Here's the thing about monetary expansion: it doesn't automatically translate into surging demand. Policymakers kept telling Japan exactly that throughout the 1990s. The reality? It took nearly thirty years just to see Japan gradually escape deflationary pressure. That gap between theory and reality matters. When central banks flood the system with liquidity, the mechanics aren't instant—velocity matters, confidence matters, asset allocation patterns matter. The same playbook doesn't work universally across different economic structures or market conditions. For crypto investors tracking macro trends, this historical precedent is worth chewing on: policy moves ≠ immediate market outcomes.