First published by Money Metals Exchange here: https://www.moneymetals.com/news/2023/08/01/the-emperor-who-tried-to-bring-sound-economics-back-to-rome-and-paid-with-his-life-002786
<p><img src='https://www.moneymetals.com/uploads/content/the-emperor-who-tried-to-bring-sound-economics-back-to-rome-and-paid-with-his-life-social.jpg'/></p>History records countless examples of currency debasement, i.e., the steady reduction in a money&#039;s precious metal content or &quot;backing&quot; (principally gold or silver), followed in modern times by the introduction of fiat (unbacked) paper money, which then depreciates as governments print more and more of it to buy votes, run budget deficits, and spend like tomorrow doesn&#039;t matter.