EU 857 Billion dollar stimulus package, How is it conceivable that countries can do QE like this and get away with it? There is no gold backing on bank notes. No hyperinflation happens. Can the Western Governments just print their way out of a crisis?

One of the things that makes money, money is the agreement by all parties involved it's going to exist in the future. That's actually why gold was originally used it doesn't rust, corrode, deteriorate, burn, and left to itself will remain the same for thousands of years. So, why is, for instance, US currency so sound even though the country is trillions of dollars in debt? Because most people around the world assume the US will continue to exist regardless of how bad things get. Eventually, this will all work itself out. Might not be for a few years or even a decade, but the assumption is it absolutely will eventually.