Once the money is created by the debt instrument it is persistent and keeps on even if the originating instrument failed.

It's insidious.

Banks have infinite ammo.

Better to remove your money from them entirely. That’s how you make them go broke.

This is a longer discussion, but bankruptcy would have been a much better tool then massively increasing monetary supply. As you say, the opposite of inflationary. Many of the companies that received the printed money in the form of PPP or EIDL loans are now back in my office for bankruptcy. Also, in many instances the SBA is chasing my clients after making a determination that they made some type of technical error in their grant application.