Judging by the timing and stocks that have been soaring (Tesla being one of the first) this has been apparent. Now this article brings some further evidence to this theory. People have been depositing and trading these stimulus checks, especially in low-middle class. And they are even doing this in the options markets.
Sidebar on US shale oil from GS report...the last slide says 2020 shale production will decrease by ~1.3 mmbopd. That is assuming that contract frac crews and hardware are available, which will be challenging due to massive layoffs and supply chain issues.
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Could be long could be short. Euphoria Index way up too. Put call ratio is bearish yet with all of this the market is near its highs. I would say as long as that gap 284ish SPY remains open you get higher prices. Big range range 270-300 for now.
I like to add to Clive Maund thesis. If everything collapses, gold/silver goes to Saturn but then what happens? Would the Feds do a monetary reset by seizing gold from private citizens to pay up all the debt in the world? This isn't just the American banking system but the world banks has the power. Gold would have to be valued more than $73,000 an ounce in USD for that to happen.