There is an uncomfortable reality for most of FR unfolding.
It was peripherally possible to sort of forget Bernanke printing up trillions upon trillions of dollars — whimsically, out of nothingness — to save the global system of economics. We saw that and because people WANTED money to have meaning (not value, meaning) they just as quickly as they could, just forgot about it.
But now we have Europe needing to spend on the military. In huge numbers. Best to recall that they have their own Fed, led by their own Bernanke. The European Central Bank can also print trillions upon trillions whimsically out of nothingness to fund this sudden desire for weapons.
(You will find that wiki’s on this matter have been whitewashed, but reality is, this is how Hitler, amid the constraints of the WW I treaty, still managed to fund the build up of his military to continent conquering levels.)
Does this mean huge inflation? Well this is where money really loses meaning, because the answer can be no. Decree prices freeze and also decree production must continue even if there is a loss from inadequate pricing (just subsidize the loss). Or put people in a room and threaten them with death.
Money doesn’t HAVE to have meaning.