Don't buy into the propaganda. Bank runs only happen in fractional reserve systems, which central banking facilitates and encourages.
Deflation isn't bad either, it encourages saving, which rather than living paycheck to paycheck as most do today.
Deflation isn't bad either, it encourages saving, which rather than living paycheck to paycheck as most do today.
Your solution to the problem of inflation is the abolition of credit.
If inflation encourages those with surplus income to make riskier investments, and riskier investments benefit those living paycheck-to-paycheck (say by increasing demand for their labor) then inflation is to the benefit of those living paycheck to paycheck.
On the other hand, the upper-middle-class to wealthy do benefit from deflation, since they have excess income. If inflation doesn't benefit the less well off, then perhaps there is little reason to punish the wealthy with inflation. Those that would save more in a deflationary economy are already saving though.
Oh wait, centralized banking didn't exist back then? Fractional Reserve Systems didn't happen back then? And yet you have a decade of the greatest bank-runs of US History?
And ever since the fractional reserve system was invented, there hasn't been a national-scale bank run in the US for nearly 100 years?
"The Federal Reserve System (also known as the Federal Reserve, and informally as the Fed) is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, largely in response to a series of financial panics, particularly a severe panic in 1907."
If you're going to act all exasperated about something, at least get your facts right.
When I save money, I invest it in productive enterprise. Thus, I have less in my checking account. You could even consider (gasp) that I'm living pay check to pay check!