"To me the biggest mystery about the 2008 crisis is why so much QE has resulted in so little inflation." Because what you call money is just a 0% permanent bea

"To me the biggest mystery about the 2008 crisis is why so much QE has resulted in so little inflation." Because what you call money is just a 0% permanent bearer bond to anybody not in your currency area. QE is just a swap from interest paying savings to non-interest paying savings. If you're scared, you don't need paying interest to save, and anybody without a good index linked state pension to look forward to is scared.