This is actually more true than people realize. Gold is down to flat even after the the huge Fed announcements. The CRB index has been getting crushed in the last month. But this short-term liquidity demand is going to go away. The real inflation story is going to be when it does and the economy settles down. Then we will have all these programs that pumped huge amounts of money into the system, and unless they are sanitized watch out. I've seen people losing a lot of money on gold calls, but i think the proper time for that is going to be when this short-term credit demand has dried up and business starts returning to normal.

> the money printer going "brrrrr"

For those who have yet to have the enjoyment of the experience: https://brrr.money/

This seems true, every currency pair against the US dollar that I checked is down substantially. Yen, Cad, Eur, Gbp, among others.