> if something that seems crazy continues to happen then the primary culprit is money

I agree, but I’d get more specific; the primary culprit is usually over abstraction and misallocation due to bad assumptions about value.

When used appropriately, money is a fantastic way to signal relative need and allocate resources in a decentralized way, and is one of the most powerful and sophisticated technologies we have.

When money is artificially easy to come by and leveraging is artificially low risk, that decreases price signal quality and leads to increasing levels of insanity.