So basically, if the Fed wasn’t printing money the rich’s wealth would have far greater intrinsic value, and they could be content with hoarding cash or making less risky investments, because there is little to no inflation to fight against.

But because of all the money printing, they have to run in place just to stand still, so they funnel their money into assets like stocks, which the general public also invests in and gets a benefit from the rising stock price. Meanwhile, the actual day to day items that the general public relies on to live that are tracked by the CPI are mostly unaffected by this.

Brilliant!