April 15, 2013

     Who Pays the Price for All the
            Quantitative Easing?

"So now we know we have a slightly better understanding of who pays:  Whoever is furthest away from the newly created money.  And we have a better understanding of how they pay:  through a reduction in their own spending power.

"The problem is that while they will be acutely aware of the reduction in their own spending power, they will be less aware of why their spending power has declined.  So if they find groceries becoming more expensive they blame the retailers for raising prices; if they find petrol unaffordable, they blame the oil

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companies; if they find rents too expensive they blame landlords, and so on.  So now we see the mechanism by which debasing money debases trust.  The unaware victims of this accidental redistribution don't know who the enemy is, so they create an enemy."

The above excerpt is from Dylan Grice's article "Would the Real Peter & Paul Please Stand Up." The full article can be accessed by clicking here.

 

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