While I am against money creation, I wonder if we should demand that if they want to inflate our money. The new money should be stuffed into all bank accounts in proportion to the balances. Every account holder would have his money inflated but would get to spend his share the new money. While it would cause inflation at least the great power to choose the lucky benefactors of inflation would be denied to the bankers.
That’s the reason the politically connected bankers and politicians will never adopt such a policy. The entire point of monetary inflation from their perspective is to enrich themselves at the expense of the rest of us.
Guido Huelsmann explains it in his book, The Ethics of Money Production.
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