People who focus on the decline and fall of the dollar are really into passing this chart around. A version of it was in the latest Martin Armstrong note, and SocGen’s Dylan Grice used it in a recent presentation.
It shows, basically, that currency debasement is as old as currency itself, as Romans gradually chipped away at the amount of silver in their coins.
The further lesson, from history, apparently, is that in addition to currency debasement being a characteristic of great empires, total collapse is, too. Good times.
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