Kung Fu Trader » WELCOME wrote an interesting post today on
Here’s a quick excerpt
Everyone is looking for someone to blame for high prices of oil and other mineral and agricultural commodities.    Speculators (among others) are high on the list, followed by the Federal Reserve.    While I don’t think blame is necessarily the right concept here, I have been arguing that low real interest rates have worked to raise real commodity prices through a number of channels.  Each of these channels could be called “speculation,” if speculation is defined as behavior based on expectatio

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