Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
I guess the answer is in his following words: "just in case a bad harvest created a sudden shortage".

Another point, which I addressed in an earlier diary (http://www.dailykos.com/story/2008/4/11/102334/169/74/493181), it fingered commodities brokers, worldwide, who, in the light of the falling US dollar, hedged themselves against it by panic buying hence larger hoards. So perhaps that's what Krugman alluded to though, like you, I fail to see the logic in that approach.

by Asinus Asinum Fricat (patric.juillet@gmail.com) on Sun Apr 20th, 2008 at 01:20:08 PM EST
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