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
22,270 Blog Posts

Russian Mobilization Coming Soon?

Over the next week several parts of what was Ukraine will vote to become part of Russia, including the Kherson region. The Russian MOEX is down nearly 6% today, up from down 10%, on news that the Russian Duma will escalate the war with a bill passage tomorrow.

Here is the chatter.

It seems to me from an amateur point of view, this is a long time coming — all things considered. Russia has been fighting the entire NATO military-industrial complex from the beginning, so it only makes sense they would legally escalate their capabilities should they need more personnel. This of course bodes terribly for everything else in the world and should make you feel uneasy in Europe, providing you need gas to heat your homes.

The Dow is -320, NASDAQ -110 and there is also weakness in WTI. I would, however, take any weakness in WTI with a grain of salt, considering Biden is literally emptying US stocks at a record pace to artificially reduce the price of crude. This program will cease soon and by early 2023, the US will have to buy back 10s of millions of barrels of crude.

I’m holding firm with a net bias long, -50bps early going.

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One comment

  1. roguewave

    I wholeheartedly approve emptying the entire SPR (if that’s what it takes) for this national security emergency. What could be more important. It’s for the kids – our future. The kids simply must get back to school. And folks must have gas to drive to the mailbox to vote in Nov.
    Things will turn out well I’m sure.

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