If that's what you meant by leftist conspiracy/speculators, then it would have helped if you would have said it that way.
On another note, I've been reading the financial press on commodity prices, etc. And there is no doubt there is an argument about supply and demand. But, in the serious financial press, there is also a very serious argument about speculators popping the prices way up right now. The most recent appeared in Barrons within the past three or four weeks. If you're interested, you can go to their website, or I'll be happy to find it for you.
The argument was that because speculators have driven the price up well above what the fundamentals would involve (Kate's argument), it might not be time to buy into commodities. And the speculators argument was given some serious evidential base. So, as position I had started to build, very small one, in a commodity ETN, I backed out of. It's up from there but the money is working just as well in other, more secure places.
My point--the argument about speculators driving the price up is a real argument, or capable of being a real argument. Depends on who makes it and with what evidence. That it occurs is undeniable. |
