> Deflationary currency would be an absolute nightmare for everyone except those lucky enough to be holding on to a lot of it before it was too valuable. The

> Deflationary currency would be an absolute nightmare for everyone except those lucky enough to be holding on to a lot of it before it was too valuable. The era 1870~1910 in the US was deflationary (as was late 19th century sweden), hardly characterizable as a "nightmare", especially compared to the nightmare that immediately preceded it. The world had a brief experiment with deflationary currency and it wasn't all terrible, in fact one of the two major participants went from "failed state" to "global superpower" in that timeframe, even while enduring the economic challenges associated with freeing its slaves.