So, what is inflation?
Inflation is the velocity of money [or the rate of speed which money changes hands]. If the fed prints a trillion dollars and it just sits in the vault it has zero effect on prices. On the other hand, if the fed could get that money into circulation we would have massive inflation. The fed has printed the money, that is the easy part. The hard part is getting the money to circulate. The banks do not want to lend, and nobody is credit worthy enough to borrow.
NO INFLATION!
I suppose the laundering of this fiat currency is going to occure through increase in promises and salaries to government workers and select union workers.
This is the socialist and immoral debauchery of the currency Lenin was talking about. It is going to happen sooner or later.
The government is going to print out checks to its losers or, if not, Oligarches at best. The banks will be forced to accept it. Then they will convert this money to various assets and inflation will occure because the cheap toys the prowls will buy with it will flood the economy with worthless recycled paper ultimately.
It’s a ponzy scheme. We need to return to some kind of gold standard so as to prevent this sort of cheating. It is too hard to mine for gold to over print it, and this is why gold as a standard is still a good idea.