The point of this monthly chart is to show that the recent volatility is trivial in the larger context of the third great bubble. The collapses of the last two bubbles have taken 12-18 months to unfold, not four days. While this one seems to have finally kicked off, there is a long way to go. Given the unprecedented global nature of the bubble, resulting from the simultaneous interventions of central banks around the world, it seems likely to me that this one will both take longer and fall much further than the previous two.

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