I doubt it. They will never let this happen. They will do QE3 if deflation begins. Then, here comes hyperinflation.
The government act of quantitative easing is called counterfeiting when done by private persons. Our currency is being debased by turning paper into dollars to paper over out of control spending and borrowing by government.
Greece has be promising (lying)for a year to cut it’s government spending and to fire redundant workers to get aid from Germany and France. The jig is up and the Euro zone is ready to crack. US banks and our Fed are in deep on Euro debt and this adds to our problem economy. Gold will rise in price as it is regarded as a value item over government IOUs. Expect social disorder world wide until the mess is sorted out by a crash and rebuild here and in Europe.