Deflation Is Not Your Enemy — But Inflation Targeting Is a Declaration of War on Your Wealth

We’re constantly told to fear deflation. That’s the gospel. If prices fall, the story goes, people stop spending, businesses collapse, jobs vanish, and the economy grinds to a halt. The so-called “solution”? Always the same: print more money, inflate the currency, and make sure your dollars buy less tomorrow than they do today. It’s the central planner’s favorite bedtime story — and it’s dead wrong. Let me tell you the truth: deflation — real, organic deflation — is not the threat. The threat is what central banks do to prevent it. The real danger is the deliberate destruction of your purchasing power through inflation targeting, and now, even higher inflation targets. This isn’t just a technical policy shift. It’s a…