You work all your life and you're worth say $1 million. And then, the feds just print up $40,000 million...or more...just like that. They then give it to the people who are close to them...the people they bail out...the people who speculate in stocks...people make campaign contributions...and people who make fighter jets.

This effect - of giving out the new money to the politically-favored groups closest to the feds - was discovered more than 2 centuries ago, by Robert Cantillon. It's known as the 'Cantillon Effect.'

It undermines faith in the whole system, past and present. Suddenly people don't know what they're worth. The auto parts distributor who worked his whole life, saved a million dollars, and put it in a saving account at the bank, now finds his banker neighbors - who speculated on banking shares - are worth twice as much as he is. He looks ahead; he wonders what will happen next.