Who Benefits from Inflation? | Thomas J. DiLorenzo 

Seeing Tom as president makes me feel really optimistic about the future of the Institute.

“The establishment of a central banking monopoly is 90% of communizing a country” - Lenin

Man I love this dude. Calls it like it is. Plain English. Some humor.

The main benefit of inflation: we continue to print money, maintaining our position, while you become poorer every day.

I love Dr. DiLorenzo so much. What a wonderful man at the helm of the Mises Institute.

Enemies are good because then you can prop yourself up through the opposition. Everyone needs enemies in order to get support.

"For this essential acceptance [consent of the majority], the majority must be persuaded by ideology that their government is good, wise and, at least, inevitable, and certainly better than other conceivable alternatives. Promoting this ideology among the people is the vital social task of the “intellectuals.” For the masses of men do not create their own ideas, or indeed think through these ideas independently; they follow passively the ideas adopted and disseminated by the body of intellectuals. The intellectuals are, therefore, the “opinion-molders” in society. And since it is precisely a molding of opinion that the State most desperately needs, the basis for age-old alliance between the State and the intellectuals becomes clear." Anatomy of the State, Murray Rothbard. These supposed higher centers of learning in the world are indeed about learning, not education. It is all in the indoctrination to a much higher degree than just high school. It is all about sending parrots to institutions so they can squawk louder and longer but they don't know shit about shinola. College graduates that know nothing about education nor the world around them.

Love it! Concise and full of substance

There’s an excellent book that covers this subject. It’s called “Death by Socialism” by J. M. Rock. I just read the e-book and I highly recommend it.

Everyone accepts fed can print money but doesn't want to give up the idea that government runs on taxpayers' dollars. This is year 4 thinking skills.

The better question is what group runs the banks and the government that colludes with the FED? Why is usury the preferred “strategy” of the West?

I’ve read Dr. DiLorenzo’s The Real Lincoln, Lincoln Unmasked and just cracked the covers on The Problem with Lincoln. On page 26 under the sub-heading Lincoln and the Cause of War, it details his first inaugural on March 4, 1861, 163 years ago today. I don’t feel like celebrating.

I get learn a great deal from Prof. DiLorenzo's talks.

The take on Paul Samuelson really crackled me (<a href="#" class="seekto" data-time="664">11:04</a>). It's amazing how a Nobel Prize winner in Economics could say something laughable and stupid and codified it in an Economics textbook to be taught in universities, even the Ivy Leagues. On top of that, Samuelson is graduate school professor in Economics at MIT. Imagine what kind of economists, with twisted & distorted view on economic realities were produced, FED (pun not intended) with Samuelson's flaky textbook.

Thank you

Tom, please post more often :)

Wonderful Wonderful

DiLorenzo's talks are good stuff.

Tom mentioned the movie "The Big Short" the lingering question at the end of the big short and they ask it like 5 times is how are the accountants allowed to keep these banks running when all their assets are garbage? At the end of this video, Tom says the list of things the federal reserve regulates, and wouldn't you know it, I heard "financial reporting procedures and accounting". The fed is allowing this creative accounting today as well as long as they don't go illiquid like the california banksk

The deeply indebted and those who have contracts to pay out denominated in U.S.D. are those who benefit from inflation.

LOL. Great humor and content!

🤨IT'S A RACKET🤨 🤣Finding humor in Knowledge! Will Share! 📜TRUST NO man [IT'S BIBLICAL]

I'm convinced. I wanna work for the Fed!

<a href="#" class="seekto" data-time="12">00:12</a> Jim Bennett's quote about being ahead of those who are nipping at your heels suggests staying ahead of competition. <a href="#" class="seekto" data-time="83">01:23</a> Tucker Carlson's experience in Moscow highlights how perceptions of cost differ between countries, impacting one's perspective on economic issues. <a href="#" class="seekto" data-time="140">02:20</a> The speaker considers writing a book on who benefits from inflation, highlighting a lack of understanding among the general population. <a href="#" class="seekto" data-time="235">03:55</a> Debtors, including the federal government, benefit from inflation due to reduced real value of debt. <a href="#" class="seekto" data-time="257">04:17</a> The Federal Reserve's history includes financing bailouts, reflecting a pattern of intervention in the economy. <a href="#" class="seekto" data-time="412">06:52</a> Bailouts create a system similar to economic fascism, where losses are socialized while profits remain private. <a href="#" class="seekto" data-time="618">10:18</a> Inflation and economic instability benefit the welfare bureaucracy by increasing demand for welfare. <a href="#" class="seekto" data-time="721">12:01</a> Political business cycles suggest that Fed policies can be influenced by electoral concerns, affecting economic stability. <a href="#" class="seekto" data-time="960">16:00</a> Fed spending on itself is linked to changes in the money supply, indicating self-perpetuating inflationary incentives. <a href="#" class="seekto" data-time="1256">20:56</a> The Fed influences monetary policy literature, controlling the narrative on monetary policy through subsidized research. <a href="#" class="seekto" data-time="1304">21:44</a> Fed's funding and influence extend to supporting woke ideologies, highlighting broader societal impacts beyond economic policy.

Great talk, I was looking for the $163,800 Janitor salary figure to cite in my own work but can't seem to find it in the source. Please could someone provide reference to it? Thanks

You are poorer because you rely on cash. People who bought assets don't care. They profited so much that they don't even check the prices of goods. You don't have to be a 1% to live without fear of inflation. You just got to make right choices, that's life.

Tom is the drug 4 me !

"if you want to know what is really going on at an organization, ask the janitor" was a saying that I've heard more than once. An observant janitor will likely come across some interesting memos that have been discarded in the waste paper baskets, and likely overhear the gossip at the water cooler. If you want to ensure that the janitor doesn't leak his store of insider info, pay him/her well, I guess. That explains the 6 figure salary of the Fed's janitor.

What you folks need to realize is that banks do not loan dollars.That would be illegal.

The answer is Abraham Lincoln

Burn down the federal reserve

<a href="#" class="seekto" data-time="990">16:30</a> AJ Shaw mentions Samuelson's book on @amitvarma podcast

I would like to hear him do a video criticizing Obama, Trump, and Biden on inflation.

The FED lowered its inflation objective to less than 2% in 2012. They changed the target to a long-term average of 2% inflation. Because long-term interest rates are set at inflation plus a profit margin, the implication is lower interest rates. I consider the current rising interest rate to be a very serious issue it will cause more investors to withdraw from the market. But then despite the severe bear market, I am aware of certain investors that continue to earn over $365,000. Wish I could accomplish that.

I haven’t watched till the end so he may mention this later on, but the reason the price of the purchase was 100 instead of 400 is because “socialism” subsidises basic needs (including food) to keep the lower class hooked.

100% Factual

Who benefits from inflation? Thomas J diLorenzo! Says so right in the title. Cushy job at a prestigious institutite. Gets to give lectures and write books! J'accuse! For the dense, slow, or bad at humour: that was a joke. Love ya Tom!

@<a href="#" class="seekto" data-time="1297">21:37</a> "...no criticisms of the FED..." Yeah, I took a business class back in 2005 and when Greenspan's name came up the teacher said:"ISN'T HE WONDERFUL!" IMHO

I don't think they all conspired: they did not understand what was happening. Never attribute motive when it is usually incomptence

Can’t the FedResBank be outlawed?!?

The banks and employers of course

Austrians, correct me if I'm wrong, but I think the Fed is being short sighted. If they really took a long term approach, NO one, not even them, benefit from inflation. As no one benefits from any plunder, in the long run. Plunder discourages production and is ultimately self-defeating. It is only short-sightedness OR a desire to purposefully crash everything to the ground that can motivate people to plunder - inflation or otherwise. I believe this is what Bastiat talks about in Economic Harmonies or as Ayn Rand puts it "there are no conflicts of interest between rational men."

The question is when will this all end? Can it go on forever?

the very fact that this is not spoken about in college, not even attending economy classes, is notable.

Imagine an Ayn Rand Presidential debate with Hillary Clinton🤔

Rich people in bad times will only increase their gap over middle class and poor people. When the economy is good, like in 2016-2020, everyone benefits and the gap has a chance of narrowing.

SO, i get that the Fed has flaws and the critics exposed by DiLorenzo are justified, but what is the alternative for the economy? What does he propose to make things better? That's what I'd like to hear from him. Solutions. Are there any ways to fix all that?

not 5.9999m but according to the Croix Rouge Int. it was .275m mainly from typhus and malnutrition, in any case it would have needed 180m gallons of fue and taken 43 years to deal with 5.9999m with 6 burn34w.. also.. head of al Shiffa hospital orthopaedic surgey has DIED after 120 days of TORTURE.

Inflation boosts Sales Tax........and this is what is disingenuous about Gov . Policy. Gov. Can't institute Taz Moratorium (s) ....( As clearly it's THIER ..........fault ) (⁉️)

When Fed exists so many years, and damage is already done, they will "End the Fed".. We living in the comedy movie.

Who benefits for Userry....humm...the J... Do not give them ideas anarchist but not communsit party

The question is not the correct one. The correct one question is "who is benefiting from money printing?" (Money printing under various names).

When fiat starts to really decline....

Q Bible Debt forgiveness every 7 years Year of jubilee 49th to 50th year Return of all property to all who had to forfeit it due to debts Slaves had to be also set free! Q ❤

Everyone who should know better sat back and watched as this happened and did nothing,now they same billionaires are coming back to haunt us

maybe would be more wiser to explain in details how inflation ruin us. A lot of people how no idea how to understand this topic.

Government…..

actually, it's much worse than that

I can only buy bonds or stocks or crypto for an amount I have, If they tank thats it. If I could have unlimited money and tries I'd be rich forever. Kind of upsetting. Treasonous. Not hyperbole, treasonous. Swing the pirates

Very interesting how he presents only one seemingly beneficial from Inflation. What do you expect? The FED is still private and full of greedy rich politicians and bankers. But what about the more obvious beneficiaries of inflation?? Big private bank and concern leaders, profiting from high interest rates on their bonds, profiting from high prices to at least keep their margin stable, increasing profits all over the place? You talk about 180Grand salaries in the FED? What about 10s of millions in the private sector??. FED surely plays to their own benefits, but they are not the major problem or beneficiary!

Are government is worth less!!!!!!!!!!

Some facts and lots of opinion.

Capitalists. You're all welcome.

Force the wisest hardest working disciplined, determined visionary creators of the actual products that raise the standards of living for all of the humans, to have to give their $ away to the worlds over breeding societies, will take away their incentives to keep on creating the newest and best products that benefits all of the people in society. Also it doesn't force the excuse makers to have to learn how to take the responsibility for not planning their own citizens futures more wisely. if you knew how hard it is to feed them. Then why did you keep on planning to breed them??????? Starvation is one hell of a motivator!!!!!!!!!

Thomas may know something about economics, his comment about Ukraine was ignorant

I stopped at Tucker "quote" 😂 Bye!

Political theater

Oh this is great, correcting the professor. Inflation is not expansion of the money supply. Inflation is expansion of the money supply faster than the expansion of goods.

Buy gold and silver. That’s real money. USD or fiat money is backed by nothing.

who benefits from inflation? well, if you have a debt, with inflation it will became more affordable to pay. Usually goverment have huge debts, so they benefit from that.

DiLorenzo uses the example of the crash of 2008. I'll just remind everyone that if the Fed had not bailed anyone out, the whole financial system of the USA would have failed. Talk about ruinous for capitalism. I should state clearly that I was not in favour of the bailouts either. On the other hand, I understood why they were necessary. They were necessary because loosened regulations on the financial services industry allowed them to take on some incredible risks that ultimately led to the crash. Alan Greenspan said at the time they all thought the market would be self-regulating, and that risk analysis would prevent what happened from happening. Well, it didn't, and the financial system around the world was shaken to it's knees.

Yep as soon as you have banks that can write contracts to hold gold and issue paper money to both the owner and the borrower you have the magic of creating more paper money in value circulation than actually gold in money. The first printing of money to pay for war in the US was for the civil war. Who gains when inflation occurs? The owners of private property. The value of their property rises. A large part of capitalism is nothing more than the slight of hand played with numbers.

New idea: be very careful how you use the word "inflation". It turns out there's a number of conflicting definitions circulating! It's a politically contested term, as are a number of the political terms in this talk. If you want to communicate effectively with a general audience, you're going to have to clarify your language, and using these terms usually accomplishes the opposite. The rise in personal costs to housing, healthcare, education, childcare, groceries and essentials is not the kind of inflation this gentleman is talking about. He's talking about an increase in the quantity in money, (we'll call this monetary inflation) which translates to higher personal costs in an indirect manner. This translation from monetary inflation to personal inflation depends on economic relationships those persons are engaging in. There's lots of ways to use monetary inflation money, with many different effects. I prefer not to think of the economy in a top down, idealized manner that is presented here. I prefer introducing different perspectives to spice up the conversation!

Da Djewz

The average person absolutely benefits from inflation. The average person’s balance sheet is made up a large amount of fixed nominal liabilities, and somewhat larger amount of assets, largely real (home, cars, household goods, and stock funds) with a small amount being bonds and nominal savings. This type of balance sheets benefit hugely from inflation and get rocked from deflation. As far as their income statements, these are usually renegotiated annually in the case of salary, and daily in the case of many life expenses. This leaves the income statement more malleable to inflation realities, as labor is also a “real resource” and can benefit (nominally) from inflation.

Look up Fed employees. What he says isn't true.

Generally agree with him, but his “facts” on Wall Street bailouts are incorrect. The government didn’t eat the loses. The companies paid loans back with interest.

❗The beneficiary is the bourgeoisie. As long as there is private property that is concentrated in the hands of the bourgeoisie, there will be no democracy, but there will be a plutocracy. Do not confuse plutocracy and democracy. Socialism or barbarism!

fed scam

Duh. Who benefits? Corporations. They adjust immediately. The average person. Stuck trying to keep up. Cant just "do it" like business.

I'm going to be honest with you all. No one has a definitive and macro AHA moment regarding economics. No one. Not even this guy. He has merely tapped into a set of ideas that supports his own background in education and 'experience'. The 'synergy' of this confluence ideas has manifested for a time. And has timely presented a hill for him to stand on. But it's all still ephemeral. A fire and fury that could still be entirely baseless and not firmly rooted in reality.

Attacking his own ruling class. Naturally when prices rise faster than wages for property property owners benefit.

Good ideas, but poorly organized as a presentation.

And yet our ancestors suffered from mass poverty & starvation back when they used gold & silver for money.

Very poor speaker. Bye bye.

This guy cant speak properly