Inflation is bad for lenders (i.e. bankers) which has always made me wonder how some people can believe simultaneously that the Fed is responsible for rampant inflation and also working at the behest of bankers.
I get it, but they are the counterparty the Fed deals with. If you're analyzing the politics of the situation, then the Fed (caricaturing) gives their banker buddies billions, and then that sparks inflation that hurts everyday people. This may not be true, but it's coherent
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Inflation is only bad for lenders if they are lending their own money. If bankers are perceived as middlemen skimming off Fed funds that are just passing through the bank (like in the current PPP, for example), then there's no tension in believing both things at the same time
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Yeah but then the fed would want to make capital scarce. The conspiracy theory is the fed is debasing curreny at the banker's behest.
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The question at the top of the thread is "how can people believe these two contradictory things at once," and this is my attempt to give an explanation. People's belief system tends to be self-consistent to at least some degree, and I think it helps to try to analyze that.
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