How often do you think about the Roman Empire? Unless you've been living under a rock for the past month, you know that the answer, at least for men, is every day.
How often do you think about the Roman Empire? Unless you’ve been living under a rock for the past month, you know that the answer, at least for men, is every day.
The Roman system of measures and the names of coins influenced the international monetary system through the naming system of pre-decimalisation British coinage. The pound , shilling , and pence symbols derived from the Roman libra, solidus, and denarius. But the laws of economics are universally valid, and that short-term benefit eventually disappears. Once the money supply doubles, prices inevitably rise to reflect the increased amount of money circulating in society.
According to the government’s own inflation statistics, the U.S. dollar has lost 97% of its purchasing power since 1913. And if you look at the dollar’s performance against gold, which was $35 an ounce in the early 1970s, the dollar’s purchasing power has lost over 98% in just over 50 years. Much like ancient Rome, it will likely only be a matter of time before the U.S. dollar completely collapses. How long that will take is anyone’s guess. But with a national debt of over $33 trillion, and annual budget deficits that run in the trillions, the U.S. government isn’t exactly trying to make it easier to keep the dollar from weakening.The fall of the Roman Empire was a cataclysmic event for Western Europe.
The numerous parallels between the decline of the Roman Empire and the decline of American political and economic hegemony are numerous. It’s only natural for Americans to worry about what the future will look like, not only for ourselves but for our children and grandchildren.
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