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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: Murrey Walker who wrote (413245)	2/26/2011 3:28:27 PM
From: Katelew	Read Replies (1) \| Respond to of 793928

I completely agree with your thoughts regarding third world food. They are being unfairly punished because of the street's greed! I trade futures myself, so I'm all for speculation and greed, lol. I just think those of us who like to do this sort of thing have plenty of playgrounds available to us. Food commodities can be carved out and put into a different regulatory framework I believe. With the internet and number crunching ability of computers, most of the arguments for maintaining the status quo have become hollow. The main argument is that speculators around the world play a vital role in what's called "price discovery". In reality, price discovery has never been easier. A software program can determine immediately what the impact of a corn crop failure in the Balkans will do to worldwide production of corn. A satellite can measure the size of flooded wheat acreage in Australia and transmit this to every trading desk in the world. We've moved way beyond the age of the telegraph and eyes on the ground. Here's a funny little factoid. A few years back when food prices also were spiked up speculatively, I came across a little Bloomberg report that some Afghan farmers had planted wheat instead of poppies.