> Large amounts of "hoarded" money causes a deflation That’s interesting statement. In modern economy there is no such thing as “hoarded” money. Even if you ar

> Large amounts of "hoarded" money causes a deflation That’s interesting statement. In modern economy there is no such thing as “hoarded” money. Even if you are all cash, you have that money in bank which is landing it out and putting it to work. So I am not sure how this statement could make sense.