I BELIEVE THE BIGGEST BUBBLE IS IN THE PURCHASING POWER OF CURRENCIES, BUT THERE MAY BE ANOTHER WAVE OF ILLIQUIDITY!
STOCKS AND REAL ESTATE MIGHT SELL OFF AGAIN!
PRECIOUS METALS MAY GET THROWN OUT WITH THE BATH WATER!
A GREAT RE-ACCUMULATION OPPORTUNITY WILL ARISE IN REAL ASSETS IF SO!
The bubble is in assets of all kinds. Purchasing power of currencies are way down relative to assets, which is monetary expansion at work.
You can see this when comparing indices relative to M2: