inflation is literally expiring money. I guess the difference is you could expire some but not all money, but what's to keep me from spending my expiring money on equity or something?
With a central digital currency, they could presumably dictate what kinds of items could be bought and sold.
If their goal was to spur consumption, they could block some types of investment from some or all people at any random time.
We already have different legal classes of investors based on wealth: you effectively need at least 25K in a broker to be able to day-trade, and the requirements to get a designation of accredited investor are even more substantial.
It would make it trivial to assign different rights based on wealth in a digital system and use it to enforce policy.
