Inflation

No, “societal” value is not what you want or think is good, and “we” are not a homogenous entity of observable, aggregated preferences.

Even when an economic bust appears, there may still be enough real savings in the economy to quickly put the economy back on track. This is what brings economic recovery, not artificial "stimulus."

A free market in money means real freedom to choose what money we use.  This may mean people turn to gold and silver. Or they may turn to crypto. What's important is that it's market-based money.

Even if the central bank were to be successful in preventing the fall of the money stock, this would not be able to prevent a depression if the pool of real savings is declining.

A free market in money means real freedom to choose what money we use.  This may mean people turn to gold and silver. Or they may turn to crypto. What's important is that it's market-based money. 

Remember savings bonds? They were popular before the central bank made sure that safe, low-interest investments became a thing of the past. 

Remember savings bonds? They were popular before the central bank made sure that safe, low-interest investments became a thing of the past. 

Useful goods and services, and the productive resources needed to create useful goods and services, are wealth. Money is not wealth, and creating more money without first creating wealth is a big problem.

Useful goods and services, and the productive resources needed to create useful goods and services, are wealth. Money is not wealth, and creating more money without first creating wealth is a big problem. 

Money printing—even at a constant rate—is going to generate the same result as any other money printing. The reason lies in the fact that money creation transfers wealth from productive to unproductive enterprises.