Miscellaneous News

siegecrossbow said:

https://twitter.com/i/web/status/1507254110592008196

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Double posted but still funny as hell.

Overbom said:

The real 5D chess moves are always made by Xi.

"JPM: "While the world is short on commodities, China is not, given they have started stockpiling commodities since 2019 and currently hold 80% of global copper inventories, 70% of corn, 51% of wheat, 46% of soybeans, 70% of crude oil, and over 20% of global aluminum inventories."

https://twitter.com/i/web/status/1507386684463357958

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Has anyone been following the Nickel price fiasco?
I'm still a bit confused at what's happening
He made the wrong bet, shorting himself, but the price went up like crazy, and he's the number 1 producer...
lol

supersnoop said:

Has anyone been following the Nickel price fiasco?

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I'm still a bit confused at what's happening
He made the wrong bet, shorting himself, but the price went up like crazy, and he's the number 1 producer...
lol

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I'll try to explain with my cursory understanding of finance. So the guy tried shorting the nickel stock, which is like a bet that the price will go down. However, the nickel price suddenly shot up, making him lost that bet and now he has to buy the stock at the price to give back the stocks he used to short.

He doesn't have enough money to cover those short, and the bank that is backing up his margin call is apparently a big one, JPM. Now JPM has the job to bail the guy out of that position, but since both parties can't pay, so through some insider influence, they asked them to shutdown the London stock exchange for Nickel and reverse their trading position.

The thing is though, reversing that amount of volume just for that guy, broke the trust in the system. So now we're seeing an exodus of traders from LME to other metal exchange market and the price of the nickel stock gone tumbling down.

Someone please help me check if I what I said is accurate.

Coalescence said:

I wonder if this the result of foresight on the effects of the pandemic, preparation for Russia's war on Ukraine, or they have always stockpiled before 2019? Maybe all.

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thanks to trump's trade deal, China was forced to buy big on US agricultural products, way more than what it really needs.
All people should now go to costco and walmart and stock up before the super inflation.

Tyler said:

thanks to trump's trade deal, China was forced to buy big on US agricultural products, way more than what it really needs.

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But didn't China failed to reach the target goal of Phase I deal? Like they didn't even bought enough to reach the extra amount agreed upon.

Reposted from r/Sino

Overbom said:

Based af. Making progress against these western worshippers. As usual, the younger generation leads the way

https://twitter.com/i/web/status/1507227775836454913

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You are quoting just such a western worshiper yourself!

Coalescence said:

But didn't China failed to reach the target goal of Phase I deal? Like they didn't even bought enough to reach the extra amount agreed upon.

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It is hard to say if China had bought enough, since the US would always blame China for everything. But more recently they have stopped repeating that China did not buy enough.

How are you suppose to buy enough for the phase 1 trade deal when Trump/Biden keeps expanding the export ban list lol. China aren’t buying soybeans at a 5000% premium. Then you got the logistics and supply chain issues.