Edit, one thing tho , this kind of QE has proved to not do much for inflation. Most probably because the money does not trickle down to the real economy...
I wonder if this is like 2008, where the "money" being put in is just filling the already existing invisible hole that no one likes to talk about (sometimes called value, or goodwill). Back in the old days of Jan everyone would somewhat trust each other, and money should include the value of that trust. With that trust gone they're simply replacing it with dollar bills.
Now when people finally stop trusting the little slips of paper is when it gets interesting. Trust in a govt's currency is based on trust in the government (unlike say trust in math). If the govt is run by a complete moron and his moron friends then that trust could go away.
Bitcoin so does not have this problem.