You have a misunderstanding of "value", "worth", "cost", "price", etc. In our inflationary environment, you would (ideally) be paid more for the same service in

You have a misunderstanding of "value", "worth", "cost", "price", etc. In our inflationary environment, you would (ideally) be paid more for the same service in the future. This does not mean you are automatically worth more every second that passes - rather, the value of the money you are paid in declines. A loaf of bread is a loaf of bread, but the dollar declines in value continuously. You do not automatically think your skills are "worth more" with every second that passes in an inflationary world, just as your skills aren't "worth less" in a deflationary world by virtue of time passing. In a deflationary environment, you would naturally be paid less over time, rather than paid more. Rather than a default of losing money, you are in default of gaining money. Prices adjust lower, and by saving money you are naturally gaining wealth vs. people with lower time preference who are spending money. But in reality, all of this is psychology. There is an amount of wealth in the world, and this is the sum total of all owned assets. We can use any unit of measurement we like to value this. If today there is $1 million total in existence, and tomorrow we double the money supply and there is $2 million, we aren't all suddenly 2x richer. Just as when the central banks print money, people aren't richer - we are redistributing wealth away from people's savings and towards the receivers of money. Wealth is only truly created when useful and productive enterprises grow.