I think I would argue inflation benefited those who were wealthy the most in the past. But keep in mind that the increase in asset value was not factored into t

I think I would argue inflation benefited those who were wealthy the most in the past. But keep in mind that the increase in asset value was not factored into that inflation math. So: assets got more expensive because of inflation; net wages went down because of inflation that wasn’t recognized as such; the rich paid the same for labor but benefited from an increase in their asset prices. Bonds were a really bad investment in that respect…