"At some point this money printing will have to result in...

"At some point this money printing will have to result in inflation."

Thats a great observation UT. And thats the point that inflationists and deflationists cant agree on. Will a percentage of this cash finally end up on the street, bidding up prices in who-knows-what or will bank reserve requirements keep the money locked up because loan-loss provisions mandate it to be so?

Right now you would have to say the latter when you see whats going on in Europe. Every trick in the book is being tried to get debt creation going again & it just isnt happening.

My personal view is this money will finally make it to the market place, but not (so much) to sectors that are debt-impaired since there now appears to be an entrenched view that borrowers will (in aggregate) have trouble paying them back.