Saving is worthless is another reason. (I have said this above, though): if money today is worth less than money tomorrow, you want to get rid of it as fast as

Saving is worthless is another reason. (I have said this above, though): if money today is worth less than money tomorrow, you want to get rid of it as fast as you can. People want to "save", anyway. This implies that the only way to save money is to invest it in risky assets. There is no point in buying bonds as investment for the general investor (only for hedging) if they will be worth less tomorrow than today -you are burning money, literally. Does this not look very much like inflation? (i.e. if you do not spend your money _right now_ you may not be able to buy anything tomorrow)..... It is inflation but Central Bankers do not want to see it.