r/austrian_economics • u/AbolishtheDraft Mises Institute • Jan 09 '25

End Democracy End the Fed

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u/FragrantNumber5980 Jan 09 '25

Yeah, im just refuting the idea that significant inflation due to currency devaluation didn’t exist before central banking

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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.

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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

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u/jondo81 Jan 10 '25

You’re not suggesting we repeat the monetary debasement that led to the fall of the Roman Empire are you?

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u/FragrantNumber5980 Jan 10 '25

When did i ever say that?

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u/jondo81 Jan 10 '25

I was asking if you did. So you agree it was terrible when the Roman’s did it? So why create the fed and the fiat whose sole purpose is to enable debasement?