Speculation @ No 10?

There was a fantastic smell of freshly ground coffee floating around the corridors this morning! Even a cat likes the smell - in case you're wondering! But there was also quite a fuss and bother - all around coffee!

"Do you know, Prime Minister, that the price of a cup of coffee costs now over £2, in several cafes?"

"Umm ... not really thought about it, old chap!" Boy David appeared rather disinterested in the conversation.

"Well, Prime Minister, you really should think about it!" The well dressed young man said in urgent tones.

"Whatever for? If people are prepared to pay £2 for a cup of coffee, fine and dandy. If not, then let them go home and make a cup of ... what do they call it ... instant?"  He uttered this in rather patronising tones, I thought.  He had already forgotten his mantra of yesterday - to be charming to all and sundry - no matter how humble, they be!

"It's really rather more important than that, sir! You don't seem to understand, if you'll forgive my  saying so," He added this hastily, when he saw the PM's eyebrows shoot up!

"Really? How so?"

"The hedge fund lads are indulging in vast speculation on commodities.  Recently, it was chocolate, then copper, then wheat..."

"So?   What do you want me to do about it?  You should really be telling George about this, not me."

"Strictly speaking, that's true Prime Minister.  But, it's not just investors and the like who will be affected.  Prices in those commodities will shoot uncontrollably all over the place.   There could even be shortages."

"Ummm .."

"President Nicholas Sarkozy said, 'Speculation in agricultural commodities is nothing more than extortion and pillage'.  Of course, the people in the City don't agree with him - to put it mildly. They say he's Anglo-Saxon bashing again!"

"Probably is!"  Boy David looked bored.   "So why are we having this conversation?  Remind me."

"Well, Labour did nothing about the Banks, did they?  You really don't want the people saying that the Coalition allowed commodity speculators to run rough-shod over everyone and that brought the cost of living to unbelievable heights, do you, Prime Minister?  It wouldn't do us any good in the polls!"

When he heard these last few words, Boy David went quite pale!   He picked up his mobile and yelled, "George! George - get over here ... No! Now!"

I beat a hasty retreat.  I saw the manic look in Boy David's eyes.  If there's one thing he will not have, it is any comparison with the 'hateful' Labour lot!  That's the way to get action from him!

I'll talk to Arturo about these traders.  The name Glencore rings a bell!  Hope they don't start speculating on fish, milk and cat food!