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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Skeeter Bug who wrote (104912)9/9/2009 3:27:54 PM
From: ayn rand1 Recommendation  Read Replies (1) of 110194
 
To look at the mentality of the Roman emperors, we can look just at the advice that the Emperor Septimius Severus gave to his two sons, Caracalla and Geta. This is supposed to be his final words to his heirs.

He said, "live in harmony; enrich the troops; ignore everyone else." Now, there is a monetary policy to be marveled at!

one of the reasons why the Roman state collapsed in the 5th century was that the Roman people, the mass of the population, had but one wish after being captured by the barbarians: to never again fall under the rule of the Roman bureaucracy.

In other words, the Roman state was the enemy; the barbarians were the liberators. And this undoubtedly was due to the inflation of the 3rd century. While the state had solved the monetary problem for its own constituents, it had failed to solve it for the masses. Rome continued to use an oppressive system of taxation in order to fill the coffers of the ruling bureaucrats and soldiers.

Inflation and the Fall of the Roman Empire

Mises Daily by Joseph R. Peden

from a transcript of Professor Joseph Peden's 50-minute lecture "Inflation and the Fall of the Roman Empire," given at the Seminar on Money and Government in Houston, Texas, on October 27, 1984. The original audio recording is available as a free MP3 download

mises.org
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