[empthought]

Dollars that people hold onto, instead of using to purchase something else of value, are effectively worthless to everyone.

[rationalist]

That means there are less dollars in circulation, which is the opposite of inflation.

[empthought]

Yes, I wasn’t clear.

I was offering a reason why dollars “losing value” is not actually a thing to worry about. If they didn’t lose value, people would hold onto them instead of spending them. Which is objectively a loss to everyone, regardless of how you decide to denominate it.