Prices will fall on a free market.  We don’t have a free market.  In fact, the system isn’t even designed to make prices stable.  That’s a fairy tale.  It’s designed to make prices rise.  Prices may rise based on supply and demand, but not for the entire economy.  By and large, the fall in prices will be continuous.  Falling prices are a good thing.  They don’t mean depression, contrary to the propaganda that the state will push.   

The propaganda from the state will say inflation should be at some small percent.  They push this because they are the first to receive the new money.  Their ability to purchase goods rises with the new money.  This increase in demand will drive prices up.  Your purchasing power will fall as a result.  The change in the quantity of money disproportionately benefits the counterfeiters.  The quantity of money shouldn’t change.

Society would be better off if there was no change in the money supply.  We wouldn’t be faced with the ever-increasing prices we have now.  Statist propaganda will also claim that deflation is horrendous.  The exact opposite is true.  That just means that prices will fall even more.  The money you saved will be worth more when you spend it.  The state is harmed because it doesn’t transfer money from you to them.

There’s no scenario where the counterfeiter doesn’t get the counterfeited money first.  There’s no mythical government helicopter to disperse the newly printed cash.  Supposing something like that did exist, the early risers would benefit at the expense of the late risers.  It’s a transfer of wealth from the late risers to the early risers.  Prices don’t rise evenly for everyone.  Inflation is corrosive to you and society.

Imagine a fall in prices.  How would that harm you?  It wouldn’t.  You’re against legal counterfeiting if you want low prices.  The only method of legal counterfeiting is central banking.  Just like the saying goes: give a man a gun and he’ll rob a bank, give a man a bank and he’ll rob the world.  It’s inflationary, redistributive, causes the business cycle, benefits the early receivers, and expropriates property.  Central banking isn’t beneficial.

Reference

Murray Rothbard; The Case Against The Fed