Yes, a hard cap means there is no elasticity.
The value of money is based on its stability, which is determined by how its supply grows or shrinks in response to changes in its demand.
Discussion
I don't understand the point you were making.
according to Saife, isnt no elasticity preferable?
why is low elasticity vs no elasticity a problem?
Aside - why is it half the time I pop into one of your threads, I can't view all the way to the top and only see a few replies back (cut off)? Seems to happen with you far more than others, Hanshan (?).
Yeah, I failed to explain it, haha.
I'm just trying to say that Saif think a lack of elasticity would be better for money. But, in reality, money needs elasticity to remain stable over time.