The percentage of the global economy that stores value in a particular currency will change based on the long-term expected inflation of that currency. Large c

The percentage of the global economy that stores value in a particular currency will change based on the long-term expected inflation of that currency. Large companies hedge currencies all the time. If you live in zimbabwe, whenever you receive currency, you immediately try to exchange it for something else, either another currency or goods. If you can choose to accept payment in a different currency (ie: by leaving the country), you do. You can't opt-out of your currency inflating, but you can often choose how much to hold of it. How much currency do you actually have? I bet most of your net-worth is in non-currency. If you own stock and that currency inflates, the amount of dollars you can get for that stock goes up - you don't hold currency. Even savings rates tend to track inflation, if you are a bank and know that the money loaned to you will be worth less in the future, you can offer to pay more interest for the opportunity to use the money now. It isn't as if the fed can extract interest on all economic value, just all dollars, which is a relatively small fraction of stored economic value.