It is still fashionable in official circles to blame speculators for weak currencies.

ECONOMIST: Asian currencies

So blame speculators or global demand as you see fit.

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Blame speculators or oil industry profits.

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Burnham doesn't blame the speculators, who have had, after all, very little experience.

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Putting the blame on speculators and greed has a powerful appeal but, as this special report has argued, it is too simplistic.

ECONOMIST: Shifting the balance

Ironically, though, there may be little evidence that market "speculators" deserve significant blame for Greece's funding problems.

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If the speculators are not to blame, what about the oil companies, which have failed to increase output in spite of record profits?

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It is a great relief to hear the FAO be partially market savvy when they say that speculators trading commodities on the financial markets are not to blame for the huge rise in prices.

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