The moral claim realmoney places on society on behalf of its bearer comes not from the intrinsic valueof the token but from the fact that the bearer had previously produced some good or service deemed valuable by others.
Turner Sims Concert Hall and John Hansard Gallery both received more money but, taking into account current and expected rates of inflation, the realvalue is a decrease.
If the Fed chooses to reduce the real burden of the debt via inflation, the purchasing power ofmoney will fall along with the foreign exchange valueof the dollar, and those who trusted in U.S. public debt will suffer.