$0.3 trillion new money in a week. It took them a year to take off $0.6 trillion, and they've undone half of that progress in a week. Guess it's back to normal proceedings of money printer goes brrrrr! Can't have the banks losing money now, can we! The banks must be protected at all costs. Fuck 99% of the population who are being made poorer and poorer on a daily basis. As long as the banks get endless bailouts!
Makes you glad we have Bitcoin around for the last 13 years, now doesn't it?
It's called Modern Monetary Theory. The idea is that if some superpower government prints as much money as they like, they can ignore the macroeconomic effects of putting a drastic amount of money in circulation, as long as they are endlessly spending as they are endlessly printing money.
If they don't spend, *then* they are in big trouble. Because the prices of everything will skyrocket.
But eventually, governments who keep doing this will run out of resources to buy, especially those who print successively larger and larger batches of money at once.