Ukraine is claiming they killed 1400 Russians since yesterday and have been needing to use secondary waves of men to keep pace. Russian armored columns are slowly but surely making their way to Kyiv, in what will inevitably be a terrible battle for the capitol. Simultaneously, Russia is prepared to have peace talks with Zelensky in Minsk, which doesn’t seem likely since Belarus is a belligerent.
Here are some relevant headlines for the day.
GERMAN FOREIGN MINISTER BAERBOCK SAYS WE NEED TO PAVE THE WAY FOR TARGETED SANCTIONS AND NOT JUST SANCTIONS THAT SOUND BIG || SAYS CUTTING OFF RUSSIA FROM SWIFT WOULD MEAN THAT ORDINARY PEOPLE CAN NO LONGER TRANSFER MONEY TO RELATIVES IN RUSSIA
THE KREMLIN: WE RECOGNISE ZELENSKIY AS UKRAINE’S PRESIDENT.
Ukraine is ready to negotiate a neutral status with Russia, but it must also receive security guarantees, adviser to the President of Ukraine Mikhail Podolyak said in a statement.
“This war must be stopped. These hostilities must be stopped.”
CHINA’S XI TOLD PUTIN HE RESPECTS RUSSIA’S ACTIONS, AFFIRMED READINESS FOR CLOSE COORDINATION AND MUTUAL SUPPORT AT UNITED NATIONS – KREMLIN
RUSSIA HAS PREPARED SANCTIONS TO HIT WEST’S WEAK POINTS: IFX
KREMLIN: OUR EXPECTATIONS OF KYIV REMAIN THE SAME, RUSSIA DOESN’T CHANGE ITS POSITION LIKE A “GIRL”.
RUSSIA: WE ARE LIVING IN A MULTIPOLAR WORLD. NEW CENTERS OF POWER ARE EMERGING AND THIS SHOULD BE TAKEN INTO ACCOUNT BY THE WEST. THE UNITED STATES CANNOT UNILATERALLY DECIDE
In short, crippling sanctions on Russia, really just excluding them from the rest of the world, while at the same time Russia is preparing to target the weak point of the west. That has to mean gas and perhaps other important commodities. Interestingly, commodities are COLLAPSING today, as that trade got crowded and it now unraveling.
GOLD -2%
WTI -0.7%
NATTY -2.4%
WHEAT -4.6%
CORN -3.2%
SOYBEANS -2.3%
PALLADIUM -7%
CATTLE -2%
Crowded trades usually get mud-stomped like this when people head for the exits. Perhaps the offer of peace talks is causing people to exit the trade, or maybe it’s financial rigging of some sort. One thing is also notable, interest rates are back on the rise, back to previous highs of 2% on the 10yr. This will apply pressure to mortgages and junk credits.
I’m at 100% cash — markets look like they’ll open up slightly to the upside — but I am not too eager to step back in yet.
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First off, Fly … have to give you credit you called this sucker.
Here is an extraordinary Univ. of Chicago guest lecture from 2015 that is every bit current now and explains the situation thoroughly and (probably) precisely:
https://youtu.be/JrMiSQAGOS4
CHINA’S XI TOLD PUTIN HE RESPECTS RUSSIA’S ACTIONS, AFFIRMED READINESS FOR CLOSE COORDINATION AND MUTUAL SUPPORT AT UNITED NATIONS – KREMLI
Whoa!
You can say that again
CHINA’S XI TOLD PUTIN HE RESPECTS RUSSIA’S ACTIONS, AFFIRMED READINESS FOR CLOSE COORDINATION AND MUTUAL SUPPORT AT UNITED NATIONS – KREMLI
Whoa!
Peace talks is Russian code for,…
Impending doom and death
Piece talks.
As in, “we’ll blow you to pieces.”
No one is scared of Putin. He is the bully that everyone would be glad to pile on.
It surprises me a little that he is actually this stupid and self-unaware.