Bottom line is this:

Those who are saying we wont have high inflation (or even hyperflation), but instead will have deflation...dont get it.

Deflation will not be allowed by banks if it rears its head; the counter being immediate injection (if not over-injection) of money into the system. The massive coordinated QE over the past decades at points of fiscal crises has been shown to have increasingly less 'grunt' each time (i.e. must print/inject exponentially more each successive time to get the same - or even less - results).

Thus, even if deflation comes, the immediate response will be massive QE, and, ultimately, massive inflation (and weaker purchasing power).