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<p>[QUOTE=&quot;Steelers72, post: 12127639, member: 112504&quot;]We all follow the market conditions to some degree, and it is interesting to see the parallels of today’s society with that of the Roman Empire.</p><p><br /></p><p>Our financial system is wholely dominated by that of the trust-based fiat system; unlike the bronze, silver, and gold coins the ancients used.</p><p><br /></p><p>Today, one can see in the news the Fed and Central Banks are actively attempting to tame the fires of inflation.&nbsp; With some months inflation rates lower than others &amp; vice versa, the broad picture remains the same - Inflation is all too high.</p><p><br /></p><p>There’s a lot we can learn from the Ancient Romans, but the ultimate direction of the financial system depends on the actions of those in charge of the currency printing press.</p><p><br /></p><p>The Federal Bank of St. Louis had an interesting assignment for students where inflation in the Roman Empire was a topic of study.</p><p><br /></p><p>A few interesting snippets from the Fed’s assignment with some of my own commentary:[ATTACH=full]1527395[/ATTACH]- 1 modius = 1/4 bushel</p><p>- The average cost of a bushel of wheat in 1800 was around $1.82. Today, a bushel of wheat is $8.77. (~380% increase)</p><p>- I wonder how much it would cost for a dozen eggs in Ancient Rome.</p><p><br /></p><p><br /></p><p>The content of silver in Roman denarii during the reigns of several emperors:</p><p>[ATTACH=full]1527400[/ATTACH]</p><p><br /></p><p>- On July 23, 1965, President Johnson approved the Coinage Act of 1965, which removed silver from circulating coins and authorized that clad coins be used for the half dollar, quarter, and dime.</p><p><br /></p><p><br /></p><p>A few interesting Ancient quotes for thought or discussion:</p><p>[ATTACH=full]1527403[/ATTACH] [ATTACH=full]1527404[/ATTACH]</p><p><br /></p><p>Link to the St. Louis Fed assignment: <a href="https://www.stlouisfed.org/-/media/project/frbstl/stlouisfed/education/lessons/pdf/inflation_and_the_fall_of_the_roman_empire.pdf?la=en" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.stlouisfed.org/-/media/project/frbstl/stlouisfed/education/lessons/pdf/inflation_and_the_fall_of_the_roman_empire.pdf?la=en" rel="nofollow">https://www.stlouisfed.org/-/media/project/frbstl/stlouisfed/education/lessons/pdf/inflation_and_the_fall_of_the_roman_empire.pdf?la=en</a></p><p><br /></p><p>A silver Roman Denarius of Nero (~90% silver content)</p><p>[ATTACH=full]1527405[/ATTACH]</p><p>Nero (AD 54-68). AR denarius (3.42 gm). RSC 119. Nero facing right Caesar Augustus. Reverse Jupiter seated left</p><p><br /></p><p><br /></p><p>Post your comments and ancient coins - whatever their metal content may be.[/QUOTE]</p><p><br /></p>

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