You are correct, a dollar collapse is unlikely. This notion of hyperinflation being caused by QE couldn’t be more off base. There isn’t $20T in circulation causing inflation because the Fed doesn’t print money. It’s just sitting in bank reserves for lending purposes. It cannot be put directly into the economy through stock buying or by putting physical dollars into circulation. It’s only used for lending programs, and a huge portion of it was never actually lended so it’s just sitting in the bank reserves, not being spent by consumers which is what drives inflation up. The M1 and M2 supply of money have been at all time highs which means people aren’t spending and instead they are cash hoarding which means if they’re not spending then hyperinflation is unlikely. Especially if the fed moves quickly to end QE measures and drastically increases interest rates over the next two years which they definitely are going to do.

The primary drivers for why we’ve experienced increased inflation over the last year and a half is due to supply chain issues. Oil has gone up because OPEC is basically run by a cartel, semiconductor shortages have driven the cost of electronics up, factory closures and lack of workforce in ship yards due to covid spikes disrupting distribution etc… All of which have absolutely nothing to do with QE measures but are directly related to inflation as supply is low and demand is high therefore, prices increase.