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.”
Another canceled nickel session on LME today
jfc pic.twitter.com/89CzhjAkp5
— Hide Not Slide (@HideNotSlide) March 23, 2022
And Nickel is limit up again today, +20%.
JUST IN:
SHFE #nickel trades up by 20% exchange limit immediately after market open.#nickelsqueeze— CN Wire (@Sino_Market) March 24, 2022
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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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 ?
Best way to play nickel is to collect 1946-2014 nickels
https://www.coinflation.com/
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…
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
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