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The World for Sale, with Javier Blas and Jack Farchy
Intelligence Squared
How Does This Compare to the 19 Seventies?
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The nickel market on the london metal exchange literally broke. The price melted up 250 % in a day, and trading had to be suspended. I think it's hard to overstate how important russia is to global commodity supplies. If we lose russia from th glob commodity markets, or even just te european and american commodity markets, that's not just an oil shock. That hasn't happened yet, but if that does happen, it's going to be an enormous shock to the global economy.
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