Quote from: brenzi on June 19, 2014, 07:35:56 AM

Quote from: DooMAD on June 18, 2014, 10:28:51 PM

When the mainstream come on board and recognise the benefits of decentralised currency, they'll also recognise the ideology that made it work and want to defend that. They'll know by then that printing masses of fiat money out of thin air by banks and governments was just a con. The only ones to see any benefit from the creation of fiat money were the ones reaping all the interest because the money was, in reality, just debt. A continuous loop of theft to transfer wealth from the bottom to the top. They won't want to go back to that once they've seen the light.

Deflation is a transfer of wealth from the bottom to the top as well. Whoever has the possibility to save money today will be richer tomorrow. The poor need to eat today, they can't wait until tomorrow.
Inequality can't be addressed by monetary policy alone.

But with deflation, the cost of eating goes down so the poor can save more.

The reality is that inflation hurts the poor the most and helps the rich. Most of the wealth held by wealthy people is in the form of assets such as real estate and companies. Poor people hold most of their wealth in cash. Inflation helps wealthy people at the expense of poor people because the values of assets go up and the value of cash goes down.

Wealthy people such as bankers and politicians love inflation.