Nickels contain 25% nickel, and the remainder is copper. This puts nickels in the awkward situation of being worth more than what you can actually buy with them. This creates the incentive to hoard the coins until the money is worthless, then use the metal to sell. Keep in mind, doing this to official US currency is illegal.

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Nickel is essential in making stainless steel and electric vehicle batteries. But this week, the price of nickel made historic moves, doubling by $50k in one day before trading was shut down. As with everything these days, the move seems to be caused by the sanctions on Russia, but exacerbated by a large short squeeze.

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Gold is playing with all time highs on the attempts by players around the world to lock out the ability of Russia to be able to rely on their gold reserves. Because of the sanctions on cash and foreign exchange reserves, many expected Russia to use their gold. But the LBMA and US congress are making moves to make it harder and costlier for Russia to sell its gold. This is reducing supply and pushing the price of gold higher and higher.

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The IMF working paper on the 'Liquidation of Government Debt' was first introduced in 2011, and then updated in 2015. This details how governments can use financial repression tools to ease their own debt burdens by transferring it to their citizens. Tools such as zero interest rates, price controls and capital controls. All in an effort to transfer the wealth of individuals to the state.

IMF Paper: https://www.imf.org/external/pubs/ft/wp/2015/wp1507.pdf

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The dollar has strengthened recently, and its dominance as the global reserve currency has been called into question. Mostly due to the recent sanctions on Russia, the incentives are now in place for global actors to diversify away from their reliance on the dollar. Even Jerome Powell admitted the status of the global reserve currency could change soon in his recent testimony to congress.

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Federal Reserve chairman Jerome Powell testified before Congress on Wednesday about the near future path of monetary policy at the US central bank. He reiterated the plan has not changed. This plan includes the completion of net asset purchases to the fed's balance sheet, then beginning raising rates, and reducing the size of their balance sheet after that. But they are watching the Russia/Ukraine situation and that may cause them to change course.

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The headlines these days are so preposterous, it is almost impossible to tell what is satire and what is not. In the latest example, Europe is discussing whether or not weapons should be listed as ESG assets, which would give them more favorable access to financing. This proves the agenda is not one of caring for the world, but one of power and money.

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It is possible we are witnessing the beginning of the end of the reign of the US dollar as the global reserve currency. The incentives are now heavily in favor of building and using alternative payment systems. The direction is headed towards using currencies and money that neither party in a transaction controls, and possibly towards a currency that no country can control. When the history books talk of the death of the dollar, it is likely this time period is marked as the turning point.

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Zoltan Poszar released a report detailing the risks in the global financial system as a result of the sanctions laid against Russian banks and their central bank. Essentially, he likened it to another Lehman event, as a major financial player is unable to make dollar or accept dollar payments. This could cause major problems that the central banks including the Federal Reserve will have to mitigate by providing ample liquidity to at risk counterparties.

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The data about ships at port may be technically true, but it does not truthfully convey the situation. Instead, it papers over the reality that the supply chain issues are still getting even worse, with no end in sight.

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Flexport Data https://www.flexport.com/research/ocean-timeliness-indicator/