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Inflation and Re-distribution of wealth

Comments by Steve Saville
"Monetary inflation, despite its popularity as a 'cure-all' during times of economic stress, can't possibly bring about an increase in total wealth. It does, however, cause a re-distribution of wealth because
a) some people figure out what's happening well before others,
b) it benefits the asset-rich at the expense of the asset-poor, and
c) it benefits debtors at the expense of creditors, at least until creditors begin to fully anticipate the effects of the inflation and adjust interest rates accordingly.
Ultimately, inflation leads to wealth destruction because it distorts price signals, causing investment to be misdirected. It is this particular effect of inflation -- the misdirection of investment and the resultant booms/busts."
So which gang do we belong to ???
:) Falkor

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