the nickle in a nickle is at the moment worth 12.5 cents:
London Metal Exchange rushes to contain fallout of nickel trading crisis
Mar. 10, 2022 6:21 AM ETNickel Futures (LN1:COM)By: Yoel Minkoff, SA News Editor15 Comments
Nickel is a chemical element, pure industrial use or in metal alloys, corrosion resistant, stainless steel
RHJ/iStock via Getty Images
Things are getting crazy in commodity markets as prices go into a frenzied overdrive. The London Metal Exchange (LME) was forced to suspend all trading in its nickel contracts (LN1:COM) on Tuesday, saying it wouldn't reopen things until March 11 at the earliest as it balances its books and returns stability to the market. The cost of LME three-month nickel, the key pricing benchmark for the global physical supply chain, shot up to $101,365 a ton on Tuesday, up from $30,000 just sessions earlier.
The big short: It's an unfolding story that reportedly involves China's Tsingshan Holding Group, the world's biggest producer of nickel used in stainless steel and EV batteries. The firm apparently made a sour nickel bet by building up a massive short position, but now faces $8B in paper losses due to an influx of margin calls (it has since secured loans from JPMorgan and China Construction Bank). Nickel was already on a rip due to the commodity rally turbocharged by the conflict in Ukraine when the historic short squeeze pushed things over the edge.
"This has never happened before in the history of the nickel market," Guy Wolf, the global head of market analytics at Marex. "'Unprecedented' is an overused word, but this actually is." The closest thing that may come to it is the "Tin Crisis" of 1985, which pushed many brokers out of the industry and saw the LME suspend trading in the metal for four years. Morgan Stanley is even saying the effects of nickel's jump on EV prices and sales could be significant over the next couple of years.
Fun fact: The remarkable rally in nickel prices has pushed the price of an actual nickel, a $0.05 piece, way above its worth. While only 25% of a nickel is made from the actual metal, at Tuesday's prices, it would be worth $0.125 (that's without the rest of the valuable copper that makes up the coin). While the strange price point has occurred many times throughout history, don't get too exciting about starting a melting operation. It's illegal to extract the raw materials in pennies and nickels with the intent of selling them for profit.
@deadman Serious question..Why? If it was discredited is it like collecting mis printed currency or do you think there is truth there that people are trying to cover up? I'm honestly curious because I have no knowledge to back up a personal opinion.
@Jrflickster said: @deadman Serious question..Why? If it was discredited is it like collecting mis printed currency or do you think there is truth there that people are trying to cover up? I'm honestly curious because I have no knowledge to back up a personal opinion.
Guess it depends on what you believe. The book is being banned because some don’t agree with their conclusions. It was over 75 years ago. Didn’t really get it for the collector’s value but to read it and make my own conclusions without someone else telling me it’s not allowed
It's still available at Amazon. I love banned stuff, hell, I'm banned on Facebook and Twitter, pretty much everywhere but here. I'm still working on that.
@dirtdude said:
It's still available at Amazon. I love banned stuff, hell, I'm banned on Facebook and Twitter, pretty much everywhere but here. I'm still working on that.
US Publisher HarperCollins backpedaled today, decided to leave it alone. I bet sales went up and they saw dollar signs.
G3 (Strong) geomagnetic storms are expected on 31 Mar with
the arrival of back-to-back CMEs that erupted from the Sun on 28 Mar.
G1-G2 (Minor-Moderate) storms are expected to persist into 01 Apr. https://www.swpc.noaa.gov/communities/space-weather-enthusiasts
100% Rich and White Museum Staff Announce They Have Successfully Combated Racism
“We did it, we really did it,” said Chad Whitley-McGovern, chair of the museum’s board.
by Sarah Rose Sharp
6 hours ago
Print
A museum entirely staffed with white people announced eradicating racism among its ranks
Citing the purchase of a single Kehinde Wiley painting, the entirely White staff of a local museum congratulated themselves on solving racism this week.
“We did it, we really did it,” said Chad Whitley-McGovern, the rich, White chair of the museum’s board, which is 100% comprised of other rich White people. Whitley-McGovern emphasized that the process was especially difficult since there were no actual people of color on the staff or advisory board, but “we were able to imagine what it would be like.”
A proposal to diversify staff by placing qualified people of color in key curatorial and high administrative positions would have made waves, but no one proposed that, so everything was fine.
“We think this one Kehinde Wiley painting is going to do the trick,” said Chief Curator Victoria Bentley-Monopoly. “If it seems like racism is on the verge of coming back, we can look into acquiring a piece by Kara Walker.”
“But nothing too controversial,” the curator hastily added.
The museum also has plans to create a more inclusive workplace culture, with upcoming lunch-and-learns including “What to Do If You See a Black Person (Don’t Panic!!),” “Recontextualizing the Collection to Avoid Overt Colonial Overtones,” and “Performative Allyship.”
Whitley-McGovern said these changes have been a long time coming, and demonstrate the important ways that White people can address racism without giving power to or needing any direct input from people who experience it.
“It was uncomfortable at times, but we had some tough conversations about what greater diversity would look like for our institution,” he said. “We all agreed it would look fine and we will definitely keep an eye out for it in case it comes up.”
There are no current plans to display the Wiley painting, as the museum feels that “owning it is the main thing.
100% Rich and White Museum Staff Announce They Have Successfully Combated Racism
“We did it, we really did it,” said Chad Whitley-McGovern, chair of the museum’s board.
by Sarah Rose Sharp
6 hours ago
Print
A museum entirely staffed with white people announced eradicating racism among its ranks
Citing the purchase of a single Kehinde Wiley painting, the entirely White staff of a local museum congratulated themselves on solving racism this week.
“We did it, we really did it,” said Chad Whitley-McGovern, the rich, White chair of the museum’s board, which is 100% comprised of other rich White people. Whitley-McGovern emphasized that the process was especially difficult since there were no actual people of color on the staff or advisory board, but “we were able to imagine what it would be like.”
A proposal to diversify staff by placing qualified people of color in key curatorial and high administrative positions would have made waves, but no one proposed that, so everything was fine.
“We think this one Kehinde Wiley painting is going to do the trick,” said Chief Curator Victoria Bentley-Monopoly. “If it seems like racism is on the verge of coming back, we can look into acquiring a piece by Kara Walker.”
“But nothing too controversial,” the curator hastily added.
The museum also has plans to create a more inclusive workplace culture, with upcoming lunch-and-learns including “What to Do If You See a Black Person (Don’t Panic!!),” “Recontextualizing the Collection to Avoid Overt Colonial Overtones,” and “Performative Allyship.”
Whitley-McGovern said these changes have been a long time coming, and demonstrate the important ways that White people can address racism without giving power to or needing any direct input from people who experience it.
“It was uncomfortable at times, but we had some tough conversations about what greater diversity would look like for our institution,” he said. “We all agreed it would look fine and we will definitely keep an eye out for it in case it comes up.”
There are no current plans to display the Wiley painting, as the museum feels that “owning it is the main thing.
Comments
Finished The dark and bloody river. Working on
The wettest county in America
Ricky…that one isn’t about kinky sex😂
the nickle in a nickle is at the moment worth 12.5 cents:
London Metal Exchange rushes to contain fallout of nickel trading crisis
Mar. 10, 2022 6:21 AM ETNickel Futures (LN1:COM)By: Yoel Minkoff, SA News Editor15 Comments
Nickel is a chemical element, pure industrial use or in metal alloys, corrosion resistant, stainless steel
RHJ/iStock via Getty Images
Things are getting crazy in commodity markets as prices go into a frenzied overdrive. The London Metal Exchange (LME) was forced to suspend all trading in its nickel contracts (LN1:COM) on Tuesday, saying it wouldn't reopen things until March 11 at the earliest as it balances its books and returns stability to the market. The cost of LME three-month nickel, the key pricing benchmark for the global physical supply chain, shot up to $101,365 a ton on Tuesday, up from $30,000 just sessions earlier.
The big short: It's an unfolding story that reportedly involves China's Tsingshan Holding Group, the world's biggest producer of nickel used in stainless steel and EV batteries. The firm apparently made a sour nickel bet by building up a massive short position, but now faces $8B in paper losses due to an influx of margin calls (it has since secured loans from JPMorgan and China Construction Bank). Nickel was already on a rip due to the commodity rally turbocharged by the conflict in Ukraine when the historic short squeeze pushed things over the edge.
"This has never happened before in the history of the nickel market," Guy Wolf, the global head of market analytics at Marex. "'Unprecedented' is an overused word, but this actually is." The closest thing that may come to it is the "Tin Crisis" of 1985, which pushed many brokers out of the industry and saw the LME suspend trading in the metal for four years. Morgan Stanley is even saying the effects of nickel's jump on EV prices and sales could be significant over the next couple of years.
Fun fact: The remarkable rally in nickel prices has pushed the price of an actual nickel, a $0.05 piece, way above its worth. While only 25% of a nickel is made from the actual metal, at Tuesday's prices, it would be worth $0.125 (that's without the rest of the valuable copper that makes up the coin). While the strange price point has occurred many times throughout history, don't get too exciting about starting a melting operation. It's illegal to extract the raw materials in pennies and nickels with the intent of selling them for profit.
"At Risk" and "The Front" by Patricia Cornwell.
New report on premium cigars by the National Academy of Sciences commissioned by the FDA.
https://www.nap.edu/read/26421/chapter/1#xv
A couple conclusions that seem like they could be wins:
"Sand" by Hugh Howey
What a tragedy...
https://www.fox35orlando.com/news/orlando-drop-tower-ride-death?utm_source=ground.news&utm_medium=referral
"Iron sharpens iron, and one man sharpens another." - Proverbs 27:17
Oh geez, I hate to hear that.
A Confederacy Of Dunces by John Kennedy Toole. A entertaining Pulitzer winner.
Picked up a copy before they all got pulled from the shelves
@deadman Serious question..Why? If it was discredited is it like collecting mis printed currency or do you think there is truth there that people are trying to cover up? I'm honestly curious because I have no knowledge to back up a personal opinion.
Guess it depends on what you believe. The book is being banned because some don’t agree with their conclusions. It was over 75 years ago. Didn’t really get it for the collector’s value but to read it and make my own conclusions without someone else telling me it’s not allowed
It's still available at Amazon. I love banned stuff, hell, I'm banned on Facebook and Twitter, pretty much everywhere but here. I'm still working on that.
US Publisher HarperCollins backpedaled today, decided to leave it alone. I bet sales went up and they saw dollar signs.
Or they started the rumor to boost sales.
Trapped in the People's Communist Republic of Massachusetts.
Bird pecking order
https://www.washingtonpost.com/business/2021/11/28/bird-feeder-pecking-order/
Interesting read, Edward. Thanks for sharing.
Tiny particles of plastic have been detected in human blood for the very first time. They can’t be filtered out
https://fortune.com/2022/03/24/tiny-microplastics-particles-human-blood/
No indication that it is harmful.🤔
I wonder how often kidney stones are tested for composition.
That must explain my fat gut. I knew it wasn't my fault.
Trapped in the People's Communist Republic of Massachusetts.
been seeing a great deal of this:
pseudoskepticism
https://en.wikipedia.org/wiki/Pseudoskepticism
and
argument from ignorance
https://en.wikipedia.org/wiki/Argument_from_ignorance
https://www.thelocal.se/20220114/fucke-no-more-swedish-settlement-applies-for-name-change/
Fucke no more – Swedish settlement applies for name change
"Gambling Man" by David Baldacci. Great book. I hope it's the start of a new series.
Texas, crazy ants, new microsporidian species (Myrmecomorba nylanderiae)
https://www.wired.com/story/a-killer-parasite-is-wiping-out-hordes-of-ants-in-a-good-way/
G3 (Strong) geomagnetic storms are expected on 31 Mar with
the arrival of back-to-back CMEs that erupted from the Sun on 28 Mar.
G1-G2 (Minor-Moderate) storms are expected to persist into 01 Apr.
https://www.swpc.noaa.gov/communities/space-weather-enthusiasts
Trapped in the People's Communist Republic of Massachusetts.
100% Rich and White Museum Staff Announce They Have Successfully Combated Racism
“We did it, we really did it,” said Chad Whitley-McGovern, chair of the museum’s board.
by Sarah Rose Sharp
6 hours ago
Print
A museum entirely staffed with white people announced eradicating racism among its ranks
Citing the purchase of a single Kehinde Wiley painting, the entirely White staff of a local museum congratulated themselves on solving racism this week.
“We did it, we really did it,” said Chad Whitley-McGovern, the rich, White chair of the museum’s board, which is 100% comprised of other rich White people. Whitley-McGovern emphasized that the process was especially difficult since there were no actual people of color on the staff or advisory board, but “we were able to imagine what it would be like.”
A proposal to diversify staff by placing qualified people of color in key curatorial and high administrative positions would have made waves, but no one proposed that, so everything was fine.
“We think this one Kehinde Wiley painting is going to do the trick,” said Chief Curator Victoria Bentley-Monopoly. “If it seems like racism is on the verge of coming back, we can look into acquiring a piece by Kara Walker.”
“But nothing too controversial,” the curator hastily added.
The museum also has plans to create a more inclusive workplace culture, with upcoming lunch-and-learns including “What to Do If You See a Black Person (Don’t Panic!!),” “Recontextualizing the Collection to Avoid Overt Colonial Overtones,” and “Performative Allyship.”
Whitley-McGovern said these changes have been a long time coming, and demonstrate the important ways that White people can address racism without giving power to or needing any direct input from people who experience it.
“It was uncomfortable at times, but we had some tough conversations about what greater diversity would look like for our institution,” he said. “We all agreed it would look fine and we will definitely keep an eye out for it in case it comes up.”
There are no current plans to display the Wiley painting, as the museum feels that “owning it is the main thing.
😕 I don’t even know what to say here.