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. Today, we look at the tumbling Russian Ruble. (See the Forex & Cryptos section.)
Precious Metals:
Here’s Why US Threats Against Russian Gold Reserves Mean a Monetary Reset Is Imminent.
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Video interview: ‘I’ve never seen this kind of volatility’ in gold; Gary Wagner calls for bigger moves ahead.
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Platinum market surplus to fall by 47% in 2022 as demand continues to grow – WPIC.
Economy & Finance:
Joe B. sent us the link to a recent commentary from Tucker Carlson that centers on tech monopolies and inflation: This Is The Biggest Tax Increase in Your Life.
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At Zero Hedge: “Credit Is Cracking”. Here is an excerpt:
“In the U.S., investors pulled $5.4 billion from corporate high-grade funds in the biggest weekly exodus since April 2020, according to data from Refinitiv Lipper for the period ended March 9.
Even those safest dollar corporate bonds losing more than 8%, while equivalent euro-denominated debt has lost more than 4.7%, according to Bloomberg index data, but European corporate credit is facing further blows as the ECB – the biggest buyer – prepares for a faster-than-expected exit from the market.”
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When Will Fed Raise Rates or Taper?
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At Wolf Street: Alibaba Plunges Below First-Day Closing Price in 2014. Golden Dragon China ETF Plunges Below its 2007 Price.
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Goodbye ATMs: Australia is eliminating physical currency, expects to become a ‘cashless society’ by 2031.
Commodities:
H.L. sent us this: JPMorgan Emerges As Largest Counterparty To Chinese Tycoon’s Massive Nickel Short Squeeze.
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London nickel market freeze extended to sort out big trading loss amid Ukraine war. JWR’s Comment: We can expect some theatrics when they resume trading nickel contracts. Hold on to your nickels, folks!
Update: As of 7:30 AM Monday morning, Pacific Time (late afternoon, London time), nickel trading at the London exchange is apparently still closed!
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At OilPrice News: There Is No Short Term Fix For Oil Price Volatility.
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Goldman Sachs predicts what will happen to Europe’s economy if Putin shuts off the gas taps. (Thanks to H.L. for the link.)
Inflation Watch:
The official inflation rate was pegged at 7.9% last week, by the BLS. That is the highest inflation rate in the United States in more than 40 years. Unofficial estimates (that include more food and fuel costs) range from 12% to 16%. Even former Fed Chairwoman Janet Yellen is predicting ‘very uncomfortably high’ inflation. JWR’s Comments: Be prepared for a lot more inflation, for at least the next three years. Hedge into tangibles!
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Motley Fool: Why Inflation Can Still Get Higher.
Forex & Cryptos:
Fox News: Russia suspends foreign currency sales as ruble crashes amid economic fallout over Ukraine invasion.
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Russian rouble drops to record lows amid fresh sanctions.
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US and EU double down on measures against Russia potentially using crypto to evade sanctions.
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Bitcoin Outflows Spike As 30k BTC Exits Exchanges, Reserve Plunges Down.
Tangibles Investing:
Emergent trends from the biggest motorcycle auction of 2022.
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Amelia Island 2022: Classic Car Auction Results.
Provisos:
SurvivalBlog and its Editors are not paid investment counselors or advisers. Please see our Provisos page for our detailed disclaimers.
News Tips:
Please send your economics and investing news tips to JWR. (Either via e-mail or via our Contact form.) 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!