2 ms·
I would say it's not a rich vs poor issue. The people who lose money with inflation are the ones who are over exposed to their currency: pensioners close to re
by naveen99 10y ago
I would say it's not a rich vs poor issue. The people who lose money with inflation are the ones who are over exposed to their currency: pensioners close to retirement, forex traders or foreign governments who bet on that currency, black market players who have to hold large amounts of cash without investing it, banks with a lot of fixed 30 year low interest rate mortgages outstanding. Forex players, banks, and foreign governments can be rich, pensioners and black market players can be poor.
Banks actually sell most of the mortgages back to the federal government in the us. Maybe that's the reason us government isn't inflating the dollar too much. They themselves hold most of it through mortgages.