Placebo

I am told by one of my Alpha readers that this spell is "quite possibly the greatest spell ever written". I am intrigued if other people feel similarly towards it.

Placebo:

Illusion (B): Level 5: Target Person: Range Touch
This spell gives the target a false belief about something based on faulty conclusions. The belief must have some attachment to a real event and be grounded in drawing a conclusion about the meaning of the event. For example, a peasant might be led to believe that the King’s recent tax increase is a sign that he is being controlled by a demon. So long as the tax increase is real, the wild nature of the conclusion slips into the mind unexamined. Save vs Magic resists. This belief is permanent and cannot be reversed except by more magic.

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Thoughts?