I agree that it is nonsense. If hoarding leads to an irrationally priced money, rational people will quickly realize this and exchange their money for other al

I agree that it is nonsense. If hoarding leads to an irrationally priced money, rational people will quickly realize this and exchange their money for other alternatives that have become favorably priced. Once this tipping point is reached, others will realize that they were overvaluing their money and the pendulum will swing back.