Print away scumbags! There is nothing stopping you. Keynes put a hole in the fiscal dam when he made the simple suggestion that the government could overspend (deficit spend) in bad times to boost the economy but save during good times to even out the cycles. Governments spent more making larger and larger deficits -- anticipating better times. The dam burst when the yuan became a reserve currency and was accepted in the oil trade. You have a communist dictator able to create money. What can go wrong?
Inflation theory was based on dropping in a big chunk of currency would drive up prices (inflation) because it would take time for production of goods and services to catch up. Not today! Lead times are months or weeks -- not years. So print away!
Ahhh Love how you carry things to the extremes to prove your point -- every state with an open check book,,, Cuomo alone would Venezuela NY... You were right about it being part psychological, We have to hold back the loonies. Remember I said beyond 2% and how the money is spent matters. It needs to be truly an investment that returns value.
I went to UNC... Tenth Econ school the nation at the time... I made the only A in my econ stat class reputed to be the hardest class at Carolina... the next highest grade was a C. And Keynes' arbitrage is about as far as you can get from gambling, supposing you understand what arbitrage is. Buying rupees below market in London and selling them simultaneously in New Delhi for more pounds is hardly a risky venture...
I was hoping you would dare to prove me wrong about the attractiveness of econ women -- but alas, crickets.