Ben dunnit says Wiki

'On July 15, 2008, a [oil] sell-off began after remarks by Chairman of the Federal Reserve, Ben Bernanke, indicated significant demand destruction within the US because of high prices.'

Wiki from oil price history.  But Ben's comment almost exactly coincides with the crash in money multiplier.  Really?  Yes and no.  When you have a central banker then it becomes a focused signal for disruptive change.