This is interesting, and perhaps alarmist. It looks like the SEC is greenlighting financial instruments that buy up and hoard physical copper, which is a big change. The article says it could happen to grain or any other vital supply.
A lot of people scream for a free market, but they don't usually mean cornering markets, hoarding commodities, or any other traditionally destructive practice. It looks like something to be aware of as this one gets slipped through with no law in back of it.
Now if only folks thought about this equation back when energy was off limits to gross market speculations. Remember when (G.H.W.Bush @ 1 term.)gas tax increases of pennies was enough to get your lower hanging political sack slung in a vice? "We and our nations economy can't afford excessive taxes!" Oh, but when the oil companies raise prices by hundreds of percent based on formulaic potential regional risks and terror at will. Well we just bend rite over and ask for just one more fist,, No! Stop wait! I meant digit!
ReplyDeleteYes if the specific revenue increase can go even if only 100% to the direct benefactors of such tax increase sources, Like roads from gas and transportation fuels, energy efficiencies from utility sources and land cleanup abatement (Not just "Brown Fields" exemptions and legislation) for the bulk of petroleum and most especially coal producers, healthcare from tobacco and maybe some other toxic vices.
But no we can't afford it unless hedge funds twist their propagandist and pass some of that fresh S.E.C. new green under the table. Nah, who needs under the table? We'll pay off those that complain. Til we get those pesky laws swept away. Don't get me started. OPPS! TO LATE.