Can you think of any period of hyper-inflation without quantitative easing? People assume that because the velocity doesn't increase in lock step with the amount of currency creation that somehow inflation has been avoided, but the tsunami is still coming.

A series of growing incidents will become a crisis, and it will lead to a collapse in faith of the spending power of all western fiat currencies. That's when everyone, including large institutions will start disgorging vast amounts of dollars in an effort to put that value somewhere more secure and the spending power of the currency will collapse and with it the value of everyone's savings.

There is nothing new here. This has happened many times before.