Indeed. #HardMoney enables #prosperity, #EasyMoney drives societal #collapse.
For 700 years the #RomanRepublic lasted under a sound monetary system, but only about a century after transitioning into the Empire stage Rome began debasing its currency. It was the begining of the end.
Nero was the first, doing so to fund the rebuilding of Rome after the great fire (among other expenses). Despite this initial debasement the silver content of Roman denarius then remained relatively stable with 75 - 85% silver content under the leadership of the 5 good emperors. This marks the end of the period known as the #PaxRomana when Rome was at its peak.
Commodus began his reign in 180 CE, this marks the beginning of very tumultuous times for Rome. For the next 120 years Rome could no longer expand it's borders and fund the empire through conquests and, as silver mines alone were not able to keep up with the expenses of the empire, they began debasing their currency in earnest. During this period emperors were being assassinated so fast that more emperors passed through the throne than in the previous 250 years. Less than 100 years after Commodus took the throne, the silver content of the denarius had collapsed to 5%.
In the early 4th century Constantine the great's reintroduction of a hard money standard with the solidus made him very popular. This coin provided a strong foundation for the Eastern empire, which Constantine founded when he moved the capital to Constantinople.
But the damage had already been done, Roman government expenses were many and were difficult to afford. Rome began burdensome taxes which lead to riots and civil wars, further weakening the empire.
Western Rome, having used up it's national savings account through total debasement of it's primary currencies, was a shadow of it's former self by the mid 4th century and by the end of the 5th had completely collapsed.
If we are to prevent history from repeating itself, avoiding total global economic collapse which would see humanity go back to the dark ages, we have to move to a hard money standard.
This is why we Bitcoin, Bitcoin fixes the money and shifts our trajectory away from collapse and back towards prosperity. We CAN learn from #history, and by choosing Bitcoin we are responding to our current situation in order to avoid repeating it.
https://vaulted.com/nuggets/the-roman-denarius/
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