Walls to Block Deflation

``The biggest elephant in the wayward Deflationist living room is the strong crude oil price. If deflation (whatever they believe that means) is to dominate, then the crude oil price should be around the 40 level. It should be scraping the bottom. Instead, it has staged a rebound that has endured for four months. Put the copper price chart aside, and turn to crude oil, which is still heavily traded. The two principal pillars of the crude oil recovery in full view are US$ monetization by the USFed and USDept Treasury, along with the broad deployment of US$ hedges by private investment houses and sovereign wealth funds.''