> property rights
No you are conflating two topics. Property rights is not propping up stocks and bonds. It's protecting ownership so you can invest in building things over the long term without them being taken.
Similar reasons encourage the government to protect the value of their currency.
> the point of fiat is to be an easy medium of exchange
The stated goal of the federal reserve is price stability, not exchange.
> Hoarding paper or shiny objects is still speculation with risk
Yep but it's a difference of how much risk.
> having strong social safety nets
Those carry their own kinds of risk.
> I shouldn't be incentivized to hold dollars.
0% is hardly a massive incentive to hold cash. If we can't agree on that then ill be incentivized to hold a currency that does care about its value.
No you are conflating two topics. Property rights is not propping up stocks and bonds. It's protecting ownership so you can invest in building things over the long term without them being taken.
Similar reasons encourage the government to protect the value of their currency.
> the point of fiat is to be an easy medium of exchange
The stated goal of the federal reserve is price stability, not exchange.
> Hoarding paper or shiny objects is still speculation with risk
Yep but it's a difference of how much risk.
> having strong social safety nets
Those carry their own kinds of risk.
> I shouldn't be incentivized to hold dollars.
0% is hardly a massive incentive to hold cash. If we can't agree on that then ill be incentivized to hold a currency that does care about its value.