Balaji Srinivasan

That was how ridiculously dominant the US financial legal system was.

So dollar inflation is global taxation actually inverts the traditional MAGA understanding or the MAGA understanding of the world.

The MAGA understanding of the world is that the world is exploiting Americans.

And there's some truth to this where like you have a few hundred bucks going to people in Maui, for example, when their house is burned down, but billions going to Ukraine.

And the MAGA person does see that.

And there is truth to that.

They're saying we are citizens of America and we're getting no money.

But these foreign wars are getting money.

What's going on?

And so and so forth.

That's true.

What they're not seeing, however, is the more subtle and invisible thing, which is the global taxation where billions of people are being taxed.

by dollar inflation, and Americans as a set are benefiting from that, even if the red American gets it last.

Why do they say Americans as a set?

When the money is printed, blues got it first, because blue banks would get it first.

That's the so-called, that's another key part of it, which is the Cantillon effect, right?

You take these simple principles and you combine them and you get a fairly complicated dynamic, right?

The Cantillon effect says, basically, whoever's closer to the money printer gets it first.

Okay, so for example, visualize them rolling off a bunch of new hundreds.

They don't actually do it like that.