Well, I won't make any friends with my POV but here it goes.
At first glance, it would seem obvious that if you print up trillions of dollars that it should cause inflation. But for that to happen, you have to distribute that money around. That has not happened.
Most of that money was shuffled back and forth with a chosen few taking commissions. So yes, billions were "made" but those billions probably reside in the Cayman Islands and serve the purpose of making fabulously wealthy people feel even more fabulous.
In the meantime, wages are getting lower, the real cost of living is rising and robotics make every worker more productive. We manufacture and import plenty of ****. But its a case of fewer people chasing increasing amounts of goods. You need your money just to survive. For all the cries of "class warfare" this President, just like the last one, has made a better world for billionaires. So there is almost no risk of inflation. Since the Fed controls interest rates, and we are so indebted, don't look for interest rates to rise in this decade.
I know, I know. It defies logic. But really, thats the situation. It won't turn around. We'll get by.
So I still am an advocate of owning PMs. They're pretty if nothing else.