The LIBOR-Gold Forwards Pain Index - Gold Lease Rates Plunged - More Than Meets the Eye

This is the reason for the ferocity of this sell off in my judgement, coupled of course with a general liquidation in stocks and other 'risk assets.'  I cannot help but notice that despite the message of panic, the SP futures remain in a fairly well defined trading range that goes back to late October.  The lower bound of its triangle is around 1180.

Maybe things will fall out of bed, and