Yep. There is too much “money” as opposed to wealth out there.
So the money goes ceaselessly chasing safe havens of investment. The haven of the moment by definition therefore creates a bubble, which bursts when the money decides to flee to a new haven.
The problem is that in such a world there is not and cannot be a safe haven that will maintain the value of the money. Inflation WILL take place to return a balance between the amount of money and the amount of “stuff.”
And the longer that accounting is postponed by gimmicks, the worse it will be.
There is another bubble, that is ammo.
This bubble is at or near the peak. It is the haven of the moment for many feeling the need but lacking the means to invest in Treasuries.
BTW, if you don’t sell, the money is safe until redemption. The problem is inflation and the steady devaluation of the US$