Money Printing (bad)

Privatizing profits

• Those closest to the money printer profit exclusively by extracting purchasing power from savers. Saving from these savers were all profits gained from voluntary cooperation.

Socializing losses

• As a result of this bad spending (necessarily so, all taxation, coercive wealth extraction is strictly a misallocation of resources), the ones further away from the money printer incur the losses
  Things become more expensive —> People need to sacrifice more —> Work harder etc
  All to reestablish their footing