>Printing money on this scale doesn't add wealth to the economy
Ceteris Peribus...
But when vast amounts of wealth vanish in a broad deleveraging you are merely replacing money. Case-in-point, the US pumped over $1TT into the economy since 2008, and yet the value of the dollar has gone through the roof, despite the cries that hyperinflation was around the corner.
Probably something to do with the safe haven status of the dollar. Whenever there is a sign of trouble in the global economy, investors dump soft/emerging economy currencies and buy dollars, yen and Swiss franc
Ceteris Peribus...
But when vast amounts of wealth vanish in a broad deleveraging you are merely replacing money. Case-in-point, the US pumped over $1TT into the economy since 2008, and yet the value of the dollar has gone through the roof, despite the cries that hyperinflation was around the corner.