A Quote by Steve Hanke

Let the market, not politicians, determine the flow of rice, oil and other commodities. Lower, more stable prices will ensue.

Steve Hanke

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Commodities Determine Flow Lower Market More Oil Other Politicians Prices Rice Stable Will

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Steve Hanke
American - Economist
Born: December 29, 1942

Almost all of the demand for oil that suddenly pushed prices up was speculative demand. People began to speculate not only in stocks and bonds and real estate, but also in commodities. The market went up for old tankers, which were used simply to store oil in. A lot of the oil was simply being stored for trading, not used.

Michael Hudson

Lower oil prices won't, by themselves, topple the mullahs in Iran. But it's significant that, historically, when oil prices have been low, Iranian reformers have been ascendant and radicals relatively subdued, and vice versa when prices have been high.

James Surowiecki

High prices can be the result of speculation, and maybe plunging prices can be attributed to the end of speculation, but low prices over time aren't caused by speculation. That's oversupply, mainly by Saudi Arabia flooding the market with low-priced oil to discourage rival oil producers, whether it's Russian oil or American fracking.

Michael Hudson

In a narrow market, when prices are not getting anywhere to speak of but move within a narrow range, there is no sense in trying to anticipate what the next big movement is going to be. The thing to do is to watch the market, read the tape to determine the limits of the get nowhere prices, and make up your mind that you will not take an interest until the prices breaks through the limit in either direction.

Jesse Lauriston Livermore

This morning, prompted by increasing concerns about terrorism, oil prices reached a record high as the cost of a barrel of crude is a whopping $44.34. Wow, it seems shocking that a product of finite supply gets more expensive the more we use it. Now the terror alert means higher oil prices, which oddly enough means higher profits for oil companies giving them more money to give to politicians whose policies may favor the oil companies such as raising the terror alert level. As Simba once told us: "It's the circle of life."

Jon Stewart

In almost every walk of life, people buy more at lower prices; in the stock market they seem to buy more at higher prices.

James Grant

Money is different from all other commodities: other things being equal, more shoes, or more discoveries of oil or copper benefit society, since they help alleviate natural scarcity. But once a commodity is established as a money on the market, no more money at all is needed. Since the only use of money is for exchange and reckoning, more dollars or pounds or marks in circulation cannot confer a social benefit: they will simply dilute the exchange value of every existing dollar or pound or mark.

Murray Rothbard

Soaring prices for crude oil, falling production surpluses, wild speculation in commodities, a rush into the precious metals, turmoil in the Middle East, assertive oil producers: it is 1973-74 all over again, and at dictation speed.

James Buchan

Accept certain inalienable truths, prices will rise, politicians will philander, you too will get old, and when you do you'll fantasize that when you were young prices were reasonable, politicians were noble and children respected their elders.

Mary Schmich

The one thing people seem to forget is the more oil we have, the lower the price and the lower the profits the oil companies make.

David Pratt

This issue is not economic but political. I hope that all market participants interested in maintaining stable and reasonable world energy prices will finally make the right decision.

Vladimir Putin

The world wants India to remain an import-based economy. Then India can be a dumping ground where gold can be dumped and other commodities such as oil and gas. They look at India as a huge market.

Anil Agarwal

Rice at present prices provides more food for the money than most of the other cereals.

David F. Houston

You can no longer buy commodities at Merrill Lynch. My guess is many analysts and even executives are too young to know how profitable a hot commodities market can be. They will soon.

Jim Rogers

Control freak politicians never rest, and a few of the more dedicated ones are working relentlessly to slap chains on the world's most unfettered market. The Marketplace Fairness Act will end up forcing consumers to pay higher prices for the goods they desire.

Kane

We're hopeful it won't climb much more than that (10 percent). The reality is we're all looking at the price per gallon of gasoline and heating oil, and even cord wood, and we're seeing prices that are volatile and I don't think anybody can accurately predict what we'll be paying for these commodities in two weeks, let alone two months.

Martin Murray

A Quote by Steve Hanke

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