> everybody already understands that the dollar is subject to long term inflation which is why people put their money into stocks or pension funds and don't put

> everybody already understands that the dollar is subject to long term inflation which is why people put their money into stocks or pension funds and don't put cash under the mattress for 80 years. The predictable change in the value of the dollar is priced in and desirable for many macro-economic reasons and irrelevant to consumers. Understanding and accepting are different things. I might know that the dollar is going to inflate by 1-2% every year, but I don't agree that this should be the case. There exists no avenue for me to opt-out of this either, because it is the policy of both parties, but not the policy of either party - it is instituted by an unelected chamber by which I have no say as to who makes the decisions. Hence, an unjust tax - it is taxation without representation. This unjust tax also benefits the early receivers of newly printed money at the expense of the later receivers who bear the additional costs. (The Cantillon Effect). The predictable rate of inflation is also only predictable during periods of economic success. If the economy begins to tank, we can see that the inflation becomes very unpredictable. There are countless cases of hyperinflation in the last century alone which we can take as evidence that centrally controlled supply of money isn't particularly stable. The dollar is perhaps an exception due to it being the global reserve, but this also means it is potentially of much greater risk if this MMT experiment turns out to be a massive failure, which to me appears inevitable, and is more of a question of when than if. > As far as the dollar value is concerned you care if the milk and the orange juice cost roughly as much this month as they do next month, there is this weird crypto and gold obsession with long sterm steady value that's not relevant at all for fiat currency. You're making the implicit assumption that the price of milk and orange juice won't change by much month to month, but this is absolutely not the case in places where hyperinflation has hit. The price can change week to week, day to day, but you can be almost certain that your wage isn't going to follow the price hikes. It isn't a "weird obsession" to consider that the dollar may face the same fate as dozens of other currencies. In fact, the historical evidence of currencies not hyper-inflating is the one we should bring into question - and the dollar as we know it has been around for less than half a century. It is no less of an experiment than Bitcoin.