Thinking that printing money creates value is like thinking that blowing up a balloon makes the balloon stronger, because it is bigger.
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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.
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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