Penny For PRC’s Thoughts As Nickel Crisis Rocks London

WSJ’s “Nickel Market Crisis Sends London Metal Exchange Scrambling to Prevent Damage” reminds of earlier warnings that China controls a dangerous percentage of that metal & other rare minerals needed in electronics & electric car batteries, thereby exposing the West to economic extortion by communist China.

The immediate down and dirty is that a key “Chinese nickel giant at center of action, Tsingshan, received financial lifeline from banks to help meet margin calls related to $8 billion in paper losses.” Said the WSJ: “The metals industry, financial regulators and Chinese officials rushed to resolve a crisis in London’s nickel market, which remained on ice after an ill-fated trade sparked mammoth price gains and billions of dollars of losses.”

In other words, it doesn’t take very much for our PRC “friends” to create economic havoc on a major exchange like this. Aren’t the national security implications of China’s rare mineral dominance further roiled when coupled with “allied” Russia’s similar grip on the nickel industry as well as its influence over the world’s oil & natural gas supply? Jus’ askin’.

Davd Soul