EC-CommoditySpectulatornov.docVIP

Commodity Speculators: Page  PAGE 3 of  NUMPAGES 3 The charge-sheet against commodity speculators is flimsy The Economist, Nov 11th 2010 (937 words) (1) ONIONS are an important ingredient Ingredient = component in the history of commodity Commodity =  HYPERLINK /5873/Commodities.html Commodities  HYPERLINK /9996/include.html include  HYPERLINK /definition/agricultural.html agricultural  HYPERLINK /definition/product.html products,  HYPERLINK /definition/fuel.html fuels,  HYPERLINK /definition/metal.html metals, etc., and are traded in  HYPERLINK /definition/bulk.html bulk  HYPERLINK /9376/cut_down_on.html on a  HYPERLINK /definition/commodity-exchange.html commodity exchange or on  HYPERLINK /definition/spot-market.html spot market. speculation. In 1958, after American growers moaned that speculators were behind see-sawing prices, legislation banned trading in onion futures. Futures =  HYPERLINK /definition/commodity.html Commodities or  HYPERLINK /definition/securities.html securities contracted for  HYPERLINK /definition/delivery.html delivery at a stated  HYPERLINK /9809/future.html future date at a specified  HYPERLINK /definition/labor-rate-price-variance.html price. Such a  HYPERLINK /definition/contract.html contract (called  HYPERLINK /definition/futures-contract.html futures contract) itself can also be traded. Now critics are stewing over Stewing over = become agitated (angry) over speculators again, thanks to rising prices in everything from oil to metals and grains. Such is the turmoil speculators are believed to cause that Nicolas Sarkozy may use France’s presidency of the G20 G20 = The G-20 was formed in 1999 to give developing nations more of a voice in forming the global economy. Its members include: the eight leading industrialized nations - U.S., Japan, Germany, UK, France, Italy, Canada and Russia (also known as the  HYPERLINK /od/internationalorganizations/p/G8_Summit.htm G-8).