless workers, fisherfolk, rural women, youth and indigenous peoples, with 150 member organizations from 70 countries on five continents, has denounced the Bill & Melinda Gates Foundation Trust’s recent acquisition of Monsanto Company shares. The Bill & Melinda Gates Foundation was founded in 1994 by Microsoft founder William H. Gates, and today exerts a hegemonic influence on global agricultural development policy. The Foundation channels hundreds of millions of dollars into projects that encourage peasants and farmers to use Monsanto’s genetically-engineered (GE) seed and agrochemicals. In August the Bill & Melinda Gates Foundation Trust, which manages the $33.5 billion asset trust endowment that funds the Foundation’s philanthropic projects (and to which Bill & Melinda are trustees) disclosed that it purchased 500,000 shares of Monsanto shares for just over $23 million.(1)

According to Dena Hoff, a diversified family farmer in Glendive, Montana and North American coordinator of La Via Campesina, “The Bill & Melinda Gates Foundation Trust’s purchase of Monsanto shares indicates that the Gates Foundation’s interest in promoting the company’s seed is less about philanthropy than about profit-making. The Foundation is helping to open new markets for Monsanto, which is already the largest seed company in the world.”

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