"I have a piece of gold that will be worth $50 more tomorrow. We both know this" how? how do we both know this not only that but how does every market participant know that?
We all agree that unpredictable monetary changes are bad compared to similar ones that are predictable.
(Unless you want to argue that unpredictable inflation/deflation creates friction. I agree, it does. But predictable inflation doesn't, nor does predictable deflation.)
"Predictable by who? Every rise and fall of inflaion or defaltion is unpredictable with out knowing all of the information the market knows. For example a guy in china finds a problem with the code for BTC. HE knows that it is going to collapse BTC. He sells off everything he has got and tells all his friends, So the guys in china are liquidating and the merchants in the US are stacking.
I think we all agree that anything that can't be predicted is likely worse for the economy than anything that can be predicted. The majority of the economy already operates with money whose value can't be well predicted and commodities whose future values can't be well predicted. To suddenly say this is an argument against deflation is unfair.
