Anybody have any idea where all this liquidity is going to go the next contracting/cooling cycle? I’ve been watching stocks, gold, and the bond market simultaneously since Trump took office and they all seem disconnected from one another now. I’m not aware of a time when gold rallied 40% in the same year that stocks rallied 30% as well. We all understand that the dollar is declining- but it doesn’t explain why bond yields aren’t higher than what they’re at currently. Do you think that Trump is going to allow the dollar to strengthen in the midst of a trade war? He seems hell-bent on making other countries buy American goods and services, which strong dollars isn’t good for. I’m just wondering what everyone’s thoughts are (who actually understands liquidity and risk re-allocation, please) about the next down cycle, and where all this money from stocks and the gold market are gonna go- I feel like in general investing in bonds right now is like walking inside the tracks of a high speed train.