I'm trying to care about the nickel market story but just can't...
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nickel itself isn't the interesting part--the interesting part is the market structure that lead to the issue
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☝️for the win. But more “holy shit” than just interesting. And it seems protectionist rather than arbitrary.
Imo, most interesting is people like Cliff Asness viewing this as a regime shift in how even seasoned pros view tradfi exchanges and markets. The pro version of how Robinhood/Citadel radically strengthened rigged markets meme among retail.
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post modern money theory society seems like Volcker time and looking for a new Reaganomics
And the fact they just cancelled everything like ‘do over’ on a playground …heads they win tails u lose






