>Now please explain why withdrawing some money from your bank account, which converts a deposit account into currency and causes "printing" of money (this is th

>Now please explain why withdrawing some money from your bank account, which converts a deposit account into currency and causes "printing" of money (this is the only thing that can cause printing of money) is going to cause inflation? Why do you go directly from OP's comment to this question? The market perception of downstream inflation arising from USD 'printing' is arguably the origin of price inflation. We've seen asset inflation (from real estate to crypto to commodities), now we're seeing price inflation follow. >Shifts in these from one to another may cause swings in M1, and they are the only possible cause of "printing" USD, but they don't cause any inflation. The US wasn't pulling from equity to print these funds, it was diluting the existing. This isn't a transfer from one asset to another.