Gold bugs and libertarians believe in the epically flawed quantity theory of money. Inflation can be controlled if it is used to build capital that increases e

Gold bugs and libertarians believe in the epically flawed quantity theory of money. Inflation can be controlled if it is used to build capital that increases efficiency and thus lowers the cost of oroduction. If newly created money flows directly into asset speculation via the western system of lending against assets to buy other assets, then this creates inflation. The western system also has the side effect of rewarding lazy money thst doesn't need to make anything to see itself grow. All it needs to do is follow the newly created money into whatever asset class is currently in fashion.