The alternative is inflation which is a type of theft.Is it Right for Someone to Increase the Supply of Dollars?
When you increase the supply of dollars, you decrease the buying power of each dollar. Whoever adds dollars to the money supply adds dollars to his own pocket and takes buying power out of your pocket by devaluing the dollars in your pocket. Whether the person spends the extra dollars or lends them
out, it doesn't’t change the fact that the buying power - wealth - has been stolen
from you. It doesn't’t matter whether the extra dollars come in the form of cash or
credit (i.e., bank IOUs). It doesn't’t matter whether the person doing it is a regular Joe (e.g., a counterfeiter), a government, or a bank. No matter who does it, you are the loser, and they are the winner: the buying power leaves the dollars in your pocket, and enters the newly created dollars in theirs. So, is it desirable to
allow anyone to increase the supply of dollars? Obviously, the answer is no: not
individuals, not governments, and not banks.
Thanks for your insisive comments.