Its called inflation. They do that already, just less honestly.
The fact that people keep money under mattresses is a failure of the educational system, not a failure of monetary policy.
Think about that for a minute
Both. In the end, everything is a commodity
— Apologies to Baudrillard
Also imagine a person keeping 3000$ for a rainy day. He can't buy stocks, because rainy day could come at a stock dip. Losing 23% of that money in 5 years (assuming 5% inflation). How is it a failure of an educational system, not monetary policy?
It’s exacerbated by stimulus spending. Money is printed and spent in areas meant to stimulate more spending. That devalues the dollar and diminishes the value of savings.
I really can't see how inflation is in any way dishonest. Not to mention the amount of money maid via taxes(1.5 trillion) absolutes dwarfs any revenue from seigniorage(65 billion).
https://economics.stackexchange.com/questions/16075/usa-seig....
Also, when the government borrows money and the fed buys notes to keep borrowing rates low, that still produces inflation. The fed is sitting on about 4T$ in bonds as of now.
Assuming interest rates aren't 0 or near 0 that's true. But recently inflation has been consistently lower than historical norms.
You don't get a vote. You get increased prices and reduced purchasing power whether you like it or not.
Second, this is a typical "boiling the frog" type of taxation, which is slow and spread over long periods of time (typically portions of whole lifetimes) and even people with enough brains to understand the problem don't really pay attention because it's never felt as an immediate pain.
Presumably the grandparent sees this conduct as more dishonest than what was discussed earlier, because it does not require a accompanying public statement, which states explicitly that money is taken out of taxpayer's pockets.