by Charles Hugh Smith
Of Two Minds
Asset inflation benefits the super-rich more than anyone else because they own the vast majority of these assets.
With the reflation euphoria running full blast, maybe central banks will finally get all that inflation they’ve been pining for. So let’s ask cui bono–who will benefit from inflation?
The Super-Rich love inflation and the money-printing that generates it. Longtime correspondent Michael M. explains the dynamic behind billionaires’ adoration of inflation:
“Why does a game of Monopoly work? Because there is a zero-boundary for every player’s net worth.
If you were given endless credit (so negative net worth is allowed without limit), the game becomes pointless.
Is there also an upper bound at Monopoly?