The distribution of newly created liquidity isn't pretty when you look closer. Everyone's talking about how central bank money-pumping will spark inflation, but here's the thing—the traditional bond market seems oddly calm about it. Why? Because what we're actually facing won't be consumer price inflation at the checkout. It's financial asset inflation. When central banks flood the system with liquidity, most of that money doesn't trickle down to Main Street. Instead, it concentrates in financial markets, inflating stock prices, crypto valuations, and alternative assets. That's the real game happening behind the scenes. The purchasing power erosion hits asset holders first, which has massive distributional consequences across wealth classes.