It still undermines Putin a bit, think that’s what the goal is

Do workers simply will iron ore into existence

In terms of costs, yeah, that’s exactly what they do. Someone’s getting money for it, be it the land owner, the workers, the company providing the tech for it. Doesn’t matter, there’s always a person at the end of the cost pipeline.

workers pockets X owner’s profit

In terms of inflation, this just doesn’t help. Workers spend almost everything they get (living paycheck to paycheck), rich people do still spend the money (which means the money ends up in someone elses pocket) and yes, they will spend more than the average worker, but they also invest a big chunk, usually locking up the money, and at least temporarily taking it out of circulation.

Which reduces inflation, that’s the point of high interest rates :)

If I might add, what do you think costs are?

Do you think there’s a box you put cash into and it gives you iron ore back?

Nope, there’s a miner who gets paid to get it out of the ground. The miner uses a pickaxe which costs something, sure, but who do you think made the pickaxe? It was a worker somewhere who got paid to manufacture it.

Money doesn’t disappear, it goes into someone’s pocket eventually, either through wages or through corporate income.

If costs are going up it means that someone somewhere is getting richer, meaning he has more money to spend, meaning things get more expensive.

That’s just straight up not true. Companies like profits, so they’ll keep raising prices as long as people keep paying them. If people don’t have money to spend on shit, they won’t, and thus the prices will have to go down or at worst stagnate.

But sure, keep thinking you understand the issue better than people who have studied everything about the issue and are actually paid for their knowledge.

Yeah let’s carve out a subset and let everyone suffer.

Short term pain for long term gain and stability.

You’re completely missing the point.

We’re talking about the inflation going on now, not whatever decades you’re talking about.

Yeah because ever increasing wages and thus money in circulation fixes inflation.

Workers don’t win if inflation stays high.

I’m sure those 15 tons of cocaine made a nice little fire

How about mirrors?

There are many banks that do not do that - Mellon for example.

But yeah, you’re right, for some reason I imagined them just taking the money out and chilling on a yacht somewhere with it

Do you know that “people holding those seized assets” is actually “people looking at frozen assets with their hands tied behind their backs”?

If anyone could do it, people wouldn’t trust foreign institutions as much and it’d heavily disincentivise investment, which would mean slowing down economy growth.

The same economy you as well are a part of.

They raised prices and left them there because enough people are paying these prices.

Them asking for bailouts because of their prices hikes makes exactly 0 sense btw, if they need to sell more, they’ll just lower them again. The nice thing about margin is that it’s margin - as long as you’re making money, you’re making money, it just depends how much.

Yeah, let’s tell everyone

Oil and gas though