True price discover is totally gone due to central bank and government intervention in markets. True price discovery has been massively distorted. Today these forces and what has become known as the "Plunge Protection Team," appear to jump in at any sign of a pullback. This destroys true price discovery and the proper pricing of assets which are the bedrock of free markets.
In simple terms, the whole world is on a path that avoids real reform and bails out the very people that caused many of our problems. The good or bad news depending on how you look at it is this "great manipulation" will not work indefinitely, eventually, it will come crashing down around those in charge. More on this subject in the article below.