What's really going on here is the launch of hyperinflation. That means, extreme amounts of money (nowadays mostly in terms of debt) chasing the same or less amounts of product and services. It's classic Weimar hyperinflation, well documented.
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For the last few years globally there's been a slowing economy even before the china-virus started to spread. The dot-com crash, 2008 housing crash, 2015/teens crash, and especially the apparent pandemic shock were all dealt with by intense 'money-printing' officially to 'stimulate' the economy, but really to kick the can down the road. Issued largely in terms of debt, which can never be repaid. USD 27 trillion and counting, at least south of the border, and growing exponentially. Our last Minister of Finance Morneau clearly saw it, and he quit. The only way that kind of debt can be dealt with is paying it and/or interest off with new hugely inflated dollars. The smoke screen of a virus pandemic is a wonderful coincidence (maybe) for governments to hide it or distract most of the population from it.
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When lumber and groceries and vehicles and stocks rise 30% or more in a year in a slowing economy, it is not a one-time temporary effect brought on by 'pandemic' fears. If anything, lower activity would drop prices making everything cheaper, not more expensive. But in fact goods and services are not getting more valuable despite being more expensive - the value of money is really dropping like a rock. It won't end anytime soon, or with a soft landing. And few if any 'first world' currencies will be saved as they are all completely interwoven now.
http://thirdparadigm.org/doc/4506088...Money-Dies.pdf
You can bet your bottom dollar that most billionaires and their politicians in power are now re-arranging things to stay that way when the seams come apart. I think it's called 'feudalism'.