Printing new money is what has driven inflation in US to the highest levels in 40 years, but many people do not realize that the printed money is deployed in other countries, which is doubling and tripling inflation outside the US.
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The question now is whether the US will be able to maintain the status-quo somehow or whether this unprecedented flooding of the paper dollars will lead to an economic collapse and a reset.
I don't think it will be a reset, but the devaluation of the US currency by overprinting and inflation may result in other countries no longer using US dollars as the benchmark. Already, we see more countries moving to crypto as a stable currency.