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And what would you call the US dollar's monetary expansion of over 40% [1] since the start of the pandemic, if not stealing? The Cantillon Effect has never bee
by bradwood 5y ago
And what would you call the US dollar's monetary expansion of over 40% [1] since the start of the pandemic, if not stealing?
The Cantillon Effect has never been stronger, but those that continue to measure their financial worth in a unit of account that is shrinking in its purchasing power every day are missing the point. The system _is_ stealing your savings!
[1]: https://fred.stlouisfed.org/series/M1SL https://fred.stlouisfed.org/series/M1SL
- ethanbond 5y agoLet’s not act like the infusions were for no reason. Many people are willing to incur some inflation and inflation risk in a gamble to avert a near-certain societal level catastrophe.
- bradwood 5y agoand which people were those? rich people, that's who... I agree that desperate times call for desperate measures, but there are fairer ways to fund this. Just inflating the money supply just hits asset-poor people hardest... this is the very definition of the Cantillon Effect...