> but it will lead to a steady decline in the value of the dollar vs other currencies. That would be true if the other currencies weren't printed like crazy al

> but it will lead to a steady decline in the value of the dollar vs other currencies. That would be true if the other currencies weren't printed like crazy also. Have a look at past year's increase in M2 circulating supply of the EUR or GBP. They're very similar to the one of the USD (percentage wise). That might be the reason why the dollar didn't collapse compared to them. The dollar (and the other currencies) collapsed though, when compared to assets that didn't increased in quantity at the same pace: real estate, stocks, gold and bitcoin. None of which is part of the CPI, hence the low reported inflation in the developed world economies.