i'm very confused. You say you are not worried about inflation but you worry that the Fed will print money to buy Treasury debt. Short term deflation is the concern, but I try to think long term and get ahead of the curve. Long term, our debt will ensure that inflation will be our genuine concern. Oil has risen from $10 a barrel to $75 in just a few years. True it was higher a few months ago but thinking $75 oil is cheap is not historically accurate.

The demand for dollars was artificially caused from money printing by the Fed that allowed for a huge trade deficit which was then parked in US Treasuries. Inflation and low rates cannot exist for a protracted period of time. 

Silver is a good investment but I prefer gold. Silver is also an investment geared around the business cycle.  So it should underperform AU.