07.02.2011 - Asutralia: Time for a sovereign wealth fund
From Smh.com.au: As with any boom, few will pick the top for copper, or commodities in general. But when that rainy day comes, it will be too late for Australia to open a savings account. Surely, it is time now to set up a sovereign wealth fund. (The Future Fund is commonly mistaken for a sovereign wealth fund but its purpose is to cover public servants' superannuation liabilities.) Ten years ago, copper fetched US80 a pound. Now it sells for $US4.50. All commodity prices have shot through the roof: base metals, coal and gold, and soft commodities such as sugar and wheat. All of which Australia has in abundance..............................................Full Article: Source
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