From Market Oracle
''The present experience of the United States and Europe from the abuse
of fiat money has been a recurring drama for millennia. Kingdoms, the
reign of pharaohs, oligarchies, dictatorships, republics and empires
have imploded from within largely due to discredited money.
The Western Roman Empire fell a thousand years earlier than the
Byzantine Romans by debasing the silver content of coinage to fund
military adventures. The debasement of the pound helped the sun set
across the British Empire. In the last century national fiat currencies
have drown in hyperinflation in Germany, Italy, Yugoslavia, Hungary,
Zimbabwe and Argentina (three times) to name the ones that come to mind
to a Westerner.''
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