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Why did most ancient civilizations debase their currency over the centuries?
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<p>[QUOTE="scottishmoney, post: 7689068, member: 12789"]One very strong argument for Queen Elizabeth's mark in history is that she cleverly aligned herself with sage advisors, in the financial realm that was Thomas Gresham of Gresham's Law - "bad money drives out good" Which is why they drove out the bad money and brought back sterling coinage - it solidified the realm. Other countries in Europe were dilly dallying with billon etc coinage think Spain, France etc and their powers waned whilst England was at a zenith culminating in the resounding defeat of Philip's forces in 1588.[/QUOTE]</p><p><br /></p>
[QUOTE="scottishmoney, post: 7689068, member: 12789"]One very strong argument for Queen Elizabeth's mark in history is that she cleverly aligned herself with sage advisors, in the financial realm that was Thomas Gresham of Gresham's Law - "bad money drives out good" Which is why they drove out the bad money and brought back sterling coinage - it solidified the realm. Other countries in Europe were dilly dallying with billon etc coinage think Spain, France etc and their powers waned whilst England was at a zenith culminating in the resounding defeat of Philip's forces in 1588.[/QUOTE]
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