The Fed Debasing the Currency Much Faster than the Romans Did Theirs

Rome cc

Why did Rome fall? There are many reasons. Some think a big contributor was poisoning from lead pipes.

While there was too much of one metal in the lives of Romans, it was a lack of other metals, the precious kind, which may have done as much as bad plumbing to bring down the Empire.

Over 200 years starting roughly with the dawn of the Common Era, Rome gradually reduced the gold and silver in its coins to 5% of what was once in the dinarius. This debasement helped precipitate Rome’s decline in following centuries.

The Federal Reserve has debased the US dollar at a much faster rate.

Dollar-Value

(From The Independent Institute)

The Federal Reserve Bank (Fed), founded in 1913 and now in its centennial year, controls the value of the US dollar. The currency debasement in the Roman Empire looks positively tame compared to what the Fed has done to the value of the dollar.

According to the official price level data compiled by the Bureau of Labor Statistics, the Consumer Price Index (CPI) in 1913 was 9.9, and in 2012 stood at 229.6. In the Fed’s first century the value of the dollar has fallen to 4.3% of its value in 1913.

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9 comments
Gregory K. Sloat
Gregory K. Sloat

Precious metals = lead, and LOTS of people will trade for it!

Robert Gandy
Robert Gandy

When the bottom falls out, the precious metal that will be in demand is brass, with a little lead.

Frank M Sheridan Sr
Frank M Sheridan Sr

Nancy, if and when the bottom falls out, who will trade anything for your precious metals??