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Highlighting a few fantastic sections from Ludwig von @mises in Theory of Money and Credit:
@mises Inflation sends false signals to businesses, making them think they're making profit, when really they're consuming their capital.
Monetary depreciation falsifies capital accounting.
Monetary depreciation falsifies capital accounting.
@mises Totalitarian govts don't want their subjects to shield themselves from monetary depreciation.
@mises They might make out like: "oh you the individual might benefit, but the community loses out" if you try to shield yourself from monetary depreciation
@mises But really, they're basically suggesting you, should give up your value to those who benefit the most from the Cantillon effect and are closer to the monetary spigot
@mises The irony is: those people who take steps to defend their value from monetary depreciation are in some sense, helping the community protect wealth against govt destruction.
