INO.com News - Bernanke: Inflation Low, Economy Still Needs Support From Fed That screaming whistle you hear is the FRN dropping like a stone. @ 10:58 EST it was -$0.345 (44%) lower than opening and it opened at -$0.02 from yesterday's open. Coupled with China's interest rate adjustments and unrest and uncertainty in the Middle East...the pot is coming to a boil.
It was -$0.345, I am quite positive. It has bounced back up a little...currently trading at -$0.14 (-0.18%).
If you don't believe the FRN values are dropping, just take a look at how the food prices are climbing.
I recently was disgusted to find that my favorite material: 6061 T-6 aluminum rod ( 3/4 inch) went from $27.40 to over $75.00 here for a 12 foot piece! Since when did aluminum become a "precious metal"? I saw wheat products went up 127%, and a lot more increases in almost everything!
What is the weight of the piece and i can tell you how much it should be for the aluminum? China is having a severe drought and may need to Import wheat this rear. If the drought doesn't let up it may endanger other crops there later in the year.
The weight the 6061 T-6 aluminum round stock, 0.75"x144" is 7 pounds. I can get this stuff for about 33 FRNs for a stick. Dragonfly, you are getting taken to the cleaners.
