Precisely. My interpretation is that we would have had a deflationary cycle over the last decade had it not been for QE. Main street prices have remained fairly

Precisely. My interpretation is that we would have had a deflationary cycle over the last decade had it not been for QE. Main street prices have remained fairly stable, but it looks to me like assets have priced in a strong future currency devaluation. I still think that devaluation is likely to happen.