Oil went to $140 Goldman came out with a $200 number Gas prices were going to the moon And then the deleveraging began...... And the crash..... I assume the Fed said or did something in reaction to what was perceived as the beginnings of hyperinflation. But I don't recall them saying or doing anything. DOES ANYONE KNOW? OR HAVE A GOOD IDEA? To be honest, I think there is a good chance we will see that commodities zooming situation again in the next year. It might be demand from the rest of the world or a desire from the rest of the world to exit dollar positions that drives it, but I think it could happen again. Gold smells it now. So does silver. Oil not yet, but maybe it will in the spring when demand typically rises. And how will the Fed respond next time? I bet they are more careful not to cause a wanton deleveraging again, after seeing the deflationary impulse that resulted last time. I don't recall any overt Fed moves as per se, but yet all of a sudden all of the hedge funds were panicked out of EVERYTHING! Why did the banks all pull the credit lines all of a sudden? Or better yet, what in the hell were they doing lending to hedge funds at all in the first place, with 20 or 30 to 1 leverage? Odd... Why don't we read these kinds of discussions in the Fed meeting minutes?