[PGR88]

His latest book is, "The Scandal of Money: Why Wall Street Recovers but the Economy Never Does."

The Cantillon Effect, named after 18th century economist Richard Cantillon. Basically, in an easy money or fiat monetary regime, those who first handle the new (printed/created) dollars have a huge advantage and benefit greatly over those who hold "old" money (savers, workers, long-term investors).

So because of the Federal Reserve, insiders benefit, while the rest of us bear the ill effects of massive debt and debased currency. No surprise then that Wall Street and Gov't (and gov't cronies) have profited greatly while they economy has gone nowhere over the last 8 years.

[griswold3]

Thanks.

“The Cantillon Effect”. I will remember that