...

Um, something to add to that?

Interestingly, this problem was presented two years ago via an article below where it was described in detail showing that banks were behind the investment in collectives but also how the CFTP let them. Blaming the banks because their regulator allowed the rules to be changed is a bit rich.

An extract from the article will give you an idea of its accuracy as the world was heading for inflation - it said - forget that, cited the presentation to the Senate in San Francisco in 2008 May and said - worry about deflation.

Two years later we have action and reaction. I wonder why.

extract and link:
At no point in the past has there been greater confusion about the future than today. I will attempt to explain why we are in such a state of flux by explaining the real culprit behind rising food and fuel. Stay with me on this one.

The ‘bong’ news headlines brimmed with despair last week with reports about the price of oil. The world is doomed it would appear, or is it?

On one side we have driving inflation caused by issues we cannot control (food and energy), and on the other side we have a plummeting economy with house prices taking a bashing, and the Times reporting that house completions dropped to a 30 year low.

The news now reports that interest rates will have to rise to curb inflation! Are you really suggesting that I will eat less or drive less because you take money out of my pocket through interest rate rises?

Whilst dealing with any matter I have always believed that if something does not make sense, it is either wrong or I am stupid. I always investigate both options.

The real villain is purported to be two issues, namely the ‘credit crunch’ and food/energy costs driven up by excessive demand.

Nothing could be further from the truth, and it is very concerning why nothing is being done about it. .....

The US is a slave to the federal reserve system!