That Food Crisis Thingy

In case you had an impression that the violence from Haiti to Bangladesh was all about biofuels, or global warming, utterly unrelated to the rising price of gold or oil or other investment opportunities hedge funds have been seeking since US real estate went south, Spiegel has a comprehensive feature. William Pfaff also has an excellent column. Warren Buffett didn’t think there was a bubble in agricultural commodities last year, but even then he said, “It’s like most trends: At the beginning, it’s driven by fundamentals, then speculation takes over. As the old saying goes, what the wise man does in the beginning, fools do in the end.”

     posted 23 April 2008 by Michael Scott Moore

  1. This was in the back of my mind when I was buying way too much gold as a percentage of my portfolio about four years ago…I was betting against the dollar and its loans and hogging it from every other country that would need it to back up themselves (that’s the over dramatic way to put it). I really did think about that. I am timid to admit what a guilty pleasure it was when I started selling it back to the markets at so much a profit that I practically started tithing to World Vision.

    e

    — e    Apr 26, 12:14 pm    #

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