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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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.
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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Yeah but for many of them, the USD is the reserve for their currency, so their currency and the reserve currency would experience the effects. Would that be a double whammy?
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They can add Cantillon effects and other pathologies on top of those in the reserve currency.
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