The road to socialism via inflation:
• Print money, crash the reserve currency, destroy savers, and force them into inflated assets.
• Asset inflation leads to inequality. Demonize asset holders and tax the nominal gains, thereby confiscating the real value of the assets.
[1] https://twitter.com/naval/status/1359650086221930496?s=21
Why would the ruling class (which his tweet presupposes is corrupt), who benefit from this status quo, purposefully destroy the systems that make them rich? It just doesn't make sense, the logic implies that a corrupt ruling class would purposefully destroy the systems that allow them to be corrupt in order to achieve "socialism" (which Naval clearly implies is somehow innately corrupt here). Why would they destroy what they benefit from on purpose?
Ruling classes benefit from stability, if people are not starving and live generally decent/free lives they won't search above for answers or be inclined to upheaval.
> destroy savers, and force them into inflated assets.
I don't understand this part, isn't it a broad consensus in the US that savings should not be in cash but instead in a diverse set of assets and bonds? How does inflating assets destroy savers in this case? Every time I hear advice on saving in the US it's basically (take anything above emergency fund savings and invest it in ETFs/index funds/bonds)