[Cheerio]

Sorry to confuse the post with lazy terminology - yes I do know the difference.

Not sure I agree that printing more and more fiat money is NOT inflationary.

[Wyatt's Torch]

In and of itself “printing” money is not inflationary. It can be if it is out of balance with monetary demand. Looking at monetary velocity as a proxy for demand there is still tremendous demand for money. Without providing that supply we would be in a massive deflationary cycle.