Noted and agreed on the money printing. Yet, I see the unfortunate timing of the Russian/Ukrainian troubles as main culprit for current inflationary environment. Using Copper and gold as traditional indicators, a recession is coming. Credit card delinquencies are at highs not seen since GFC in 2008. China doing really shitty. South America in a debt trap. Many other developing countries overburdened with debt and tumbling local currencies. Where is the REAL demand driven inflation coming from? The FED´s and other CB´s narrative are HIGHLY questionable and late in response. Overreach is the danger. In aggregate: the inflationary pressures are already subsiding quite dramatically. I have only one concern currently: secondary effects of wage rises. If the FED raises rates once again at next meeting = definitely add another shovel of longs.