Yeah, I think Snyder’s view is nearly opposite. Although “opposite” implies two possible answer at different ends of a spectrum and it’s not really that. Anyway, he would argue that the FED can’t “print” money. Mostly what gets “printed” ends up on bank balance sheets but doesn’t make it out into the real economy. 

Are you familiar with his thoughts on this? He had a discussion about this very thing at last year’s Bitcoin conference with nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a .