David Zervos is an unabashed fan of Ben Bernanke and easy money, but he has lots of street cred and a Fed pedigree. Whether or not you agree with him, he represents a view that is accepted wisdom in central bank circles, and we need to remain aware of this. On top of that, he can actually write in clear terms. Here he notes a few connections not totally obvious and one lesson from history. Japan has done this type of easing before. The resulting impacts on a number of countries were not pretty.