While there are those dogmatic, libertarian ideologues, there are two more insidious areas of motivation behind this. Both are based on exploitation. A fear-based political agenda, and/or fear-based marketing.
Politically, it remains a story of validation in a bipartisan environment. Cries of "inflation!" are a simplistic, easily digestible, and feared thing to relentlessly throw out there. Especially since it is either indefinitely coming any day or lurking in the shadows, it operates as a nice bogeyman. As "loose money" is the current policy they wish to condemn, adopting a sudden "hard money" stance (despite silence when deficits were being run up in prior administrations) is a nice antithesis to stand behind.
For marketing purposes, consider the example of the Wiedemer brothers. Their predictions include 50% unemployment, a 90% stock market crash and 100% annual inflation. Bold claims! They claim these predictions, which were published in a book they wrote, are responsible for some $100 million in assets flowing into investment vehicles they are associated with.
It also makes for good TV. There is a stark divide between what is given airtime and what the vast majority of economists stand behind.
Very often those peddling inflationary fears have attached to their claims calls for SPDR Gold Trust (GLD), Ishares Silver Trust (SLV) or their physical variations being great places to pile your money into. Kryptonite to evil inflation lurking in the shadows. Those same people making claims of outrageous future inflation levels can also be found making outrageous claims on where the price of precious metals are headed. To stir publicity they'll even tout a future return to the gold standard, which has about zero actual support from serious economists. Anil Kashyap has a succinct summary on the issue, stating:
A gold standard regime would be a disaster for any large advanced economy. Love of the G.S. implies macroeconomic illiteracy.
They don't want a gold standard because it would mean there would be accountability!
To make more money would mean you would need more gold!
Or you could just make less of it worth more and you would have the same as we have now!
Fdr robbed us of real money and ever since we have been circling the toilet bowl!
It is not just for these reasons that some claim that inflation lies ahead.
The fiscal stimulus and monetary easing are not without consequence.
There has been no attempt to bring in the reigns of fiscal irresponsibility under nor attempt any semblance of control.
The long term debt issue looms large and Congress has all but given up trying to bring deficits under control.
While inflation appears transparent, the debt shall have to be paid.
No political leader is taking responsibility for the debt. The public is turning its back, asking for more entitlements. The unfunded liabilities are mind boggling and unsolvable.
It is apparent to me that when the time comes, no one is willing to take a haircut. Government employees had no desire for their sequester, as small as it was. Congress and the Federal Reserve will be asked to inflate the debt away.
Inflation is not a problem now.
Everyone will wish the good days to return.