Thinking that printing money creates value is like thinking that blowing up a balloon makes the balloon stronger, because it is bigger.
Printing money is like raising the blinds in poker. It makes it impossible to play a slow, tight, high equity strategy, therefore making the game of money fast, loose, and about trickery, metagaming, and psychology. This helps certain types of people and hurts others.
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The economy doesn't stop being skill determinate but the skills in question are now a mix of value creation and marketing/con artistry rather than pure value creation and risk mitigation.
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