Yea, but I don't have a problem with volatility. I have a problem with inflation. So, as a customer of this product, you can tell me I should want a lack of volatility. But what I really want is a lack of inflation. And indeed, your note implies that you too are fleeing cash. But I don't want to park all my money in bonds (also being printed like crazy) and houses (also being printed like crazy) or even companies (also being printed like crazy). I'd like to just park it in the IOU-form I earned it in without having it's value stolen or being forced to invest in something being printed like crazy with all sorts of complexity of risks (e.g. debt filled companies, real estate I have to rent or something). Just to have my money not lose value and for me to be able to spend it without someone being able to stop me. And it does that. I'll take the volatility.

> My point was this is the wrong focus, because of what currency is by nature.

Ah, fair enough. That said:

> I owe way more money than I have in cash, as does almost everyone, and my loans being in nominal currency, inflation only helps.

This only works if you have a effective means of prohibiting (any) interest on those loans (ie anti-usury laws that actually have teeth). Otherwise the lender just bakes inflation into the interest.