The ever-brilliant lads at Deloitte Access Economics highlighted that with GDP in Britain floundering (worsened by diabolical weather in April) if the Eurozone crisis intensifies, the Brits won't hesitate to switch on the printing presses to pump up the economy with more cash.
Of course, in this day and age, they won't literally print more cash.
Instead the Bank of England will buy assets from the private sector, government bonds and quality corporate bonds - effectively increasing the amount of money in the economy and hopefully stimulating growth.
Since 2008, the Bank of England has fired some £325 billion into the economy.
Normally, a central bank would look to cut interest rates, but with rates already a record low of 0.50% there is not much room for movement left to work with.
Inflation in the UK is running at 3.5% year on year.
History has shown that QE does not necessarily lead to inflation, but where inflation does occur, QE is often a key precipitating factor.
A tax on net savers
Inflation is bad news for those who try to save their cash (and also for pensioners) as each year the cash loses a percentage of its purchasing power.
What is needed as protection is investment in inflation-busting assets - shares in outstanding franchise-type companies who have the ability to raise their sales prices in line with or above the rate of inflation (personally, in the UK I just buy the FTSE 100 index via a fund) and investment properties in areas with supply shortages (London and the south-east of England).