>comparable to giving aspirin to a seriously ill.
>
>You may be right, but in this case the illness may be in our minds. Currency is owned by government and it is perfectly legal to print as much as you need rather than insisting on borrowing from others. There are consequences, but if enough countries see the sense in it, you end up in the same relative position except that the crisis has gone away. Then governments can convert a million inflated dollars into one new dollar valued against other currencies just as it was before and nothing has really changed- unless you are one of those who hold cash rather than appreciating assets. Those people will see their savings effectively destroyed by this tactic. But most of them are abroad and therefore not the responsibility of the government that runs the printing press. Locals could be protected by a similar program to the FDIC anyway. If it is perceived that the whole financial system and crisis are something we made up rather than something cast in stone, the solution seems a little nearer.

Printing press is not something new and, imho, history provides more than enough examples where it ends. In other words, I don't think that it is debatable issue deserving your deliberations. Your position is based on one big presumption that government is wise and accordingly it may convert stone to gold by simple intention. It totally contradicts to the whole flow of human history. Try to give some logical lessons to those stubborn humans never following those wisest governments.