The QE technique is interesting and new. They write up the money on Fed book as liability without pumping printed money into the economy. I think it's recently

The QE technique is interesting and new. They write up the money on Fed book as liability without pumping printed money into the economy. I think it's recently possible because our money is mostly digital now. You can look at US national debt clock. It's there. I think inflation is shifted into debt on Fed book. Between having some inflation and blowing up the debt, I think having some inflation is better now. You don't want to load up all your risks in a central book. But our political class doesn't want this. They want to keep loading up debt. We'll then have a QE race between nations. Maybe, at some point, we come to love each other and burn our debt on each other books. JK, that'll never happen :)