That’s not actually when inflation happens. Every dollar in the fiat system is fully collateralized by the obligation to repay the debt that created it and the

That’s not actually when inflation happens. Every dollar in the fiat system is fully collateralized by the obligation to repay the debt that created it and the social infrastructure (courts, etc) which enforces that. The first part is correct but only part of the story. Demand for loans and repayment is controlled by interest rate which is how central banks control the supply and hence inflation.