This ( plus nearly all of Rothbard ) is where I disagree with the Austrians. I don't think specie-fever is particularly an Austrian .. opinion but they're also highly correlated - Austrians tend to be fond of gold. If I win my bet, specie is pretty dramatically a bad idea, as the interwar stories show well enough for me. Austrians in general don't seem to grasp that flows matter as much.

When I want to be hyperbolic, I will accuse deflation of being a big contributor to WWII.

I just don't like the idea of the level of currency in circulation being a drag on transactions. Throw in that how debt can be a real problem for people, and I just can't go there. I rather giggle at the "Hayek and the suit" story, although I admire Hayek greatly.

I'm closest to Friedman/Fisher/(these days)Sumner. Mainly because the story is one of poor instrumentation leading to policy that doesn't do what we want, which suits my biases.

"Interfluidity" did an ( I think ) brilliant piece titled "Depression Is A Choice" in which they mused that deflation may well reflect our revealed preferences.