Thus the international edition of Der Spiegel today. “Central banks are currently flooding cash-strapped industrialized nations with money,” explains the newspaper. “This may help governments reduce their debt load, but it also erodes the value of people’s savings.” Inflation is a clever trick, indeed. The only problem with this revelation is that it comes at least three years too late. Quantitative easing is about punishing savers to reward spenders, and that has been clear ever since Ben Bernanke has invented it. Why are Germans so far behind, though? Because Germany itself is now facing recession. While everything was going well, the rest of the world was hardly a concern. Now that Mario Draghi has joined Bernanke in fomenting inflation, savers closer to home are facing punishment. But there are spenders in Germany, as well. Facing rewards, they will swiftly join Bernanke and Draghi in their inflation quest. Watch this space.