"The thing is, when you hoard wealth as numbers on a balance sheet rather than spending it, you are actually destroying that wealth."
Money != Wealth, for one.
If you hold money on a balance sheet, you are not destroying anything. In fact, you are reducing inflation since inflation is more money chasing less goods.
Except that FED will counter that effect because they are keeping stable inflation. People who don't save like you do will still be in exactly the same situation as they were before you decided to save.
If all of the rich people one time decided to spend their money on something that touches real economy (not just stock gambling) it would drive up inflation, possibly too fast for FED to counter it.
Of course not. Since the original statement was about holding gobs of money on a balance sheet, it is clear that regardless of what the FED does, you would increase inflation by spending that money rather than keeping it on the balance sheet. Therefore, holding that money reduces inflation(since the other option was to spend that money and increase inflation).
Money != Wealth, for one.
If you hold money on a balance sheet, you are not destroying anything. In fact, you are reducing inflation since inflation is more money chasing less goods.