Most of the money printing has been reabsorbed by the Fed... banks would buy the treasury bonds and then loan them back to the Federal Reserve. It isn't until

Most of the money printing has been reabsorbed by the Fed... banks would buy the treasury bonds and then loan them back to the Federal Reserve. It isn't until recently that money was printed, sent out, and actually got out into the economy... (at the same time that China shuts down, etc).