As long as we have a central bank the rich will get richer, and the poor will get inflation. With the Fed eyeing a repeat of the 2022 inflation, America’s rich should get ready for another big payday. And everybody else can get ready for the fallout.
The rich are getting richer, the poor are getting poorer, and it's all thanks to the Federal Reserve.
Why did it go to financial markets? Because that's how the Fed prints money.
So-called Quantitative Easing is buying assets direct, but most of the new money is actually created by banks, who literally conjure money into existence when they make a loan.
The end result is new money goes, first, to financial markets and rich people via bank loans.
So the rich guy got his money first, then each person down the line gets their money progressively inflated away.
Yes, as long as we have a central bank the rich will get richer, and the poor will get inflation.
With the Fed eyeing a repeat of the 2022 inflation, America's rich should get ready for another big payday.
https://brownstone.org/articles/the-rich-get-richer-thank-the-fed/
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