A simple answer is that it is a highly effective tax. It dilutes our purchasing power and channels the upside of that dilution to those who control the money su

A simple answer is that it is a highly effective tax. It dilutes our purchasing power and channels the upside of that dilution to those who control the money supply (or those close to those who control it [0], or own dollar denominated debt. I do not think a government would be willing to give up a tax opportunity, especially if it is not politically objectionable. [0]: https://www.investopedia.com/terms/b/biflation.asp#toc-the-cantillon-effect https://www.investopedia.com/terms/b/biflation.asp#toc-the-c...