> Inflation (a jargon word that basically means printing money) transfers money from savers to debtors. No. Inflation is a decrease in the value of money relat

> Inflation (a jargon word that basically means printing money) transfers money from savers to debtors. No. Inflation is a decrease in the value of money relative to the goods and services in the economy. As with all things, the price of currency depends on the supply of currency, but as with all things, it also depends on the demand for currency, speculation, etc. > It's destructive because the amount of money the government will print is not fully predictable, so it creates financial risks for people who plan ahead. Nothing in this world is fully predictable, but inflation for the US dollar has been approximately 2% per year for a long time, although it is now somewhat lower. This is much more stable than the price of bitcoins which can vary significantly day-to-day. If I'm planning, what I care about is prices, i.e. inflation in my definition, not quantities, inflation in your definition. > It's destructive because the new money enters the economy unevenly -- and basically unpredictably and unfairly, not efficiently. There's a great deal of difference between fairness and economic efficiency. You undermine your point by confusing the two, and I'm not sure what you mean here. > It's also destructive because it discourages savings and capital accumulation, which are important to wealth creation. No. Inflation discourages holding cash, by which it encourages investing in the real economy. If you put your money into some investment whose value is tied to real goods and services (e.g. a factory or rental apartments), then the value of your investment will not be impacted by moderate, predictable inflation.