Saw a ton of posts about Weimar, inflation being really 15% etc recently. Sentiment for gold is similar to 2011. Of course the situation has changed quite bit fundamentally and the neutral price is way higher now but feels like we entered mania stage some time ago.

Lol Russia has been a small net seller for a couple of years straight. The largest official buyer this year is Poland. China is third. Narrative is more important than data.

Modigliani and Miller would like to have a word ;). Equity funding is cleaner of course, but returns will suck anyway if capital is misallocated. And the thing about equity returns that they have been front loaded already. So for the "market" the final outcome will be roughly the

So much of what looks like free lunch in DeFi is simply stripped down TradFi risks that you now self insure. If you want to go the inexpensive route, you trade it straight DeFi and accept the 24/7 margining If you want ”margining insurance” you use futures on exchange.

I once visited a Euromoney training in Cambridge. We had a lecturer who was previously head of derivatives at Chemical Bank prior to it aquiring JPM and keeping their name. He shared some war stories but one thing I remember vividly was about GBP peg blowup in french banks and he

This is a lesser known aspect of Soros and Druck breaking bank of England. They made like 1 billion or something. And French banks collectively took more than a billion USD write down because they sold some optically expensive insurance to a bunch of corporates and hedgies and

I wonder if a lot of that is just the fact that society is getting much older.

10 thousand followers almost and a complete wanker with zero understanding of trading.

OPERATION EPSTEIN FURRY

Imagine being this clueless about facts on the ground and pretending to be some some sort of expert on geopol.

Air defense in UAE has been really good so far. UAE also has about 200 military aircraft and helicopters which probably part take in interceptions. Of course 100% rate is impossible but it has been impressive.

Indian port price really means little though - it's a price which is set by indian traders who try to keep their profits offshore and show high price to indian customs. It was not far from brent anyways. But it shows that discount has narrowed.

Mosaic's paradox: why a fertilizer crisis Is crushing a fertilizer stock. $MOS Mosaic, one of the world's largest fertilizer producers, is down 20% in a week. The stock is trading near 6-year lows. The key nuance: The Strait of Hormuz blockade lifts fertilizer prices, but it

We had a shovel like this in the 90ies. Great shovel! This was not a corruption scheme just Russian mil industry trying to come up with some civilian products while the funding dried up. Notice production date on the photo is 1989.