I think McWilliams is getting at the major problem with quantitative easing though. Most of the new money goes to wealthy elites who are rich already and massive inequality is created.
Back when I was very interested in crypto part of the reason was that I thought it opened up new possibilities for a more egalitarian quantitative easing.
I also think that ironically quantitative easing is part of what created the crypto-bubble; elites ended up with unimaginable amounts if cash. That meant there was soon no value in the stock markets but they had to put the money somewhere.
I wouldn’t completely dismiss what McWilliams is saying there has to be a better way of performing quantitative easing, but if course the elites dont want it because they’re the current winners.