That said, I don't understand why the fiat exchange rates are stable (USD even coming out ahead as you say) but inflation is not even. In Europe, I'm not seeing any noticeable inflation in consumer goods but apparently consumer goods inflation is very noticeable in the US... But you'd think this uneven inflation should affect exchange rates. Why can't Americans get the same price for the same product as Europeans can? That should be a major arbitrage opportunity.
IMO, there is some serious manipulation going on here to prop up the USD and this may be what is causing the inflation and shortages in spite of stable exchange rates.
Also agree that EU does distribution wrong way. It would be better if they simply gave more cash to extend reach of already succesful companies, maybe. Or just sane law to fund startups via shares EU wide.