Inflation and Dollar-Denominated Assets

So, I understand why those holding physical dollars would be hurt by the government printing up money out of thin air, but find it harder to see, as I recently heard Bob Murphy state, that it also hurts those who have assets denominated in dollars. How is this so? To my mind, the first thing is that the prices of dollar-denominated assets go up during inflation, resulting in a wash more or less since it's hard to say where the new money will flow. I can see how those holding dollars suffer, but not those with assets denominated in dollars. By dollar-denominated assets does he mean creditors expecting payment in dollars, as opposed to owners of land, etc.? Thank you for the clarification.

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