It's pretty simple to understand. If I have a money printing machine, the first people to gain will be my friends. The second group will be my friends' friends

It's pretty simple to understand. If I have a money printing machine, the first people to gain will be my friends. The second group will be my friends' friends. They will go around buying up all the stuff worth having. Pretty soon those items will go up in value. A lot. Anyone outside my circle of friends will quickly find these items very expensive. Boom. Asset Bubbles.