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RE: Rome and Steemit were not built in a day. The rise and fall of Rome and how Steemit can learn from this story.

in #steemit8 years ago (edited)

Good story, but "spreading the wealth around among the many" was never the intended goal of the debasement of the roman currency. It was all about finding a way to finance more projects and in the end it came back with a vengeance called "inflation".

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Sure, I deliberately simplified the story in order to get across the point that it is when a currency supply is controlled and has a good supply is multiplies to its ability to trade.
Also how the value of a currency can be based upon the stability of an empire.
Just as is the dollar today is backed only by the US itself.
Of course when a Govt over creates the supply then inflation comes into play.
But this was another point I did not want to bring in at this time and one I intended to bring up in another blog. I try to stick to one or two points as I find people then take it in
There are many theories on Roman history and I have heard and read as many as there are books on the subject, but it does not alter the fact that during this time of the copper coins of Rome´s economy that it boomed, and when the this money supply as taken out of circulation it created a depression.
I have discussed this in depth with the american historian Bill Still of whom I am a big fan.
Thanks for the comment.