High time preference fiat money, whether as inflation or negative interest rates, tells savers "decide where to spend or invest your paycheck now or we take a cut." They try to rush the economy and force users of their money to rush their judgements.https://twitter.com/pierre_rochard/status/1062510947510697984 …
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Prevents hoarding. Increases the velocity of circulation, so that the money supply accomplishes more value creation per unit time. Not bad things.
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P.S. you know somebody has their wandering eyes on your retirement savings, your sons' & daughters' tuition money, etc. when they call it a "hoard" or accuse you of "hoarding."
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Happening in South Africa right now. The African National Congress government is discussing legislation to require all pension funds to invest a certain % in state run companies. We have the 8th largest pension savings globally. I'm sure hoarding will be used as a justification.
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High velocity of money increases value, even if individual investments are sub optimal.
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It's interesting that an American lawyer would spell "judgments" with an "e" twice... Something that someone who regularly reads the Times of London might do...
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