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by hndamien 1482 days ago
This is a completely incorrect version of how economics actually works. Inflation is not inevitable, in fact, with a hard monetary standard, deflation should be inevitable given that humans using the monetary system continue to produce wealth rather than destroy it.

Inflation under the gold standard was due to an increase in the money supply, be it through gold discovery, credit, fractional reserve lending, coinage debasement. You can directly see the impact of this during the gold rush.

By storing a hard monetary assets and deferring consumption and "hoarding" a monetary asset that has no other utility, you are not disenfranchising society of an wealth utilisation, and you are improving the purchasing power of all others that utilise the currency (in effect causing deflation). It's an odd position to have that you believe that having the money that you saving losing purchasing power is a desirable trait.