Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. We also cover hedges, derivatives, and obscura. Most of these items are from the “tangibles heavy” contrarian perspective of SurvivalBlog’s Founder and Senior Editor, JWR [1]. Today, we look at the global economic fallout created by Russia’s invasion of Ukraine. (See the Tangibles Investing section.)
Precious Metals:
Palladium extends rally as Russia supply risks mount, gold eases [2].
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Gold Silver, still bullish despite volatility [3].
Economy & Finance:
US, allies weaponizing sanctions to curb Russian aggression [4].
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At Zero Hedge: “Don’t Get Too Excited” – Bill Gross Warns Investors That Surging Inflation Will Topple Stocks [5].
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Russian Stocks Devastated In London As Moscow Exchange Remains Closed [6].
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Reader H.L. sent this: Billionaire Ray Dalio has two looming concerns about Ukraine that should worry every investor [7].
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Russian Stocks Are Nearly Worthless as Ukraine Sanctions Bite [8].
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Apple & Google Payment Systems Block Russians, Causing Chaos in Moscow Metro System [9].
Commodities:
Commodities Jump Most Since 2009 as Ukraine War Threatens Supply [10].
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Chaos in commodity markets persists amid Ukraine conflict [11].
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The Reality Checks of the Ukraine Invasion | Independence, Gun Rights, and Military Readiness [12].
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Metinvest declares force majeure amid Russia’s invasion of Ukraine [13].
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Why Russian oil can’t find buyers even as crude nearly touches $120 a barrel [14]. A quote:
“Oil futures ended lower Thursday after the U.S. benchmark CL.1, 1.08% [15] hit a nearly 14-year intraday high of $116.57 a barrel in early trade. Brent crude BRN00, -0.02% [16] also finished lower after hitting a session high at $119.84 a barrel, its highest since 2014.
Meanwhile, a growing premium for nearby oil futures contracts over later months — a phenomenon known as backwardation in commodities trading lingo — underlines how worried traders are about the ability to secure crude in the near term.
The premium for May Brent over the contract for delivery nine months later temporarily topped $20 a barrel, a level not seen since the 1990s, noted Edoardo Campanella, an economist at UniCredit Bank in Milan.”
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As a couple of data points:
The melt value of a U.S. nickel 5-cent coin is now back above 7 cents. So, hold on to your nickels! [17]
Meanwhile, pre-1982 copper pennies are worth 3.13 cents each, and even the debased zinc (post-1981) penny is now worth just over one cent in melt value.
To track current melt values, see: Coinflation.com [18]
Inflation Watch:
Five ways the Russian invasion of Ukraine could impact the US economy [19]. A quote:
“The most immediate impacts will be further inflation in agricultural commodities and ultimately food prices. Americans should expect to be paying more for their grocery bills this upcoming year…”
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Forex & Cryptos:
Battered rouble puts brakes on slide in Moscow, hits record low outside Russia [21].
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Euro tests support as Ukraine crisis threatens economic growth [22].
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S&P cuts Russia’s rating to junk, Moody’s issues junk warning [23].
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Predictably, the exchange rate for the Ukrainian hryvnia [24] has also suffered.
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A Crucial Clue in the $4.5 Billion Bitcoin Heist: A $500 Walmart Gift Card [26].
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Data Show Ruble-Denominated Crypto Pairs Are Spiking [27].
Tangibles Investing:
NASCAR’s Richard Childress to help provide ammunition to Ukraine [28].
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Palmetto State Armory [29] (one of our affiliate advertisers) is rapidly selling out of their Russian-made 5.45×39 and 7.62×39 ammo. Stock up. There will be no more imported!
Provisos:
SurvivalBlog and its Editors are not paid investment counselors or advisers. Please see our Provisos [30] page for our detailed disclaimers.
News Tips:
Please send your economics and investing news tips to JWR [1]. (Either via e-mail or via our Contact form [31].) These are often especially relevant because they come from folks who closely watch specific markets. If you spot any news that would be of interest to SurvivalBlog readers, then please send it in. News items from local news outlets that are missed by the news wire services are especially appreciated. And it need not be only about commodities and precious metals. Thanks!