Clipped Roman Silver coins – Debasement alive and well long, long ago
Most people, myself included, have been slyly brought up to never think about inflation as a form of direct government taxation. But that is exactly what it is. Make no mistake about that.
You see long ago (in days of olde, when Knights were bold), it became clear that once you start taxing people above the forties rate, at about 45% and above people start to squeal. The Kings, monarchs, princes, and Dukes needed revenues to fund their maniac wars. It became clear that you just can’t keep notching up the rate of taxation – much to the botheration of the ruling classes, as they would just revolt – and that was pretty boring situation to deal with.
I didn’t take long for them to realise that all they had to do what debase the currency. A technical term for removing some of the money from the money itself. Technically it’s called stealing. If you tried this they would throw you in jail.
Back in the day a wedge would be cut out of the coins that were actually made of gold, silver and mixes thereof. If the lord of the manor needed more money he would just legally” debase the coin (currency of the day).
Back then it was bleedin’ obvious that someone had hacked a chunk out of the gold coin. The more sly rulers would actually replace the metals with others.
Today, however the control lords have reached the ultimate form of debasement Nirvana. This is why it cannot last. We are all totally blind to the debasement. There are two ways that are overlords manage this debasement:
- Money Printing (so-called Quantitative Easing)
- Fractional Reserve Banking
so to conclude – Inflation is used and manipulated by Government to it’s own ends for at least half a millennium and that is a hard drug to give up.
We no longer have a sound economic financial system – It has long been replaced by a dysfunctional Ponzi Scheme.
Make ready your plans.
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