Beneficiários e Perdedores

... do processo de expansão de crédito via criação monetária

"Let us, for instance, suppose that a new gold mine is opened in an isolated state. The supplementary quantity of gold that streams from it into commerce goes at first to the owners of the mine and then by turns to those who have dealings with them. If we schematically divide the whole community into four groups, the mine owners, the producers of luxury goods, the remaining producers, and the agriculturalists, the first two groups will be able to enjoy the benefits resulting from the reduction in the value of money the former of them to a greater extent than the latter. But even as soon as we reach the third group, the situation is altered. The profit obtained by this group as a result of the increased demands of the first two will already be offset to some extent by the rise in the prices of luxury goods which will have experienced the full effect of the depreciation by the time it begins to affect other goods. Finally for the fourth group, the whole process will result in nothing but loss. The farmers will have to pay dearer for all industrial products before they are compensated by the increased prices of agricultural products. It is true that when at last the prices of agricultural products do rise, the period of economic hardship for the farmers is over; but it will no longer be possible for them to secure profits that will compensate them for the losses they have suffered. That is to say, they will not be able to use their increased receipts to purchase commodities at prices corresponding to the old level of the value of money; for the increase of prices will already have gone through the whole community. Thus the losses suffered by the farmers at the time when they still sold their products at the old low prices but had to pay for the products of others at the new and higher prices remain uncompensated. It is these losses of the groups that are the last to be reached by the variation in the value of money which ultimately constitute the source of the profits made by the mine owners and the groups most closely connected with them (pp. 208-9)."

http: //www.econlib.org/library/Mises/msT4.html

O exemplo é dado com a expansão ocorrida naturalmente pela abertura de uma nova mina de ouro. Só falta adaptar ao actual sistema monetário. O crédito é criado pelo sistema bancário e os grandes (primeiros) receptores são as grandes empresas suas clientes.

Adenda: A esquerda honesta e sincera muitas vezes tem instintos correctos mas sem saberem bem identificar o problema e atirando muitas vezes ao lado. A natural desconfiança e sensação de perda dos agricultores em relação aos Bancos, depois repetida já de forma ideológica pela Esquerda, tem na verdade algumas bases reais. Já a direita (digamos liberal) comete por vezes o erro de achar que não existe problema algum, como se fossem as regras "eficientes" do capitalismo. O efeito redistributivo de um sistema intervencionado não é mencionado quase nunca.