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The American Empire in a Changing World



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Saturday, May 5, 2012

''Currency Debasement and Social Collapse''

From Mises

"[In a recent debate between Ron Paul and Paul Krugman, Dr. Paul said, "Professor Krugman indicates we just want to go back 100 years or so. That's not exactly true. We want to improve on what life was like back then. But he wants to go back 1,000 years or 2,000 years, just as the Romans and the Greeks … debased their currency."

''In Human Action, Ludwig von Mises explained how currency debasement contributed to the fall of the classical civilization of antiquity.]

Knowledge of the effects of government interference with market prices makes us comprehend the economic causes of a momentous historical event, the decline of ancient civilization.''

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