I believe you know Michael Hudson (https://michael-hudson.com/). He is the go-to person for helping us understand how the Western monetary, economic, and financial system really works, the role of the FIRE sector, the debt-based economy, and how commercial banks create money out of thin air with a few strokes on a keyboard in the form credit/loan. This is how most new money enters the economy.
A QE is an instrument that central banks use to provide liquidity to private banks and clear their balance sheets of worthless (junk) assets.
Incidentally, in 2001, the Bank of Japan (BOJ) was the first central bank to implement a non-conventional monetary instrument – quantitative easing – into its operational policy.
I believe you are also familiar with the book by Richard Werner (known as the father of quantitative easing) (Author) of "Yen Princes: Japan's Central Bankers and the Transformation of the Economy."
https://www.amazon.com/Princes-Yen-Central-Bankers-Transformation/dp/0765610493?ref_=ast_
Documentary https://youtu.be/p5Ac7ap_MAY?si=dZMgnp0l23YL20Um
MMT is not new; it is the return to a solid and productive use of a sovereign currency to develop the real economy, create jobs, and finance universal basic services.
First, the state invests, makes payments and transfers, and then taxes to remove excessive liquidity from the economy to control inflation.
The risk of inflation is related to the inability of any country's national economy to produce goods, products, and services (wealth) in line with the money needed to pay for imported products, including those with high-added value.
An economy with a weak currency that has to pay for imports with a strong currency ($US) will have to take on debt in the international capital markets to obtain the necessary funds to regulate the trade imbalance.
The hyperinflation of the Weimar Republic was caused mainly by the humiliating war reparations imposed on the Germans.
