Under an inflationary monetary scheme, big financial-sector players who get the new money first benefit the most. Ordinary households down the line then bear the brunt of price inflation.
Emerging-market currencies often suffer a as a result of their government's own profligacy. But the US is also actively trying to destabilize some currencies, and setting up a conflict that the US could ultimately lose.
With printing of the Continental notes in 1775, Webster feared people would think you could finance the Revolutionary War by printing paper money. We should have listened!
Ultimately, what matters for the well-being of individuals is not that they are employed as such, but their purchasing power in terms of the goods and services that they earn.
