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Summary
Central Banks in US and UK are dramatically increasing the money supply. They can't reduce rates any further so they are in effect "printing money" and flooding the economy with liquidity. Rapid inflation would be the normal result, but this is being offset by peoples fear and lack of need for borrowing. As sales fall, stocks reduce so funds can be repaid and there is no incentive to buy assets which are falling in value, so why borrow. So which will win the inflationary effect of debasing the currencies or the fear of more falls in asset prices.