tag:blogger.com,1999:blog-2555123713188257297.post1845421790585301703..comments2023-12-14T21:55:11.213-05:00Comments on Mitchell Langbert's Blog: Peter Schiff: Ben Bernanke = Jack MadoffMitchell Langberthttp://www.blogger.com/profile/00722335216553899790noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-2555123713188257297.post-1177489539986824552009-10-27T12:27:12.836-04:002009-10-27T12:27:12.836-04:00The bulk of the benefit from the monetary creation...The bulk of the benefit from the monetary creation goes to the following:<br /><br />-large, leveraged investors (hedge fund managers, Wall street, real estate)<br />-government<br />-large corporate borrowers<br /><br />Additionally, mortgage holders and small borrowers benefit to a smaller degree. <br /><br />The inflation that the new money causes does not occur at once. Those who get the first dibs on the counterfeit benefit most. Much of the new money has been handed to Wall Street and hedge fund investors such as George Soros. In the late 1980s Long Term Capital Management, an early hedge fund, was lent one trillion dollars, according to Roger Lowenstein in his book "When Genius Failed". These large borrowers, including government but also big business, big real estate, and most of all the financial community have been the chief beneficiaries<br /><br />You will notice that no one tracks the route that borrowing takes. But it is easy to understand conceptually. Those who buy groceries and gasoline pay higher prices. Those who own stock and real estate (or who speculate in currency in the carry trade or buy whole companies or profit from increased speculation and buying and selling) benefit. <br /><br />Government benefits and is the cause, but there has been the creation of a new class of billionaire and hundred -millionaire and above hedge fund owners who have gravitated toward Greenwich Connecticut, Manhattan and North Dakota, who have benefited the most individually.Mitchell Langberthttps://www.blogger.com/profile/00722335216553899790noreply@blogger.comtag:blogger.com,1999:blog-2555123713188257297.post-23904503661759481422009-10-27T09:16:51.782-04:002009-10-27T09:16:51.782-04:00I recently started reading "End the Fed"...I recently started reading "End the Fed" by Ron Paul. He states that, because the value of the dollar has fallen by 95% since the beginning of the Fed, the government has consumed 95% of the wealth produced by this country over the course of the past century. Is this a valid assertion?vakerajhttps://www.blogger.com/profile/02479791534703115315noreply@blogger.com