Confiscate or Repudiate?

In 1919, in his book The Economic Consequences of Peace, John Maynard Keynes wrote:
“Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By [...]

Stagflation

Wikipedia.com offers an lengthy article on the subject of “stagflation”—an economic condition that I believe we are fast approaching or already in.
Wickipedia defines “stagflation” as “a period of inflation combined with stagnation (that is, slow economic growth and rising unemployment), generally including recession.”