It is impossible to force the economic development of society by artificially encouraging investment and initially financing it with credit expansion. This policy can only have benefits if economic actors also elect to begin saving more at the same time.
Under an inflationary monetary scheme, big financial-sector players who get the new money first benefit the most. Ordinary households down the line then bear the brunt of price inflation.
Emerging-market currencies often suffer a as a result of their government's own profligacy. But the US is also actively trying to destabilize some currencies, and setting up a conflict that the US could ultimately lose.
With printing of the Continental notes in 1775, Webster feared people would think you could finance the Revolutionary War by printing paper money. We should have listened!
