Yeah, two scenarios in my post. You are correct no billionaire would hold cash in a high inflation scenario. The thing is who knows WTF is going on. 10Y ostensibly says low inflation but then the Fed are suppressing rates to fuel the debt, but the suppression creates a higher inflation environment as they have to print to buy the bonds to suppress the rate and you have a counter productive feedback loop. Unless people are buying the reward free risk of overpriced bonds which is possible in my mind if the elites are willing to keep feeding the beast they can reverse flows from off shore back to the treasury/fed. But we still have a misleading CPI print and real world price increases that indicate high inflation. It is still to early to call. I think during the next flu season we will have a clearer picture but even a mass die off could have inflationary effects as you would have even fewer goods and services available and a per capita increase in currency units. Maybe all this debt creation is simply trying to fight deflationary effects already present. I'm glad you found my previous comment food for thought, I hope this one is too