More calls for commodities futures trading regulations!

At some point you are going to have to do something about commodities trading. Not just talk.

The FT reports that Gary Gensler, chairman of the US Commodity Futures Trading Commission,the US futures regulator, said on Tuesday the agency would hold hearings to determine whether federal speculative limits should be set on “all commodities of finite supply,” in particular oil, natural gas and energy commodities.

This may be a little harsh, but we need to go hard the other way in order to see our way around making it better for everyone.

However, we have had commentary that these measures would do nothing to curb the high price of oil. The problem has always been OPEC. They cut supply when they want to and have done so in the last few months, in order to raise the price of oil.

I think we need to deal with both of them in a way that shuts them down. Let's face it, no one will be upset if we clamp oil producing countries. In fact, we can really put them into the international sphere and further put pressure on them like how we have done with Iran and now, we have put a regime in place in Iraq that is stable--regardless if the war was necessary or not, removing Saddam Hussein did work out to a more stable government in Iraq.

As with commodities trading, I wrote an article earlier about what we need to do to look at the issue. Here.

Hopefully my recommendations would hit the main stream blog matrix and be seen by someone who reads into these things. And, magically, end up as a talking point. In fact, my first point and last point, adds up to what the main point about trade limits and transparency at the end of the FT article.

We can only hope that there will be more.....