> How does this not impact inflation? Ask Japan. Their M1/2 has growth bigly over the last few decades and they've had next no inflation. Remember, the 'genera

> How does this not impact inflation? Ask Japan. Their M1/2 has growth bigly over the last few decades and they've had next no inflation. Remember, the 'general' equation is: Inflation = Money_supply x Velocity. Yes, there's a big tank of money sitting around, but it's not sloshing around the economy that much. And if it does start, there's at least one tool to cool things down: raise interest rates.