So how come US and it's counterfeited dollar are still afloat? Why isn't it happening?
In my own humble opinion the best answer is at:
http://howfiatdies.blogspot.com/2014/01/how-we-know-inflation-is-coming.html
But the key really is that the new money the Fed made has not left their building yet.
They started paying interest on excess reserves and got the banks to leave the money at the Fed.
http://howfiatdies.blogspot.com/2013/02/excess-reserves-is-like-government-debt.html