argues<\/a><\/strong> that central banks have distorted the natural economic cycle through years of intervention and artificial market stabilization. Rather than allowing businesses and markets to correct themselves, central banks have increasingly acted to avoid short-term pain, creating what he calls a \u201cprice-fixing regime.\u201d<\/p>\n\u201cEntropy is natural in the universe,\u201d Mallers said, adding that suppressing volatility and avoiding corrections has built up massive pressure in the system. According to him, this interference has removed all semblance of honest price discovery in key markets \u2014 except for Bitcoin.<\/p>\n
The Bond Market Breakdown<\/h2>\n
He also pointed to the bond market as the biggest red flag. Once considered one of the most stable financial instruments, it\u2019s now showing signs of serious dysfunction. Mallers described it as \u201cthe most unruly, holy mother mecca of all markets,\u201d suggesting that even central banks are struggling to contain its volatility.<\/p>\n