I have a theory that the country who is the last to do qe will...

I have a theory that the country who is the last to do qe will do best and what allows them the chance to play qe musical chairs is their debt to gdp. America will likely have another go to boost exports at 102%. Yellen would never blow their bonds up. Although it is social security that gets hit the hardest and 15% of people are on food stamps. So maybe no one or nobody would notice if Yellen does blow social security, China and Japan up. Raising rates would get some inflation going to offset the debt. However assets would deflate. Money would flow to whoever is conducting qe. It will be a game of musical chairs all over again. And Japan is determined to be the last.