RUBLE SOARS AGAIN, BELARUS LAUNCHES A “SPECIAL OPERATION” — STOCKS YAWN

I get the sense this Ukrainian war will become another Syria, with countless dead and country is ruins. No one seems to want to stop it. The Polish President said yesterday it was meaningless to discuss anything with Russia, opting instead for a scorched earth policy. It’s very easy for him to say this within the confines of Warsaw. The very last thing we should want, as civilized people in the 21st century, is war.

This morning Belarus basically said they invaded Ukraine.

LUKASHENKO SAYS BELARUS HAS CARRIED OUT SPECIAL OPERATION IN UKRAINE TO RELEASE BELARUSIAN CITIZENS – RIA

Stocks are somehow sanguine and commodity markets more of the same. The big story is the move in the Ruble, now at the $75 level vs the dollar up nearly 5% for the session. The currency is now higher than where it was before the invasion, a testament to rigged markets and the fact that the Fed isn’t the only central bank who can manipulate prices. But it is worth noting, there are reasons to own Rubles, even though you cannot. India is doubling down on their position to side with Russia for trade and it doesn’t look like China gives a fuck what we think.

It should be noted, Pelosi is scheduled to visit Taiwan, her first visit there in 25 years and the Chinese are irate. Maybe out grande scheme is to just wage war with all of the countries that pose a threat to us, all at once. It seems very stupid to saber rattle like this, but perhaps this is a side effect of western decadence and comfort — now lashing out at the windmills in its way.

I closed out my shorts this morning and bought some more commodity exposure to go with my portfolio of mostly large cap divvy stocks.