Every other country who has printed has been destroyed economically with mass inflation . Can we truly print unlimited with no penalty. So far the answer is yes . Everything we ever knew about economics has been rendered invalid so far.
Some say that there is a dollar shortage. It’s part of the dollar milkshake theory. Foreign country swap their FX and some gold for dollars. To pay back their debt. The strength of the dollar is its world reserve currency status. They say people around the globe will buy dollar and put it into liquid US denominated assets. Dollar will surge. SPX too. Gold will fall but only for a time. Then the monetary system will collapse.
You must also watch George Gamon? Along with what you said, its also important to point out that the Fed only really has control over the short end of the yield curve. Business sets much of the rest of the interest rates. And although the Fed can control the supply and demand for treasuries and all that jazz with unlimited buying, George outlines well how easy it will be for them to lose control of it. As you say, there is a current demand on the dollar, then inflation, and then it all goes to shit.
We've been in money printing mode for 10 yrs yet no inflation. When we were printing in 2008 $ index went to 75 i believe yet no inflation. Weak $ strong $ it hasn't mattered