I found your article to be very interesting and informative. I agree with you that dilution and inflation are essentially the same, but I disagree that dilution isn't a tax. Anyone who has the power to dilute a currency also has the power to redistribute the wealth carried by the currency, and therefore, has taxing power. To me, this is a straight forward concept, but I'm willing to give further examples if needed.
I found your article to be very interesting and informative. I agree with you that dilution and inflation are essentially the same, but I disagree that dilution isn't a tax. Anyone who has the power to dilute a currency also has the power to redistribute the wealth carried by the currency, and therefore, has taxing power. To me, this is a straight forward concept, but I'm willing to give further examples if needed.