Blindspot #031 - Kicking & Screaming: Is Ukraine dragging the world into a collective suicide pact?

Published March 15, 2022 79 Views

Blindspot #031 - Kicking & Screaming: Is Ukraine dragging the world into a collective suicide pact?

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The impact of the Russian military neutralisation, and de-nazification operation in Ukraine, has by now, a mere three weeks later, reverberated to just about every corner of the globe. This impact comes not only in the form of ‘news’ from the frontlines. Commodities markets, oil, gas, nickel, gold, coal, corn, wheat, fertilisers - too many to mention, have spiked as markets panicked. In South Africa fuel prices are bound to sky-rocket, and consumers are warned that in about three months the price of bread might do the same.

Look at some commodities headlines from the past three weeks:

LME nickel stages a historic spike, trading above $100,000 a ton before paring gains and being subsequently halted on LME;
From MiningWeekly: Palladium prices surged as the Russia-Ukraine crisis fuelled supply worries;
The conflict is powering safe-haven gold back through the key $2 000 level;
Spot palladium jumped 5.9% to $3 173.02 per ounce, resuming its rally after slipping from an all-time high of $3 440.76.

This is not even scratching the surface.

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