| In a speech to European policymakers in June Nicolas Sarkozy, the French president, encouraged his audience to be serious about “fighting the mafia”. He was not referring to a French Tony Soprano, but rather that other breed of criminal: commodity speculators, whom many politicians on either side of the Atlantic blame for dramatically pushing up the price of oil and food and contributing to volatility.
America is leading the charge. As part of a new financial-reform law, the Commodities Futures Trading Commission (CFTC) is proposing “position limits” on the amount of derivative contracts, including futures and swaps, a trader can hold for 28 commodities..............................................Full Article: Source |