> Every greenback they print makes 90% of us a little poorer, and conversely makes the capital holders richer. Who is "they"? No, really: how do you think "mon

> Every greenback they print makes 90% of us a little poorer, and conversely makes the capital holders richer. Who is "they"? No, really: how do you think "money" is actually created? Because it's not central banks like the Fed that does it: * https://www.bankofengland.co.uk/explainers/how-is-money-created https://www.bankofengland.co.uk/explainers/how-is-money-crea... * https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1905625 https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1905625 Further, inflation helps people in debt because past-dollars-depreciated loan values are paid off with current/future-wage-inflation-adjusted salaries. Also, without inflation the rich could sit on literal cash (Scrouge McDuck style) and have it hold value (or gain value with deflation), which is not a good thing: > No currency should be able to buy the same basket of goods over very long timespans through hoarding. If you want to retain the purchasing power of your money, it should participate in society via investment. * Nick Maggiulli, https://twitter.com/dollarsanddata/status/1592651809750798336 https://twitter.com/dollarsanddata/status/159265180975079833...