Central banks printed over $25 trillion through QE programs that were sold as helping Main Street but primarily inflated asset prices held by the wealthy. A Bank of England study found 40% of QE gains went to the top 5% of British households. The ECB found QE primarily benefited the richest 20%. Stanley Druckenmiller called it 'the biggest redistribution of wealth from the middle class and poor to the rich ever.' U.S. billionaire wealth grew by $1.3 trillion during 2020 QE while 22 million lost jobs.
Quantitative Easing was the largest upward wealth transfer in history -- 40% of gains went to the top 5%
“Quantitative easing is not stimulus for the economy -- it is a wealth transfer mechanism from the poor and middle class to the rich, accomplished through inflating asset prices that only the wealthy own.”
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