This exactly. People are so distracted by the gradual erosion of wealth caused by the magic money printer that they fail to appreciate the risk of rapid devalu

This exactly. People are so distracted by the gradual erosion of wealth caused by the magic money printer that they fail to appreciate the risk of rapid devaluation triggered by political and social disintegration. Check out what happened to the exchange value of the ruble after the collapse of the USSR, and that wasn't even caused by losing a war. The last two decades, and especially the last year, should be telling us that our political, financial, technological and social systems and supply chains have become brittle. I'd guess that the probability of a USSR-style collapse of one or more large western nations in the next five years is in the low double digits.