First published by Money Metals Exchange here: https://www.moneymetals.com/news/2022/11/16/dan-oliver-collapse-of-ftx-portends-the-collapse-of-all-the-bubbles-002628

Mirmikan Capital's Dan Oliver today published a brilliant review of the rise and fall of the cryptocurrency exchange FTX, showing how it is a metaphor for all the big financial frauds that preceded it from centuries ago to the present, where even the most imaginary assets can attract and then vaporize enormous wealth. Among Oliver's conclusions: "In addition to general lessons, the FTX saga has more immediate implications for investors. First, it is yet another signal that the COVID bubble is collapsing and at an accelerating pace. The COVID bubble rests atop the QE bubble, which sits on the shadow banking system bubble, which relies on the banking bubble, which depends on the currency bubble.