Re:Why inflation is not a threat
by jkhdigital on Sunday March 14, 2021 @02:14PM
(#26457383)
Indeed. There is a reason why the ancient Hebrew laws dictated that every 50 years all debts are wiped away and all assets returned to their hereditary owners.
Wealth tends to flow uphill. Even in Communism the politically connected realized that wealth in that system was political capital and learned to position themselves to accumulate it. There is a reason the USSR collapsed and gave way to one of the most aristocratic states in the world.
I don’t discount that site though. A lot more happened in or around the early 70s than just the collapse of Bretton Woods.
I also don’t dismiss your comment as untrue. A fair inflationary currency would almost literally drop money from helicopters, not issue it to banks and governments. Still I imagine over time people would learn how to chase the helicopters.
All systems will be gamed. No exceptions.