“So if the G printed enough cash so that every American had 10 million in his pocket, prices would not rise?”
Probably not in the sense you mean it.
It would depend on why it happened and if there was confidence in the government.
If it was “kept in their pocket” it would be worse than if it were spent.
Velocity of money is more important than volume in existence.
All wrong.
If it was literally “kept in their pockets” the additional cash would be meaningless. Of course, NEVER in a billion years would it be kept in their pockets. There might be one in a billion people who received a $10 mill windfall who would not spend some of the cash.
When the Cadillac dealer has 5,000 people show up on his lot on Monday morning, as opposed to the usual 10 people, do you seriously maintain that the price of the Caddys would not change?
When 150,000 people show up on the beach front property on Monday, instead of the usual 2, do you seriously maintain that the price of the property would be unchanged?
This is incomprehensible lunacy.