I agree with you assuming we lived in a utopia where there was no need to fear the corruptibility of banking institutions or governments.

Fear it all you want. But fearing and cowering in the corner while life passes you by is a bad decision. Trust but verify.

And don’t use irony on the web. It is either missed or resented. Neither is a desirable outcome.

What is crucial, however, is that people have the security of knowing that when they wake up, that object will (to the greatest degree possible) retain its value today, tomorrow, and forevermore.

Nah, it just has to retain its value until they can hot-potato it to the next guy, who needs only the same belief, but with the benefit of a reset clock.

No one has ever had to depend on the USD holding its value for longer than the time it takes to buy something with it, including an investment that returns an amount that takes inflation into account.

A dollar is not a perishable. It has a half-life, but each person pays for it what it’s worth when they get it and gets for it what it’s worth when the spend it. What would have happened to someone who put a dollar in a mattress in 1913 is of no significance.

No, what is crucial is that the local currency be suitable for financing future production. A modestly depreciating currency turns out to be best suited to that purpose, as the interest will include an inflation adjustment that in real terms is actually a form of amortization. That reduces the lender’s risk of default in the out years of a loan, because the real value of the amount defaulted upon has fallen, and anything that reduces a lender’s risk in a competitive environment reduces the borrower’s price. In other words, a predictably depreciating currency costs less to lend and borrow and so results in more financed economic activity, all of which produces goods and services for participants in the economy to enjoy.