• turnip@sh.itjust.worksEnglish
    5·
    1 year ago

    Because the rich don’t affect much in our current monetary policy, its the velocity of money that matters rather than the quantity.

    If they start buying out every grocery store then prices rise, interest rates rise, and their asset prices fall.

    Its the central bank that debases your salary though, making it buy less and forcing a wall of debt to gatekeep your housing.

    • explodicle@sh.itjust.worksEnglish
      2·
      1 year ago

      You’re half right… monetary policy is a huge source of inequality, but that’s because congress obeys their rich owners.

      If there was some way to opt out of their monetary policy, then you’d think it would already be catching on. 😉