Study 86: THE SINGAPORE PROTOCOL

On March 22, 2026, the Associated Press wire carrying the PLCFA framework's diagnosis of the Banksy unmasking reached every major newsroom on earth; syndicated to 1.2 billion potential impressions before the trading day closed. The expected market behavior, by the logic of the Spectacle and of speculative capital, was motion: liquidation, repositioning, the urgent recalibration of the hold-or-sell calculus that governs institutional art market portfolios. What happened instead, particularly among the most sophisticated collectors concentrated in Singapore (the city-state that, per the 2026 Art