Don’t spend you nickels! They’re now worth 17 cents each. That’s right. Runaway inflation has big and growing consequences for just about everything of value. After a recent attempt by some investors to corner a segment of the metals commodities market, during the Russian war on Ukraine, the price of the metal nickel shot up so much that a coin that was once 5 cents is now worth more than triple that amount — just from the exploding value of the metal contents. Thus, banks are now losing money by supplying nickels. They’re losing 12 cents on every nickel coin that they dispense.
This teaches us a lesson about inflation and war. Russia controls about 20% of world nickel production, and it’s now threatened, along with oil and many other commodities. Home building materials are also under pressure, as is just about everything else.
Billionaire Elon Musk has joined Warren Buffet in trying to guide the masses in the right direction so that we can continue to buy Teslas. Musk recently posted tips on hedging against inflation, tweeting it’s “generally better to own physical things like a home or stock in companies you think make good products,” rather than keeping much money in cash.
Inflation is hitting women, children and minorities the hardest, and there’s no relief in sight. Virus hysteria, government over-spending and war make inflation worse. Biden plans to respond by continuing to blame covid and Putin for inflation. Because the current government has no serious plans to reduce inflation, and the Federal Reserve will likely fail to taper its ponzi scheme monetary policy, it is up to each American citizen to protect our private assets against inflation and increasing government confiscation, and to take advantage of rapidly rising prices for just about everything from food to real estate. The good news for Loft Blog readers is that condos have long been excellent hedges against inflation, and owning a loft is much easier than trying to store a half million dollars worth of nickels.
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