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When an empire goes bankrupt - inflation in ancient Rome and in present day United States
There are striking similarities between present day United States and the Roman empire. The decline of Rome went hand in hand with inflation, and the constant debasement of its currency - the Denarius. It was also characterized by military over-extension, an abundance of entertainment and welfare, political turmoil and sexual promiscuity. This process culminated in the crisis of the third century (235 - 284 AD), when Rome experienced a hyperinflation and the value of the Denarius collapsed. It is said that “in the second century, a modius of wheat was sold for half a Denarius. The same modius of wheat sold in 335 AD for over 6000 Denarii, and in 338 AD for over 10,000.” The empire managed to survive this crisis, but was weakened by it, and eventually collapsed between 376 and 476 AD.
Is the United States facing a similar fate? Can Donald Trump stop this decline and indeed make America great again?
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#rome #empire #inflation #history #trump #money #silver #gold
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