Under the fiat currency system, deflation is actually an abnormal phenomenon, fleeting and rare. Conversely, inflation aligns with the operational logic of this system — it is the norm and an inevitability. This is also why we have seen over the past few decades the continuous dilution of purchasing power and the constant rise in asset prices. Understanding this is particularly crucial for grasping market cycles and making investment decisions. When we discuss wealth preservation, this overarching context is always in the background.