Do As The Romans Did

Governments have been debasing currencies for ages. Many are comparing these times with the fall of the Roman Empire. Currency debasement is usually followed be severe inflation-Lou

Take this little snippet from the very clever book, the Traveler's Guide to the Ancient World: The Roman Empire, which is a "travel guide" to the City of Rome and its environs from the year 300 AD

Note the following quote on pages 20–21

"The consequences of the barbarian threats that first developed 60 or 70 years ago..." [ca. 230–240 AD] "were that emperors needed to be near the frontiers and required money to pay their troops on campaign. Many emperors, in need of cash, simply reduced the silver and gold content of the coinage – effectively making enough coins to pay their soldiers, but decreasing their actual value. Civilians have felt the cost of a devalued coinage: an overall rise in prices. Indeed it has become difficult to persuade the local aristocracies to pay for the restoration of temples, theaters, and amphitheaters in many of the cities of the empire.

"Most Romans hope that the introduction of maximum prices and wages will curb inflation – now realized to be a negative effect of the debasement of the coinage."