I think its a good summary, but one should stress a key point: All this QE, aka money printing, can only be removed in a "nice" way if the additional liquidity

I think its a good summary, but one should stress a key point: All this QE, aka money printing, can only be removed in a "nice" way if the additional liquidity is to a larger extend used to create additional value rather than consumption. De facto, most of the liquidity is consumed without added value (Zombie companies, certain government expanses,...) This can only work for a finite amount of time.