William Johnston Posted over 1 year ago This speaker overlooks the other side of the coin. Where and how will the spending effects of this new found money play out. It is reassuring to know that this author and some people reading this article believe that restructuring loans, bankruptcies and defaults on bonds and other promises to pay will have little negative economic consequences. Tell the municipal bondholders and GM stock holders who lost everything that it' is okay. They were just "Too big to fail?" Savings and other investments attached to cash devalue when inflation happens.