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Gold/Mining/Energy : Precious and Base Metal Investing

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To: austrieconomist who wrote (14740)	7/25/2003 9:08:21 AM
From: russwinter	Read Replies (3) of 39344

All this baloney about deflation while money gets printed unabated for a decade has set up monster commodity trades. That's why we are seeing rumblings in silver and big bond price declines. When Greenspan and his ilk (what kind of rock did this Bernanke idiot crawl out of?) signal this nonsense to the market it influences participants to take the wrong action. There are just too many "deflationists" traders out there, with too many deflation playbooks. Corn is a good illustration of this. I wish I could post Hightower Report's 25 year chart (subscriber based) of world corn ending stocks vs stocks to usage. But it shows quarter century lows in ending stocks (about 85 million metric tonnes). Meanwhile corn price is on it's butt (about 2.11 a bushel) , and the COTs are long a near record 75,544 contracts. This is a market set up to explode on any bad weather, or crop report. I am now long a bunch of Dec corn contracts. And despite strong oil prices, the market has insisted on selling off the energy stocks. Just insists on discounting $20 oil and $3.50 gas, what a gift. There is no accounting for China at all: bcaresearch.com

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