Nickel traders at the London Metal Exchange accused the exchange of favoring its giant customers and taking extraordinary steps to protect top clients like a Chinese tycoon and JPMorgan after there was a short squeeze on nickel. Clifford Asness, the founder of AQR Capital Management, took to Twitter on 10 March to accuse the exchange...
Tag: march 22 2022
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THE HUNT IS ON FOR NEW SOURCES OF NICKEL: “SELF-SUFFICIENCY” TOP TREND
The world’s market for nickel is in chaos, leaving manufacturers that need to search out new sources. Supplies from Russia, which historically have provided more than 11 percent of the metal to manufacturers around the world, have not been banned but are in jeopardy because of its Ukraine war. Earlier this month, a foul-up in...
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FED’S RATE HIKE BOOSTS CRYPTO FIRM’S VALUE
When the U.S. Federal Reserve raised interest rates last week, it gave a hand up to Circle Internet Financial, a young crypto firm that issues what it calls a USD Coin (USDC), a stablecoin the value of which is pegged to the U.S. dollar. Circle transforms investors’ dollars into USDCs, which it invests in cash...
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COMMODITY PRICE SPIKE AND SAG DRAMA
Global commodity markets bogged down last week as fears of geopolitical risk, exchange glitches, the risk of huge margin calls, caps on credit, and general price uncertainty sent a growing number of traders to the sidelines, taking markets’ liquidity with them. “Liquidity” is a measure of a market’s responsiveness and fairness. It is determined by...
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CORPORATE STOCK BUYBACKS ARE BACK IN STYLE
The rich get richer, the Bigs get bigger, and the equities markets keep rising higher as the money pumping schemes keep heating up. During the first two months of this year, corporations listed in the Standard & Poor’s 500 stock index have announced plans to repurchase $238 billion worth of their stock, a record for...
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FED RAISES RATE, SIGNALS MORE TO COME
The U.S. Federal Reserve’s Open Market Committee voted 8 to 1 on 16 March to raise its key interest rate by a quarter-point. Rates will now range from 0.25 to 0.50 percent. The lone dissenter was James Bullard, president of the Federal Reserve Bank of St. Louis, who wanted rates hiked by a half-point. “I...
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ECONOMIC OVERVIEW
Think about it! What’s the big headline making the news today? “BIDEN: AMERICA WILL LEAD NEW WORLD ORDER.” In his speech, President Joe Biden declared, “Now is the time where things are shifting. There’s going to be a new world order out there and we’ve got to lead it.” “Lead it?” Where? Down the crapper!...
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‘HERD’ MEDIA FINALLY ACKNOWLEDGES PART OF HUNTER BIDEN LAPTOP STORY
Claiming it was a hoax and never existed, The New York Times reported last week that it was able to finally authenticate emails from Hunter Biden found on a laptop just before the 2020 election, but was snuffed out by Big Tech and mainstream media companies. The Times which supported Joe Biden during the 2020 Presidential Reality...
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U.S. WAR HAWKS ON THE HUNT FOR PUTIN
Sen. Lindsey Graham, who recently called on someone to assassinate Russian President Vladimir Putin, said in an interview Monday that President Joe Biden is “owned” by his Russian counterpart. Graham—a fat mouth nothing of a man who could not fight his way out of a paper bag and has adored every war the U.S. started—was...
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UK: “FU” RT, ONLY ONE SIDE OF UKRAINE PROPAGANDA PERMITTED
Russian state-controlled RT news network saw its license revoked in the U.K. on Friday due to new laws from Moscow that essentially make it illegal to challenge the Kremlin’s narrative on the Ukraine War. Ofcom, the regulator, said it made the decision after an “independent regulatory process” and determined that the news outlet “is not fit and...