Money From Rock Better Than Money From Air

Strange things are happening in the finance markets, very strange. As the FT and Dow Jones main indexes go up and down faster than a whores knickers, commodity prices are behaving weirdly too.

from Zero Hedge:

The last few days have seen Western anti-Russian rhetoric and red lines escalate dramatically as the military and economic issues come to light in any push back against Putin’s pressure. From NatGas export fallacies to “boomerang”-ing sanctions, the west seems stuck (for now).. which brings up the question – why is China and Russia making huge investments in commodity-miners? Russia’s largest gold miner Polyus Gold is considering a complete onshoring of its activities and China is buying a huge Peruvian copper mine from Glencore. The outcome would appear to enable both firms to do away with USD but not having to buy this resource in the market… just mine it? Continue reading

Well commodity backed currency is more stable than money from the air currrency we have had since the end of World War Two or the extreme version of fiat money, which involves city traders exposing themselves (Naked Finance). But who sets the exchange rates? And how many chickens are there to a goat.

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Russia, Ukraine and the Petrodollar

Does Stock Markets Crash Herald The Apocalypse?

Following terrible economic news announced too late last Friday to affect trading, the world’s stock markets all crashed on opening this morning.

Scaremongers and the kind of people who like to run around like headless chickens shouting “Don’t panic” every time someone yells “the sky is falling down” predicted this is the beginning of the end or perhaps the beginning of the end of the beginning or even the begining of the end of the end that comes after the end of the beginning or … oh well, you get the idea.

The collapse of the stock and commodity markets, they say, will cause the banks to run out of cash, fuel pumps to dry up, water supplies to fail, stock to disappear off supermarket shelves, power to go off and all football to be cancelled for ever.

It will be catastrophic in other words.

Every cloud has a silver lining however. Al least all those sad bastards who thought the millennium bug would usher in the apocalypse will have chance to use the baked beans, pasta and tomatoes, tinned rice pudding, torch batteries and bottled water they stockpiled back in 1999.

Got any spare change?

We have all heard those words from various unsavoury characters with leprous dogs many times.
But we should no longer dismiss the “spare change” brigade as a bunch of idle, workshy, soapshy scumbags who are just trying to scrounge a free ride through life because the chances are they will be international commodities traders trying to make a killing in copper.
Yes, “spare change” is now worth more for scap than it is in the shops.
Which is perthaps something we should all remember next time the government are trumpeting their “brilliant” management of the economy.