Prices change over time.  In other words, it doesn’t impact everyone equally.  Prices will rise with the expectation of inflation.  That is, businesses will begin to charge more for goods just from anticipation of a decline in purchasing power.  The business is fully aware that prices must be raised, or they will not be able to afford future inputs.  This isn’t because they’re greedy—or any other excuse—it’s because the decline in purchasing power.

The business is aware that the future will differ from the past.  The money used to buy goods in the past will not buy those same goods in the future.  Prices must be adjusted now so the inputs can be purchased for the next sales cycle.  This will continue as people realize inflation is deliberate.  People will buy more and more goods now because the money they have now won’t buy them in the future.

A crack up boom has started when the people don’t believe inflation will end.  The paper tickets won’t have any value in the future.  That money must be spent while it still has some purchasing power.  Inflation is deliberate, but it can’t last forever.  It must come to a stop.  Either hyperinflation or bust.  This can only happen if the medium of exchange isn’t a real good.  Real goods can’t be printed.

Money must have begun as a valuable commodity.  Money has value today because it had value yesterday.  That can be walked back all the away to barter.  The first exchange must have been a good for a good.  Nobody would accept paper.   It’s impossible that it could’ve been any other way.  We use paper now, but that was after a money was already established.  Now, the paper money can be printed at will to benefit the early receivers.

Inflation is a deliberate policy because it’s an easy and unobserved source of revenue for the state.  It’ll destroy the current monetary system—your savings too.  It’ll then be replaced by a new digital system.  This will not stop inflation.  It will become easier.  Credit will be expanded far more than in the past.  This will make the boom and bust cycle more intense.  All transactions can be monitored, and assets can be frozen.  There will be many unforeseen consequences.

Reference

Ludwig von Mises; Human Action