> Ultimately, printing money doesn't make anyone more productive or produce anything. All it does is redistribute wealth from those that were first to get the new free money away from those that were last to contact it.

I look it as raising taxes on the rich is too hard, and too easy to roll back. Just give the people who need it most the money, devaluing rich people's money. It's just a more efficient form of wealth transfer, and inflation isn't an issue as long as the deficit growth doesn't exceed long term growth.

> At the moment we have new money being created by central banks and given to privileged institutions who get access to free money.

Also, did you forget about fractional reserve lending? Banks don't need the fed to create money, they do it on their own all the time.