This article does a great job of laying out the end-game of the global quantitative easing program. Today the following occurs 1) Central banks print currency

This article does a great job of laying out the end-game of the global quantitative easing program. Today the following occurs 1) Central banks print currency to buy debt that no one wants to buy at negative interest rates. 2) Debt issuers (the government/corporations) increase debt issuance 3) Debt issuers purchase any hard assets available in the local currency at the fastest possible rate and earn profits off of the delta between asset inflation and the bond rates. All western economies assets are being inflated, and all western economies bonds have negative interest rates. There is no alternative until. 4) Debt buyers convert printed dollars to RMB and purchase chinese debt. 5) Debt issuers convert borrowed dollars to RMB and purchase chinese debt 6) The Fed prints more money to meet it's market stability objectives 7) The dollar falls relative to RMB, triggering consumer price inflation on items of Chinese origin. Limiting the effectiveness of printing money.