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Secret weapons have no ability to deter cataclysmic violence. The reply from the Russian ambassador is one for the ages, “It was to be announced at the Party Congress on Monday.” Remember this when we consider the curious question of the demise of Archegos Capital. Because sometimes I watch something unfold and I have zero opinion on it whatsoever.  The Suez blockage was one of them.  I had to will myself to care beyond the obvious, “this is bad” reaction. The more I think about it, however, the more significant it becomes (more on that in future posts). On the other hand, the minute I read a single article about the vaporization of Archegos capital on Moday morning I smelled a rat, or least something vaguely rat-like.  And what immediately popped into my head was this thing is important, but not for the reasons anyone will admit to on CNBC or in the financial press.

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