Phaaaaarque,
Pressure to print AUD will rise as our trade partners escalate their printing. Japan has led the way to new mad highs in moneyprinting rates per unit GDP. Others will be forced to follow or lose income.
However, I think it will take aaaaaaaaa more unified, organised and wholehearted capitulation to Euro-printing to fully assure a global inflationary future. Global pressures on the Eurozone to print faster are mounting (think Japan, Greece, Cyprus, USA, China, etc.), and the Eurozone (think Germany) will either give in or go under I expect.
I've heard it said that there are no effective mechanisms to ensure that wet-inked money gets circulated enough to ensure inflation, but I'm guessing that governments can print and spend as much and as often as they like if they and the voters become inured to it happening. That is, I'm guessing that effective policies and methodologies are available, but they're a bit too shocking to use just yet. Japan may be showing the rest of the world what's in store in that regard.
Graaaaav
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