JasonC

Which Inflation Is It Anyway?

Nonsense - the change in the exchange value of any asset due to economic activity by others is not "theft". Nobody guarantees the exchange value of anything will remain unchanged; nobody could, if anyone has the slightest economic freedom. You are responsible for picking your asset position, and you are responsible for the consequences in purchasing power over time. If you think banks have it easy under fiat money, buy bank stock instead of lending banks your deposits. Hint - they don't. Or use diversified portfolio investment or real assets as stores of value, not a transactions currency.

I insanely dislike this tendency to criminalize the side effects of other men's freedom. It is just a new version of the old hatred of capitalists and "usurers", and it leads directly to the destruction of liberty, economic first but not limited to that. Men are free to engage in credit transactions, including ones that expand money substitutes.

Every successful or unsuccessful entrepeneurial action on a sufficient scale, changes the exchange value of everyone else's holdings. Period. Financial actions are no different in that respect than big investments in this or that sector making assets within it more valuable compared to assets outside of it.