Regarding gas prices, Bush's wars drove up the price of oil. And then just when our adventures in Iraq finally came to an end, the money printing began in earnest. Obama hasn't helped by keeping Keystone XL in political limbo, pushing offshore drilling outside the US, generally assaulting the energy sector with regulation, and setting fire to several more countries in the Middle East (Libya, Syria, Tunisia, Egypt, et alia).
If I interpret you correctly, you state that prices would have fallen if the Fed had sat around and done nothing. I believe we may simply disagree on the desirability of this: some may prize debtors, but I value savers. And I thus generally think of falling prices for household goods (the dreaded deflation!) as a good thing. However, the Fed looks at one of its primary duties as propping up the prices of mortgages. The ostensible purpose is to protect "underwater homeowners" who spent beyond their means. The actual purpose is to take toxic waste off the balance sheets of banks and to put this hot potato in the laps of dollar holders (not just taxpayers, but all dollar holders, including the Chinese).
Anyway, we can talk all we want about these macroscopic phenomena, but ultimately what it boils down to is that people want the Fed to "help the poor" and not simply stand there. And the optics look like they are helping the poor by diluting the dollar and thereby inflating away debts (i.e. the inflation which "doesn't exist" will soon be called a feature and indeed set as a goal by the likes of Krugman).
However, the Fed is also inflating away earning power, and the banks are the first recipients of these inflated dollars, thereby profiting the most from said inflation. The result is a policy that actually hurts the poor far more than simple inaction and rewards the very richest - not entrepreneurs or technologists but the banks that receive direct deposits from the Fed for its "purchases" of mortgage-backed securities (meaning $1 purchases of things worth $.01, or $0).
Bitcoin is a strike against the Fed and the banks by the Valley, perhaps a critical blow. It is very surprising to me that pg (or anyone) could think that USG could possibly have released something like Bitcoin, as it strikes at the very core of the US government's power: the ability to print money.