GREAT RESET NEWS: nutty narratives on the bourses, down among the wind propellers & in the hospitals

The Slog

Property wobbles in China have meant an increase in borrowing rates generally…and most central banks now regard further rises as inevitable, following the “transitory” hoho rises in price inflation. All of this, of course, increases the likelihood of a complete collapse at the property lender Evergrande, and other dodgy behemoths in the PRC.

Pretty much the entire junk bond sector is turning from boom to bust…..and thus one would expect the ‘flight to quality’ thing. In the good old days when there were fundamentals on the bourses, we’d have seen gold and silver shooting skywards. This is the 7 days chart for gold:

As you can see – hold it up to the light, not a fundamental in sight. Gold has fallen by 25 bucks. Now look at today’s trading so far (below left)…..

…..and we see right at the opening bell, four dollars knocked off the price…

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