Right On 👍
People used to be paid in precious metal coinage.
Sometimes that coinage was debased, sometimes it was real.
We don’t pay people in precious metals from our coin purse anymore.
We usually pay them in electronic fiat, but we’re starting to see people pay in bitcoin.
indeed it was debased. When Mansa Musa travelled through North Africa and parts of the Middle East on his way to Mecca, he handed out Gold like it was candy, which lead to severe debasing of gold due to over supply.
I believe on the way back he collected some of it just to help regulate the economies of Italy, Greece, Egypt etc.
Indeed, also the Spanish flooded the gold markets with their spoils of the New World which led to an economic crash.
