Do you look at what the Fed actually spends their printed money on? Almost all of it is financial contracts which simply yield them their money back, which if d

Do you look at what the Fed actually spends their printed money on? Almost all of it is financial contracts which simply yield them their money back, which if defaulted on, have no repercussions on them since they own a money printer that makes what the contracts yield in the first place. So to say they're benefiting in some way by printing and spending money on such things, is kind of like saying, a car manufacturer benefits when they manufacture a car, lend it out for someone to use, simply in exchange for getting their car back in the future. I mean I guess, but not really since they could also save themselves some hassle, by manufacturing themselves the thing and not lending it out in the first place? But sure, the people at the Fed also pay themselves a nice wage which they spend in exchange for personal goods and services and to live and stuff, but to the extent they do is not anything like you think it is. Heck, there are people elsewhere which make more money. And considering it takes work to manufacture dollars, and lend it to other in need of having some stable metric to do trade with, do they not deserve a wage in exchange for the work involved for doing such a service? > Inflation benefits people who have borrowed money at fixed rates Agreed, such as everyone who has borrowed money from the Fed, and almost all money is borrowed from the Fed. (Now do you see why they might push the argument that inflation is good for the economy?) > Owning assets does not inure one against inflation, because one gets to pay capital gains tax on the inflated value of the asset The problem with this argument, is twofold. One is in assuming taxes completely negate gains on capital. Obviously taxes are a drag on gains, but it is a fractional amount of the gains. Meaning, you still make some gains. So in this sense, it still does insure you from inflation, just not completely. But the second and real issue, is that you don't have to realize gains and incur taxes to benefit from owning assets during inflation. If you already own and still need, say a truck, and inflation has caused trucks to appreciate in value, you simply benefit from not needing to purchase another truck at now inflated prices.