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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: Crimson Ghost who wrote (1030)10/21/2001 9:40:58 AM
From: Zeev Hed  Read Replies (1) of 99280
 
Yes, commodities are low right now, but even doubling them cannot soak all that money. A lot of people are already in commodities. You got to remember that the short positions of Barrick and Anglogold (about four times their annual production?), as well as massive short positions of GS and JPM, are long positions on the other side. One would argue that the open positions there are already excessive. The CRB at 186 is actually indicating that deflationary forces rather than inflationary forces are still in place, as I have argued for some time (it is the overcapacity that prevents the excess liquidity from creating inflation).

Zeev
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