Or devalue the dollar to the extent that $1 becomes $2. In which case, the person who holds $99 doesn't hold $99 as "raw cash"(nominal asset), but holds $99 wor

Or devalue the dollar to the extent that $1 becomes $2. In which case, the person who holds $99 doesn't hold $99 as "raw cash"(nominal asset), but holds $99 worth of real assets. With this inflation or devaluation, his $99 will become $198 + delta. This delta comes as rent extraction from the ordinary people.