Monday, December 27, 2010

History lesson on Currency Debasement

Nero the Roman Emperor feared being lynched if the people caught him debasing their money and went to great lengths to hide his crimes. Yet Ben Bernanke proudly boasts that he is debasing the people's money on 60 minutes and is still able to walk the streets.

It must be our greater level of education and intelligence compared to those simple Romans that has allowed us to overcome such silly notions of money being a store of value. Even America's founding fathers as recently as 1792 also held this primitive notion that any one debasing the people's money should be put to death.

Isn't wonderful we have managed to over come such primitive thoughts and the no doubt turmoil that a stable store of value must have reeked on the ancients.




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