G3 central banks started the printing presses, China (and many others) got the heebie jeebies about hyperinflation (and their ownership of trillions of US Treas

G3 central banks started the printing presses, China (and many others) got the heebie jeebies about hyperinflation (and their ownership of trillions of US Treasuries), so they stockpiled commos. Little did they realise that their own massive structural population shifts were going to continue to keep global inflation subdued, and so now we're seeing a wholesale dump of the stockpiles. This thing was already telegraphed by the tankfest in copper last year. It was one of the favourite stockpiles and was used as cascading collateral for many times more than its value in loans (speaking to the equity bubble too). The old "metal with a PhD". The whole thing is now unravelling. A conspiracy theorist might argue that "the authorities" (read: the Fed) have an interest in keeping commodities down, as this allows them to continue to print. Hence easy money for shale, and, including the convenient side effect of scr*wing the Saudis, allowing Iranian oil back into the market. BTW: next stop is western property prices. That's where hundreds of billions in emerging markets money chasing safety has also gone.