Monday, June 23, 2008
Are speculators deliberately bringing the global economy to the brink ?
The last time this happened was during the Asian Currency crisis, when all the then so called 'Tiger Economies' were destroyed by speculation in their currencies. Who were these speculators ? George Sorros was definitely one of them. Who are these people that in the name of return on investment actively go out to destroy the livelihoods of millions of people ? With the rise in food prices all over the world leading to food riots, and now the sudden rise in oil prices that will completely hamper food distribution, the world is heading to the brink of economic turmoil. Both the rise in food and oil prices have not been caused by sudden shortages. They have been caused by immense speculation and trading in commodity futures. Remember that trading in commodity futures, rather than easing price fluctuations as economic theory teaches you, actually creates artificially high prices.
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