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Money printing makes the rich richer and the poor poorer. The world consists of stuff. Money is used represent it. Make more stuff, prices go down. Print more m

Money printing makes the rich richer and the poor poorer. The world consists of stuff. Money is used represent it. Make more stuff, prices go down. Print more money, prices go up. If you already own stuff, it's worth more money. If you don't, you may never be able to afford it. If you're lucky enough to ever get a raise, your income tax may rise, whereas, the capital class has their gains tax deferred, only paying at sale, and at a lower rate! Join the capital class as soon as you can, because it's the best way to get rich and stay rich. By the way, the concept that inflation benefits most those that receive it first is called the Cantillon effect. Pull yourself up by your bootstraps? The good news is, saving and investing is how the rich stay rich, and they don't have any better access to the best assets in the world than you do. Thanks to cryptocurrency. Bitcoin, Ethereum and even one I founded have all given thousands of % returns. If you're tired of people printing out of thin air, that which you have worked so hard for, we've got p2p open source solutions for that which do even more than just raw accounting.

samvher 6y ago
Where are these thousands of % returns coming out of, if not out of thin air?
- RichardHeart 6y ago
  People switching their value storage from a crappier system to a superior system. It's all just an analog for the stuff that actually matters, which is goods and services.
imtringued 6y ago
Thank you for bringing up the Cantillon effect it is a concise way of describing how QE drives inequality by giving money to the wrong people first. The problem is that now everyone is focusing on the free money to be had from the stock market. When you think about it the primary way monetary policy helps economies get out of a recession is by giving everyone employment. QE causes massive asset appreciation. In other words it is keynesian gold digging except you are not compensated by how much work you are doing, no, you are compensated based on how many financial assets you already own. That's incredibly backwards because the entire reasoning behind hacks like keynesian gold digging is to give the poorest parts of society money so that they can spend it and revitalize the economy. Poor people don't own lots of Bitcoin or Tesla stocks or whatever else is exploding in price so they never benefit in the first place. However, those who are on the margin with barely enough savings to put into assets will see 3x or even 10x gains and might even decide that this is a better way to spend their time instead of doing productive work. I have seen people yolo their student loans into GME with this exact reasoning. They do it because they believe they won't have to finish college if they make it.

samvher 6y ago

Where are these thousands of % returns coming out of, if not out of thin air?

RichardHeart 6y ago
People switching their value storage from a crappier system to a superior system. It's all just an analog for the stuff that actually matters, which is goods and services.

imtringued 6y ago

Thank you for bringing up the Cantillon effect it is a concise way of describing how QE drives inequality by giving money to the wrong people first. The problem is that now everyone is focusing on the free money to be had from the stock market. When you think about it the primary way monetary policy helps economies get out of a recession is by giving everyone employment. QE causes massive asset appreciation. In other words it is keynesian gold digging except you are not compensated by how much work you are doing, no, you are compensated based on how many financial assets you already own. That's incredibly backwards because the entire reasoning behind hacks like keynesian gold digging is to give the poorest parts of society money so that they can spend it and revitalize the economy. Poor people don't own lots of Bitcoin or Tesla stocks or whatever else is exploding in price so they never benefit in the first place. However, those who are on the margin with barely enough savings to put into assets will see 3x or even 10x gains and might even decide that this is a better way to spend their time instead of doing productive work. I have seen people yolo their student loans into GME with this exact reasoning. They do it because they believe they won't have to finish college if they make it.