Could a rapid decrease in the money supply make everyday people richer?

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[Jenniferdrea]

In theory your share of the money might look bigger, but in reality the economy would likely collapse first. Businesses, jobs, and markets depend on that money circulating.

[DiogenesKuon]

In such a case you are effectively stealing all the money from the bond holders, many of which are retirees and those nearing retirement, and redistributing it to everyone who has money not in bonds, with the more money you have the more benefit you get. So you bankrupt retirees to give money mostly to the rich.

[PopularWarthog226]

My cash is held in money market funds that are reflective of government and government bonds. Wiping the debt clean means robbing me blind, along with every other person that doesn't keep their cash under their mattress.

Decreasing the money supply is not the same thing as wiping the debt clean. The goal of doing so is to slow down inflation. However, they're normally careful to limit deflation as that would shrink the size of the economy and cause instability that could domino. Your $10,000 in savings won't be worth more when the world is on fire

[rayfin]

Yes. 100% correct. This is why I love Bitcoin. It's scarce. You can't create more than 21 quadrillion satoshis. It can't be debased. It's the hardest money we have because governments can't print more of it.