When you have money backed by gold, those who have it benefit from its appreciation. Same is true of any deflationary currency. Wealth tends to flow uphill. Ev

When you have money backed by gold, those who have it benefit from its appreciation. Same is true of any deflationary currency. Wealth tends to flow uphill. Even in Communism the politically connected realized that wealth in that system was political capital and learned to position themselves to accumulate it. There is a reason the USSR collapsed and gave way to one of the most aristocratic states in the world. I don’t discount that site though. A lot more happened in or around the early 70s than just the collapse of Bretton Woods. I also don’t dismiss your comment as untrue. A fair inflationary currency would almost literally drop money from helicopters, not issue it to banks and governments. Still I imagine over time people would learn how to chase the helicopters. All systems will be gamed. No exceptions.