On 1/2/2013 12:05 PM, Daniel Pitts wrote:

The new printed money devalues existing money. This is called inflation.
At a base level, inflation is good for debt holders as it decreases the
magnitude of their debt. It is bad for savers, and it decreases the
magnitude of their assets. It is also bad for the working class,
because wages don't typically increase along side it, and they are
usually in debt with an interest rate far higher than inflation.

It's also good for the government because the inflation and the
subsequent wage adjustments put more people into higher progessive
income tax brackets and the gov. can collect capital gains taxes on
transactions where the gains are purely due to inflation.