TFA points out that it's true that the dollar lost 99% of its value over the last century. "However, if you held your money in anything interest-bearing, includ

TFA points out that it's true that the dollar lost 99% of its value over the last century. "However, if you held your money in anything interest-bearing, including short-term Treasury bills with no-credit-risk, you’ve at least almost doubled the purchasing power of your money!" I'm not sure I agree with the argument that inflation is theft from the people, or at least we have to define what's "the people". Poor people who earn their salary and spend most of it within the month are not really victims of the inflation unless their wage doesn't increase proportionately with the inflation year after year. And while it's not a perfect match, salaries now are definitely not what they were in 1920. A quick google gives the average salary in 1920 at $1236 although I can't seem to find a decent source for that. Clearly the workforce's purchasing power did not collapse during the past century. "The people" who are losing money are wealthy folks (or "whales" in bitcoin parlance) who hold onto huge amounts of currency. Those would've lost 99% of their fortune if they kept dollars in their mattress for a century. So what should they do instead? Invest that money to fuel the economy.