The Cantillon effect: "the first ones to receive the newly created money see their incomes rise, whereas the last ones to receive the newly created money see their purchasing power decline as consumer price inflation comes about." https://mises.org/library/how-central-banking-increased-inequality … https://en.wikipedia.org/wiki/Richard_Cantillon …
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The discount window is the original ICO presale.
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People often forget how important the mechanisms by which this money gets into the system are.
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Macroeconomics is the art of ignoring the obvious in favor of belaboring the hopelessly speculative with pseudo-scientific math and pseudo-Greek prose. The Cantillion effect is one of the very obvious things that they very artfully ignore.
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Its pretty easy to see who the first to get the money are, but who are the "last ones" to receive the money? My guess is that these people aren't Americans.
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Non-Americans typically have their own currencies with their own Cantillon effects (which are in some cases far worse than the Federal Reserve's).
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Do you find some analogies between Cantillon effect and bitcoin or bcash mining?
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Miners are essential to a POW cryptocurrency, fiat Cantillon effect beneficiaries typically are not. Also miner rewards and fees are explicit and public, Cantillon benefits and penalties are tacit and usually ignored, but not less real for being so.
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#Socialism in#Venezuela has been super efficient at destroying wealth. As usual, the most vulnerable: elderly pensioners, teachers, children have been hit the hardest. Think your fiat currency of choice is safe and you will retire comfortably with your savings? Think again...pic.twitter.com/xrVfajHldH - Još 9 drugih odgovora
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