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The rich does not hoard fiat, they own assets which go up in price as the money supply increases. Meanwhile the poor has its savings eroded, their paychecks ha
by throwaway248329 5y ago
The rich does not hoard fiat, they own assets which go up in price as the money supply increases.
Meanwhile the poor has its savings eroded, their paychecks have less and less buying power and they are forced to negotiate to get a raise to simply stop becoming poorer.
- brazzy 5y agoIf you have substantial savings, you are not poor. "The poor" generally is in debt. As are states. And that debt in turn forms part of the assets held by the rich.
- throwaway248329 5y agoThe rich are also in debt, because the debt is cheap, especially if you're already rich. So inflation benefits the rich not only by increasing the value of their assets but also by wiping out their debt.