Yes, young man. I speak of hyperinflation vs. deflation. The moral hazard associated with our current debt monetization will eventually result in the monetization of all debt. The Federal Reserve has already said they will be buying treasuries, as if it's a good thing. Treasuries are meant to be held by foreign banks who put that debt on their books as an asset, so they can exploit reserve multipliers and create checkbook money. It's called fractional reserve banking.

It's too complicated to explain here in a couple paragraphs, but cliff notes go like this: Constant monetization of debt results in hyperinflation, and a tightening of credit results in deflation.