I have found a nice article about the possible implications of QE and the unjustified fear for inflation.
http://www.kesslercompanies.com/pdf/...y-11162010.pdf
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The fact that global stock markets have stayed strong, and that economics has not deteriorated remarkably further, has created the feeling that QE2 is unnecessary and will create inflation. This is just a feeling. QE 1, 2, or n is not powerful enough to do what is being imagined.
http://www.kesslercompanies.com/pdf/...y-11162010.pdf