We will have much more to say about the impact of central planning on price (lack of) discovery and general market manipulation shortly, courtesy of the just released latest must read report by our friends over at Artemis Capital Management, we wanted to show our readers Exhibit A of what everyone has intuitively known for years, yet been unable to put it to paper. Until today. Below is Exhibit A that courtesy of global, relentless central-planning, the market is now nothing more than a liquidity-addicted abortion, whose future discounting capabilities have been utterly destroyed, which no longer reflects any economic fundamentals, and which is merely a fake construct in the Eye of the Benholder. It also throws temper tantrums in the form of VIX surges any time the promise of liquid heroin is taken away.
Exhibit A
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Source: Artemis Capital Management