I was at the Royal Ontario Museum this summer. At one Byzantine coin display, the placard said that during periods of inflation, coins were debased (with lower gold and silver content).
And I'm thinking, if our Western economies fail it will be because we didn't recognize that debasing the currency causes inflation, and not the other way around.
About Me
- Brian J. Dunn
- I live and write in Ann Arbor, Michigan. University of Michigan AB and MA from Eastern Michigan University. One term in the Michigan Army National Guard. Former American history instructor and retired nonpartisan research analyst. I write on Blogger and Substack. Various military and private journals have published my occasional articles on military subjects. See "My Published Works" on the TDR web version or under the mobile version drop-down menu for citations and links.
