I looked into it, and you're right; I was sloppy in my terminology, and will be more careful in the future. I appreciate the correction. In this light, let's c

I looked into it, and you're right; I was sloppy in my terminology, and will be more careful in the future. I appreciate the correction. In this light, let's consider four activities: spending, investing, saving, and hoarding. Currency dilution encourages the first two and discourages the second two. It also systematically transfers purchasing power from savers/hoarders to spenders/investors. Can you build a case that the benefit from dilution outweighs the costs? Dilution certainly encourages "economic activity" (for certain values of "activity"), which you seem to regard as axiomatically good. What is your justification for this?