How Inflation Drinks Your Milkshake

Ludwig von Mises said that, "inflationary policy is the most radical revolutionary institution in the world." Every day it generates new money, the Fed effects an ongoing aristocratic economic revolution, quietly siphoning wealth from the people, like Daniel Plainview with his long milkshake straw, and pumping it into the vats of a privileged elite. Moreover, this makes us all poorer in an indirect fashion as well, by rewarding government beneficiaries at the expense of efficient producers, and by perpetuating the economically destructive business cycle.