It was Alexander Hamilton’s observation (from his earlier life as a clerk in the Bahamas) that businessmen are varmints, and should be constrained. Thus, the Constitutional constraint on who can issue money. Understand that inflation — which we are experiencing IN SPADES at the present time — is caused by too much (Federal Reserve) money chasing the same quantity of goods and services. Escalating prices are the consequence, not the cause, of inflation. The problem with inflation is that — with people like you and me and the ordinary worker who cannot increase his/her income — inflation ROBS US of purchasing power.

Deflation, on the other hand, affects the profits of the producer of goods or services, which is why businessmen and THEIR bankers hate deflation and will do anything, including causing a Great Depression(!) to avoid deflation. That’s what “Too Big to Fail” really means: Business interests are protecting their profits. That’s understandable, but, as I said, it’s DANGEROUS to the common folk.