The seven stages of empire
A good explanation of how monetary systems evolve starting out fair with real money and then slowly debased and corrupted to pay for expansionary wars, public works largesse and some pure waste.
Finally the currency is abandoned often with the empire that minted it, and the cycle starts again.
which stage of they cycle are we at, make up your own mind.
Posted on August 21, 2013, in Consiousness, Economics & Finance, Education, History, Law & Government, Monetary system, Video and tagged fiat currency, Gold, War. Bookmark the permalink. Leave a comment.