FX Traders Rigging Rates Squeezed Dairy Farm Where Keynes Roamed

Ed Gribble gets up at 5 every morning regardless of the weather to feed the 180 cows on his farm in Sussex, a rural idyll on the south coast of England, adjacent to where economist John Maynard Keynes once lived.

Gribble, whose family has toiled on this land for three generations, works more than 13 hours a day and uses the highest-yielding breed and most up-to-date farming techniques. Still, he barely scrapes a profit as a glut in supply and slackening demand push the price of milk below his production cost. If it weren’t for the subsidy he gets from the European Union, he’d have to sell his Holstein Friesian cows.