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Hedge Fund CIO: “Our Growing Acceptance Of Ever Wilder Conspiracy Theories Has Numbed Us To Everything”

Courtesy of ZeroHedge View original post here.

By Eric Peters, CIO of One River Asset Managemetn

“In 18 incidents, described in 21 reports, observers reported unusual Unidentified Aerial Phenomena (UAP) movement patterns or flight characteristics. Some UAP appeared to remain stationary in winds aloft, move against the wind, maneuver abruptly, or move at considerable speed, without discernible means of propulsion. In a small number of cases, military aircraft systems processed radio frequency energy associated with UAP sightings.”

Throughout human history, those comfortable in the consensus have shown utter contempt for the lonely voices who threaten to upend the prevailing worldview. And yet, without those courageous enough to speak their truth, we would live in a perpetual Dark Ages. Such is the depth of our fear of change that we persecute the brave few, even as they drag us into a better future, kicking, screaming.

It is too early to know whether these UAP represent anomalies of earthly origin, or an extraterrestrial intelligence. But for some mysterious reason, we appear finally prepared to consider the latter.

How we react to news is often more interesting than the events themselves. Contact with an extraterrestrial intelligence would simultaneously represent the greatest risk and opportunity in human history – far surpassing the arrival of Columbus in the Americas.

So why are we seemingly unperturbed by today’s possibility? Perhaps collapsing faith in institutions leaves us distrustful of anything we are now told. Maybe, our growing acceptance of ever wilder conspiracy theories has numbed us to anything, everything. Or possibly, we are already processing such profound change in politics and policy – which produced successive years of 15% US federal deficits, fully funded by the central bank, even as inflation soars and we expand infrastructure spending – that we have no remaining mental space for another alien.

But no matter, back here in our earthly existence, it is a reminder to us traders and investors that no matter how momentous the change, it only matters for markets when for some mysterious reason it starts to matter.

Back and Forth

In a week when the US military released its report on Unidentified Aerial Phenomena, it is awfully hard to find the energy to write (or read) any more about today’s fiscal/monetary singularity. So I’ll keep the boring crap short: Two weeks ago, the Fed surprised markets by pulling forward its plans to escape today’s inflationary policy vortex by a quarter or two. Over-leveraged traders puked. This past week, markets more or less realized there is no escaping such a strong gravitational policy pull. This back and forth will be with us for years.

First Encounter


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