QE was more of a way to keep the system alive than a "broad monetary stimulus". Giving money directly to the people in a crisis creates ultra-high-velocity spe

QE was more of a way to keep the system alive than a "broad monetary stimulus". Giving money directly to the people in a crisis creates ultra-high-velocity spending and massive inflation. People rush to the stores buying up wares expecting the money to become worth far less soon. Store owners hold back stock and raise prices, fulfilling the fears of the people. A similar situation is currently unfolding in Turkey, by the way.