Here's the real question: has the market already baked in the half-trillion dollars of fresh QE? Look at gold and Bitcoin—they've both been climbing. But is it just inflation hedging, or are we seeing genuine price discovery around this new liquidity?

Gold's traditional play here makes sense. More monetary stimulus typically weakens currency purchasing power. Bitcoin, though? That's the interesting one. Some argue it's a natural beneficiary of unlimited money printing. Others say the correlation's weaker than we think.

The timing matters. If QE was already expected, prices should've priced it in already. If it's a surprise—or if the scale exceeded expectations—we might be seeing fresh moves.

What's your take? Is this old news reflected in current valuations, or are we still in the early innings of repricing?