What I have noticed lately is a change in the way the market is manipulated. Up until about six weeks ago, central banks were making use of privateer firms to assist them in elevating asset prices. The privateer firms are gone now.

Central banks are participating directly now.  Clearly academics are in charge. At least the privateer firms managed to leave an ebb and flow feel to the market. Now that central banks are buying directly the moves are abrupt and sharp. Academics don’t trade so few would expect anyone to notice something like this.

If the privateers are leaving it is because they are unable to make a profit even with the Fed’s help.  We could be very close to a catastrophic event.

Just Another Day at the Whorehouse is a Curbside Jimmy tune that is just right for present times.

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