Dollars sitting in the bank get weaker every day.
And how has oil done over the last months compared to crypto? What happened to the purchasing power of Bitcoin over the last 8 months?
So it isnt only dollars that this is happening too.
The fact that we currently have higher than normal inflation indicates that the dollar is getting weaker faster..
What is the inflation rate on $HIVE? 7.25%
What is the inflation rate on Bitcoin? 1.5%
Inflation is the expansion in the money supply. It may or may not result in price increases. What you describe is not inflation since the USD is not inflating. In fact, the creation of USD is flat since then end of the Great Financial Crisis.
So you have price increases due to a radical adjustment in the supply/demand equation yet people parrot the foolishness of money printing.
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When speaking of inflation I was referring to the measure of the rise of prices, not literally the expansion of the money supply. My point was, for whatever reasons, the purchasing power of the dollar is always decreasing and has been doing so at a faster rate recently than it has for a long time. In that sense the dollar is getting weaker, not stronger.
Having said that, an expansion of the money supply will cause prices to rise, all else being equal. All else is never equal though. Also, just because the money supply increases doesn't mean it's effect would be felt the next day. It depends on how that money makes its way into the economy. Sitting in banks doing nothing it won't have much effect. Given to people who will spend it, much larger effect. One thing is for sure, the money supply has increased dramatically over the past several years. That's bound to have an effect sooner or later. Obviously there are other issues in play such as overreaction to COVID, war in Ukraine, etc. that also have an impact by creating shortages.
But in any case, putting your wealth in dollars is a good way to lose about 9% of your purchasing power every year currently. There are faster ways to lose it of course...