Richard Cantillon

It is in itself theft.

And that is even without getting into the Cantillon effects and who primarily benefits from the insertion or the creation of new money.

So just on a very like superficial surface level, yeah, people are waking up, people who were beating their chest about America first, people who were stalwart opponents to the Democratic Socialists of America are now looking around and saying, wait, there are Republican Socialists of America too.

I was told no more taxes, no more wars, that the price of groceries and gasoline would go down.

Exactly.

And they're literally stealing it out of your wallet.

You mentioned Cantillon effects and what Mises called injection points.

Talk to us a little bit about why it is that if you carry these notes in your wallet and you have a savings account and you're getting a paycheck every week, they're stealing from you and that is a transfer of wealth, to quote our democratic socialist friends, it's a transfer of wealth from have-nots to haves.

But the rest of the world looks at it and they're like, oh, my gosh, only eight to 12 percent.

You guys are doing great.

But if you project that out over decades, it wipes out your purchasing power.

It doesn't matter if it's a low, steady inflation number on an annual basis.

Is it Cantillon or Cantillion effect? I

pronounce it Cantillon.

You know, it was a French guy a long time ago.

Yeah, but the Cantillon effect, which I love this.