A Microblog in Plain HTML

#finance #politics

Throughout today, the price for Nvidia stock fell by 5-7%. Reddit appears to blame it on Donald Trump's comments on Taiwan. The same subreddit mentioned Nancy Pelosi buying 10,000 shares of Nvidia at the end of June.

https://redlib.perennialte.ch/r/NVDA_Stock/comments/1e5dnp6/it_looks_like_we_are_going_down/

https://archive.is/https://www.techspot.com/news/103856-donald-trump-taiwan-pay-us-defense-took-america.html

https://redlib.perennialte.ch/r/NVDA_Stock/comments/1due35b/nancy_pelosi_bought_10000_shares/

I got the idea that establishment politicians don't like Trump because he causes stock market crashes. This means just from today the value of Pelosi's holdings declined by $80,000. On the other hand, other places say the drop is because of Biden restricting trade with China.

#surf #finance zines about gamestop?

I came across a link to "The SuperStonk Library of DD, Art Books, and Periodicals", and the deal with "meme stocks" is much higher effort than I expected (typeset PDFs with cover art) and definitely higher effort than 2 minute long articles from corpo-media.

https://fliphtml5.com/bookcase/kosyg

The $GME sub uses acronyms often ("DFV", "RC", "MOASS"); many of which, I had to guess what they meant. I've found "The Diamond Handbook" explains most of them.

Note, investment-related Reddit subs especially with a defined antagonist (Citron, "the hedgies") are intentionally vague about their exit plan. Thus many posts express "I'm never selling" or strong confidence about major changes in the future.

#surf #finance

Sometime around May, GameStop ($GME) shares rose from $10 to around $60, I assume because of another short squeeze. After the first short squeeze that bankrupted Melvin Capital, hedge funds apparently started naked short-selling GameStop again.

I've been reading the "$GME investors" sub at

https://redlib.perennialte.ch/r/GME/new

and finally came aross a 10 minute video explaining why they invest in GME for reasons beyond memes.

https://nitter.poast.org/Cancelcloco/status/1790524969623175629#m

(GameStop is the only retailer that consistently stocks Steam Wallet cards/codes. So it'd be great if they don't get shorted to death.)

#surf money #politics #finance

I read

https://tomluongo.me/2022/03/13/ins-outs-whose-money-is-it-anyway/

The article has an interesting interpretation of the commodities market (as the price of nickel made exponential gains lately).

What I understand of the situation: a Chinese client had a short position on nickel on the London Metals Exchange (LME). When the price of nickel went up, instead of letting the client lose money, trading was suspended.

Reuters - LME suspends nickel trading after prices soar past $100,000

https://archive.ph/q9odp

TL;DR the author speculates that these moves are to impact the credibility of LME. So commodity exchanges move from London and Chicago to Moscow or China. In that case, the sanctions against Russia won't matter as much? It seems the main goal is so the world transitions from using US dollars ($) to gold as a mediator of oil trade.

Extras I interpreted:

• de-dollarization means less value for the $.
• less value for the dollar means gas prices go up.
• people complaining about $5 gas and inflation have more to complain about.