iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
22,284 Blog Posts

California to Pay Car Owners $400 Per Car Due to Putin’s Invasion of Ukraine; Nickel Limit Up Again

In an effort to assuage the masses, Gov. Newsom is proposing giving residents up to $800 per month in order to pay for their gas, citing Putin as the prime reason as to why gas prices are sky high. Ironically, it is exactly programs like this that will continue to denigrate the purchasing power of the dollar, in an never-ending, self-consuming, cycle of inflation that will decapitate purchasing power.

“We’re taking immediate action to get money directly into the pockets of Californians who are facing higher gas prices as a direct result of Putin’s invasion of Ukraine,” Newsom.

Yesterday Nickel was “limit up” on the LME, so the exchange decided to cancel the entire trading day — rending all trades “null and void.”

And Nickel is limit up again today, +20%.

We have not heard what the LME intends to do about this sharp increase in the price of nickel again. One could only assume some very powerful people are short and will request the LME cast all trades today as “null and void” again, giving the cabal a chance of reset and play the game again tomorrow.

Russia accounts for roughly 10% of worldwide nickel supply.

UPDATE: THE LME CANCELS ALL TRADES AS ‘NULL AND VOID’ FOR SECOND SESSION IN A ROW.

LME SAYS SECOND RING SESSION ON MARCH 24 IN NICKEL WILL BE DEEMED A DISRUPTED SESSION AND ALL AGREED TRADES DURING THIS SESSION WILL BE NULL AND VOID

Here are some other headlines.

GERMAN COALITION PARTIES SHUT DOWN OF COAL-FIRED POWER PLANTS CAN BE SUSPENDED

U.S. TREASURY SAYS GOLD-RELATED TRANSACTIONS INVOLVING RUSSIA MAY BE SANCTIONABLE UNDER U.S. AUTHORITIES

UKRAINE DEFENCE MINISTRY SAYS RUSSIA IS SENDING MORE MILITARY EQUIPMENT TO BELARUS TO BOOST EFFORT TO SEIZE KYIV

RUSSIA MOVE TO RUBLES FOR GAS WOULD BE SECURITY THREAT: BIROL

UKRAINE PRESIDENT TELLS NATO UKRAINE NEEDS FIGHTER JETS, TANKS, BETTER AIR DEFENCE AND ANTI-SHIP WEAPONS

OLDER PEOPLE MAY NEED ANNUAL COVID BOOSTERS, MODERNA CEO SAYS

RUSSIAN FOREIGN MINISTRY: RUSSIA WILL RETALIATE OVER POLAND’S DECISION TO EXPEL RUSSIAN DIPLOMATS.

UKRAINE CALLS EU COUNTRIES TO NOT PAY RUSSIA IN RUBLES FOR GAS

GERMANY TO SEND 2000 ANTI-TANK WEAPONS TO UKRAINE, UK TO SUPPLY 6000 MISSILES – PRESSTV

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5 comments

  1. the_wolf

    Are you playing nickel?
    Sounds like Jamie D (ickhead) is manipulating he lme due to the potential losses he’d have to cover for those obliterated Asian short positions ?

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  2. metalleg

    Best way to play nickel is to collect 1946-2014 nickels

    https://www.coinflation.com/

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  3. soupbone

    much as I hate gold markets, gold might break free amid this grim outlook. Once central banks stop trusting each other due to over-printing, over-expansion, traditionally gold steps up. Inflation in wartime is inevitable but the recent expansion for mainly politicians benefit was a damn shame. What changes the scenario this time is that Russia has united the free world very tightly together including the central banks of all the nations in full cooperation for the time being.

    being a perenial pessimist I am now looking beyond stagflation. We could well have inflation and deflation at the same time; many prices going up and asset values and wealth dropping…

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  4. roguewave

    Where’s my gas subsidy check????
    Everyone else is getting one.

    @AvidCommentator
    That moment where you try and address inflation by printing and then spending billions of Euros…..
    @C_Barraud
    ?? #GERMANY TO PAY ONE-TIME ENERGY SUBSIDY TO TAXPAYERS OF EU300 – BBG *GERMANY PLANS 30 CENT/LITER GASOLINE PRICE CUT

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    • roguewave

      The funny part is, psychologically (and politically) it will still sting at the pump when you see that $5.00 or $8.99 per gallon gas going into your tank – even if you got a subsidy check

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