Stop That

From Food for thought by Thomas Kostigen:

When the costs of food, energy and water as well as other commodities are soaring because of prices in the futures markets we have a problem on our hands. This is exactly what is playing out before us now.

There is another agent at work in the commodities markets, one that is setting the prices of our natural resources and in turn the food on our table and the price of the gas at the pump. This agent isn't a farmer or an oil producer. This agent wears a suit and tie and sits in front of a trading screen. His or her job isn't to produce anything, it's to exploit anything. And it's time we curbed this profession.

Speculation in the commodities futures markets needs to be limited.

Read the rest here.