Inflation and wealth redistribution

The modern financial system pays special attention and plays a special role in the structure of funding sources to loan capital as it is cheaper and less risky. Such an interpretation made it possible to increase not only capital-intensive industrial production and government spending to support the economy, but also financial markets through the critical debt load of post-industrial economies in the context of not-so-high growth in the world gross domestic product. The gigantic cash flow generated through loan capital and the cost of servicing it sets the task of rethinking the role of loan capital and developing a new approach to the current financial system, its transformation. The reaction of the financial system to the policy of monetary easing, which has intensified in recent years, should have been described by an increase in inflation in correlation with the growth of the money supply, however, according to a number of experts, today's inflation has completely different sources of formation, which exacerbate contradictions between emission centers, industrial capital, world cash flow generation centers (these are not only global financial centers, but also transnational companies), and end consumers. The study aims to describe and assess inflation as a separate element of capital development - inflationary capital - that helps to solve the most acute problem of debt load. At this stage of development, financial systems cannot authorize this capital independently, and this fact cannot be ignored. The methods used in the research are: logical (analysis, synthesis, induction, deduction, analogy), hypothetical, probabilistic-statistical. The main results and conclusions of the research are the following. The analysis of the mobilization of loan capital, which has taken on an alarming scale, forms numerous contradictions not only between forms of ownership, but also between countries. The attempt by the Federal Reserve System to solve this problem through the gradual tightening of the monetary system is seen by many experts as the first step in the global financial crisis. The rising cost of borrowing for the US Treasury Department with every basis point raised means serious financial risks for the global economy. Rising inflation, as a systemic phenomenon of rising costs, only intensifies the efforts of the Federal Reserve System to curb inflation. The counterbalances for leveling the negative excessive use of loan capital cannot be achieved by increasing militarism and bringing to a military clash at the global level, as was the case in the past periods of the existence of socioeconomic formations, although we can observe such attempts.

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