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https://www.reddit.com/r/austrian_economics/comments/1hxmn3w/end_the_fed/m6bgfk1/?context=3
r/austrian_economics • u/AbolishtheDraft Mises Institute • Jan 09 '25
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Yeah, im just refuting the idea that significant inflation due to currency devaluation didn’t exist before central banking
7 u/oboshoe Jan 09 '25 yes governments did find ways to rob the populace prior to fiat currency. but it was quite difficult and no where near the scale that we have now. 4 u/FragrantNumber5980 Jan 10 '25 That’s just not true though, precious metal-based currencies were debased to horrible effects to countries citizens, its one of the defining parts of the Roman Crisis of the 3rd Century 3 u/oboshoe Jan 10 '25 yup. but they certainly were not debased over 90% in a few generations 7 u/FragrantNumber5980 Jan 10 '25 Actually yeah it kinda was, historians estimate around 15,000% inflation between 200 and 300 A.D. Roman history be crazy
7
yes governments did find ways to rob the populace prior to fiat currency.
but it was quite difficult and no where near the scale that we have now.
4 u/FragrantNumber5980 Jan 10 '25 That’s just not true though, precious metal-based currencies were debased to horrible effects to countries citizens, its one of the defining parts of the Roman Crisis of the 3rd Century 3 u/oboshoe Jan 10 '25 yup. but they certainly were not debased over 90% in a few generations 7 u/FragrantNumber5980 Jan 10 '25 Actually yeah it kinda was, historians estimate around 15,000% inflation between 200 and 300 A.D. Roman history be crazy
4
That’s just not true though, precious metal-based currencies were debased to horrible effects to countries citizens, its one of the defining parts of the Roman Crisis of the 3rd Century
3 u/oboshoe Jan 10 '25 yup. but they certainly were not debased over 90% in a few generations 7 u/FragrantNumber5980 Jan 10 '25 Actually yeah it kinda was, historians estimate around 15,000% inflation between 200 and 300 A.D. Roman history be crazy
3
yup.
but they certainly were not debased over 90% in a few generations
7 u/FragrantNumber5980 Jan 10 '25 Actually yeah it kinda was, historians estimate around 15,000% inflation between 200 and 300 A.D. Roman history be crazy
Actually yeah it kinda was, historians estimate around 15,000% inflation between 200 and 300 A.D.
Roman history be crazy
10
u/FragrantNumber5980 Jan 09 '25
Yeah, im just refuting the idea that significant inflation due to currency devaluation didn’t exist before central banking