{"id":495,"date":"2025-04-21T12:00:00","date_gmt":"2025-04-21T12:00:00","guid":{"rendered":"https:\/\/poderemercado.com.br\/?p=495"},"modified":"2025-04-21T23:47:43","modified_gmt":"2025-04-21T23:47:43","slug":"quem-ganha-e-quem-perde-quando-o-governo-imprime-dinheiro","status":"publish","type":"post","link":"https:\/\/poderemercado.com.br\/en\/quem-ganha-e-quem-perde-quando-o-governo-imprime-dinheiro\/","title":{"rendered":"Who Wins and Who Loses When the Government Prints Money?"},"content":{"rendered":"

When the state prints money\u2014or more precisely, when it artificially expands the monetary base\u2014it is not just messing with numbers. It is redistributing purchasing power<\/strong>, changing incentives<\/strong> and creating deep moral and economic distortions<\/strong>.<\/p>\n\n\n\n

Most people believe that printing money \u201chelps the economy.\u201d What they don\u2019t realize is that this process benefits some groups \u2014 always those closest to power<\/strong> \u2014 at the expense of everyone else.
And worse: without those affected knowing that they are being harmed.<\/strong><\/p>\n\n\n\n

\n\n\n\n

\ud83d\udcc9 The Cantillon Effect \u2014 The Secret to New Money<\/h3>\n\n\n\n

The Irish Economist Richard Cantillon<\/strong>, in the 18th century, was one of the first to identify what is now called the \u201cCantillon effect\u201d. He observed that the new money created does not reach the market in a uniform manner<\/strong>.<\/p>\n\n\n\n

Whoever gets this money first has a huge advantage:<\/p>\n\n\n\n

    \n
  • Purchase assets, land and services at still old prices<\/strong>.<\/li>\n\n\n\n
  • Invest, profit, speculate.<\/li>\n\n\n\n
  • Meanwhile, the rest of the population haven't seen a penny of the new money yet<\/strong>, but already feels the increase in prices.<\/li>\n<\/ul>\n\n\n\n

    In other words: Inflation is not just an economic phenomenon \u2014 it is a mechanism for redistributing wealth.<\/strong><\/p>\n\n\n\n

    \n\n\n\n

    \ud83c\udfe6 First in line: who benefits from inflation?<\/h3>\n\n\n\n
      \n
    1. The government<\/strong>\n
        \n
      • He is the first and main beneficiary.<\/li>\n\n\n\n
      • You can spend more without increasing visible taxes<\/strong>.<\/li>\n\n\n\n
      • Financing works, expanding subsidies, creating programs \u2014 all with money that he himself creates.<\/li>\n\n\n\n
      • And the people still applaud, without realizing that they are being robbed in silence.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
      • Banks and the financial system<\/strong>\n
          \n
        • With the system of fractional reserves<\/strong>, commercial banks multiply the money they receive.<\/li>\n\n\n\n
        • When the Central Bank injects liquidity, banks profit from abundant credit and low nominal interest rates.<\/li>\n\n\n\n
        • It's the magic of money from thin air \u2014 but with very real profits.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
        • Large companies connected to the State<\/strong>\n
            \n
          • Construction companies, multinationals, lobby groups.<\/li>\n\n\n\n
          • Access to cheap credit, public contracts and incentives that small and medium-sized businesses will never see.<\/li>\n\n\n\n
          • A risk-free, state-fed capitalism \u2014 the real deal crony capitalism<\/strong>.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
          • Subsidized and \u201csocial\u201d sectors<\/strong>\n
              \n
            • NGOs, foundations, public universities, state-owned companies.<\/li>\n\n\n\n
            • They survive on the vicious cycle of issuance and public spending \u2014 and often lobby for more inflation, in the name of \u201cinclusion.\u201d<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n\n\n\n
              \n\n\n\n

              \ud83e\uddf1 Last in line: who loses from inflation?<\/h3>\n\n\n\n
                \n
              1. The salaried worker<\/strong>\n
                  \n
                • You see your salary lose purchasing power month after month.<\/li>\n\n\n\n
                • You can't get a real adjustment.<\/li>\n\n\n\n
                • Work more, live worse.<\/li>\n\n\n\n
                • And he is still accused of \u201cnot collaborating with the economy\u201d.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
                • The small entrepreneur<\/strong>\n
                    \n
                  • Does not have access to cheap credit.<\/li>\n\n\n\n
                  • Buys more expensive inputs, but is unable to pass them on to the consumer.<\/li>\n\n\n\n
                  • Unequal competition with large companies that live off subsidies.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
                  • The Retiree and the Conservative Saver<\/strong>\n
                      \n
                    • Your income is fixed \u2014 and undervalued.<\/li>\n\n\n\n
                    • Whoever saved money is punished.<\/li>\n\n\n\n
                    • Whoever got into debt is rewarded.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
                    • Youth and the future<\/strong>\n
                        \n
                      • Inflation destroys the basis of national savings.<\/li>\n\n\n\n
                      • Without capital, there is no investment, no sustainable growth.<\/li>\n\n\n\n
                      • The result is a stagnant economy, addicted to monetary expansion and debt.<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n\n\n\n
                        \n\n\n\n

                        \ud83c\udfad The illusion of growth<\/h3>\n\n\n\n

                        Governments that print money say they are \u201cheating up the economy.\u201d
                        But it's not about growth. It's about a bubble fueled by political power<\/strong>.<\/p>\n\n\n\n

                        When money is created out of thin air, prices no longer reflect the reality of costs, scarcity, and productivity.
                        The market loses its coordinating function. Distortion replaces information.<\/strong>
                        And in the end, as Rothbard said:<\/p>\n\n\n\n

                        \n

                        \u201cAll inflation ends in recession, stagnation or collapse.\u201d<\/p>\n<\/blockquote>\n\n\n\n

                        \n\n\n\n

                        \ud83d\udd12 Why does the State love inflation?<\/h3>\n\n\n\n

                        Because she hide the tax<\/strong>.<\/p>\n\n\n\n

                          \n
                        • The government does not need to send bills.<\/li>\n\n\n\n
                        • There is no vote.<\/li>\n\n\n\n
                        • There is no resistance.<\/li>\n\n\n\n
                        • There is only loss \u2014 constant, silent and invisible.<\/li>\n<\/ul>\n\n\n\n

                          And the most tragic: the people do not always blame the real person responsible<\/strong>.
                          Blame the market, the businessman, the supermarket.
                          And it calls for more state intervention \u2014 which will only make the problem worse.<\/p>\n\n\n\n

                          \n\n\n\n

                          \ud83e\udded Conclusion<\/h3>\n\n\n\n

                          Printing money is more than \u201cmonetary policy.\u201d
                          It is a power project<\/strong>.<\/p>\n\n\n\n

                          By controlling the currency, the State controls the economy.
                          And by controlling the economy, it controls you.<\/p>\n\n\n\n

                          Therefore, understand Who wins and who loses with inflation?<\/strong> is the first step to breaking this cycle.
                          Economic freedom begins where the state monopoly of money ends.<\/p>\n\n\n\n

                          \ud83d\udcb8 Do you feel like your money is worth less every month?<\/strong>
                          It's not printing \u2014 it's monetary expansion.
                          \ud83d\udc49 Discover how printing money destroys your purchasing power.
                          \ud83d\udce9 Subscribe to the newsletter Economic Radar<\/em> and receive critical analysis directly to your email.<\/p>","protected":false},"excerpt":{"rendered":"

                          Este segundo post da s\u00e9rie \u201cO Que \u00c9 Imprimir Dinheiro?\u201d desmonta a ideia de que a emiss\u00e3o de moeda beneficia todos igualmente. Explica o efeito Cantillon, identifica os grupos que se beneficiam da infla\u00e7\u00e3o e exp\u00f5e a l\u00f3gica perversa que transforma a cria\u00e7\u00e3o monet\u00e1ria em arma de redistribui\u00e7\u00e3o oculta e favorecimento estatal.<\/p>","protected":false},"author":1,"featured_media":497,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAow55rbCw:productID":"","footnotes":""},"categories":[68,363,158],"tags":[284,365,360,358,364,73,98,366,362,166],"class_list":["post-495","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economia-e-politica-monetaria","category-o-que-e-imprimir-dinheiro","category-series-speciais","tag-capitalismo-de-compadrio","tag-desigualdade","tag-efeito-cantillon","tag-emissao-monetaria","tag-governo-e-moeda","tag-inflacao","tag-liberdade-economica","tag-redistribuicao-forcada","tag-reservas-fracionarias","tag-rothbard"],"_links":{"self":[{"href":"https:\/\/poderemercado.com.br\/en\/wp-json\/wp\/v2\/posts\/495","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/poderemercado.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/poderemercado.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/poderemercado.com.br\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/poderemercado.com.br\/en\/wp-json\/wp\/v2\/comments?post=495"}],"version-history":[{"count":0,"href":"https:\/\/poderemercado.com.br\/en\/wp-json\/wp\/v2\/posts\/495\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/poderemercado.com.br\/en\/wp-json\/wp\/v2\/media\/497"}],"wp:attachment":[{"href":"https:\/\/poderemercado.com.br\/en\/wp-json\/wp\/v2\/media?parent=495"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/poderemercado.com.br\/en\/wp-json\/wp\/v2\/categories?post=495"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/poderemercado.com.br\/en\/wp-json\/wp\/v2\/tags?post=495"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}