[brc]

No, you've got it right.

War is the mother of all inflation. Always has and always will be.

Rulers and governments of all stripes don't like having their spending ways crimped, so that's why it's no longer around.

You will read a lot of 'deflation madness' type articles, but deflation is merely the other side of inflation. There are winners and there are losers. There is no record of a country falling into a destructive deflationary spiral (really, can anything get destroyed by lower prices?), but there is a long laundry list of countries and empires destroyed by inflation, starting with the roman empire and currently displayed by Zimbabwe.

Some people will say a stronger currency (as compared with other currencies) is a good thing. Some people will say a weaker curency is a good thing. Neither is right. Inflation and Deflation are the same - both have effects - both create winners and losers. Most people have been taught to think that deflation = horror and inflation = roses. That's not surprising, given the government sets the curriculum and gains the most from persistent inflation.