Always when new money is produced, there is a redistribution in favor of those who receive the new money and spend it at the old, still low prices and to the detriment of those who receive the new money later and see prices rise faster than their income.
Fiat money wrecks the culture in many ways. By creating near-permanent price inflation, the value of both your earnings and savings are reduced, thus nudging you into a short-term perspective.
Sustainable growth is funded by savings. Unsustainable growth results from the Fed simply injecting money out of thin air. There is no paradox of saving!
The "consumerism" narrative turns buyers into victims. In turn, such a narrative feeds into a sociopathic worldview because it is very important to sociopaths to believe that they are victims. An identity which the people studied were also overly eager to embrace.
Many American families are having trouble making ends meet. It’s no surprise given the value of the dollar has fallen 95% since the Federal Reserve was created. The other big losers those on fixed incomes like the elderly and poor.
Governments have of necessity been experts in the art of stealing. Inflation (counterfeiting) is their highest art form because it's so insidious.
The fiat money system, the creation of money through circulation credit expansion, has brought about a new kind of debt slavery on a grand scale.
Central banks’ monetary policies are the most perverse government intervention. Their consequences are dire, last for a very long time, and people don’t perceive them as problems or don’t comprehend the damage they are doing.
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