Metals
Like Yap money stones, the warehouse nickel is still useful for financial trading even if it is not actually there, or not actually nickel. But to make the financial contracts work, there has to be some connection between the warehouse nickel and regular nickel. There is a thin connection between the abstract financial nickel in the warehouses and the industrial nickel in the real world, but there is a connection. Or if you are a hedge fund or bank with a view on commodity prices, you might want to trade nickel futures to express that view.
JPMorgan, which does not make batteries or cars, bought bags of abstract nickel years ago. The purpose of JPMorgan s nickel was not to be turned into batteries or cars, but to sit in a warehouse. Those purposes were to write financial contracts referencing that nickel. These futures do not, in the first instance, involve any nickel. Nickel and people do have to go in and out of the warehouses. JPMorgan then used that nickel for its intended purposes for years.
JPMorgan, which does not make batteries or cars, bought bags of abstract nickel years ago. The purpose of JPMorgan s nickel was not to be turned into batteries or cars, but to sit in a warehouse. Those purposes were to write financial contracts referencing that nickel. These futures do not, in the first instance, involve any nickel. Nickel and people do have to go in and out of the warehouses. JPMorgan then used that nickel for its intended purposes for years.
United States
Today s Agenda The Fed can fight inflation and fix the bank crisis. (This is in part because the chairmen of Credit Suisse and UBS are experienced bankers who know how this is supposed to go, though also for other reasons.) One difference is that the Swiss regulators did not bring the chairmen of Credit Suisse and UBS to a hotel and torture them until they agreed to the deal. Puerto Rico Tries to Woo Big Business Amid Widespread Challenges Facing population loss and economic pain, the US territory is reviving its campaign to lure industry.
Further Reading Donald Trump s likely indictment over a sex scandal gives Ron DeSantis an opening. Even before recent events, investors expected demand in both Europe and the US to moderate.
Further Reading Donald Trump s likely indictment over a sex scandal gives Ron DeSantis an opening. Even before recent events, investors expected demand in both Europe and the US to moderate.
China
David FicklingWhat Ukraine s Zelenskiy should say if Xi Jinping offers to broker peace with Russia.
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