"World War III May Have Already Begun", Pope Francis Warns

While we doubt the pope is much of a trader, based on his latest comments, speaking during a visit to Italy's largest military cemetery, where he was commemorating the centenary of World War I and where he said that a "piecemeal" World War III may have already begun, we assume he too would join the confusion of the BIS and every other carbon-based life form, wondering how it is possible that risk assets are at all time highs which the world is not only teetering on the edge of a new global conflict but may have already in fact entered it. Oh wait, the central banks, never mind.

But back to the pope. From BBC:

A "piecemeal" World War III may have already begun with the current spate of crimes, massacres and destruction, Pope Francis has warned.

"War is madness," the Pope said at a memorial to 100,000 Italian soldiers at Redipuglia cemetery near Slovenia. The Argentine Pope has often condemned the idea of war in God's name.

Only last month, Pope Francis said the international community would be justified in using force to stop what he called "unjust aggression" by Islamic State militants, who have killed or displaced thousands of people in Iraq and Syria, including many Christians, the BBC's David Willey reports.

In Saturday's homily, standing at the altar beneath Italy's fascist-era Redipuglia memorial - where 100,000 Italian soldiers killed during WWI are buried, 60,000 of them unnamed, the Pope paid tribute to the victims of all wars.

"Humanity needs to weep, and this is the time to weep," he said. "Even today, after the second failure of another world war, perhaps one can speak of a third war, one fought piecemeal, with crimes, massacres, destruction," he said.

And don't forget S&P500 at all time highs. Because the New Normal, where apparently world war news is the best imaginable news for risk assets.

But while the Pope may be pacifism personified, his grandfather is quote familiar with the concept of world war: he fought in - and survived - Italy's offensive against the Austro-Hungarian empire, in north-east Italy in 1917 and 1918.

That said, we now fully expect futures to open limit up because there is nothing more bullsh for central bank intervention that the world waking up one morning with mushroom clouds all over the place. Just think of all the printing...