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Why did most ancient civilizations debase their currency over the centuries?
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<p>[QUOTE="Tejas, post: 7691083, member: 84905"]It is, for the debasing government, its agencies and everybody close to the government. As the new money disperses throughout the economy it gradually prices. This is called the Cantillon-Effect in economics. The losers are those who receive the new money last - usually those on fixed incomes, pensions and grants.</p><p><br /></p><p>It is exactly the same with a private money forger. Like the government, the money forger creates new money and purchases goods and services with the new money at prices that have not been effected by the increased money supply.[/QUOTE]</p><p><br /></p>
[QUOTE="Tejas, post: 7691083, member: 84905"]It is, for the debasing government, its agencies and everybody close to the government. As the new money disperses throughout the economy it gradually prices. This is called the Cantillon-Effect in economics. The losers are those who receive the new money last - usually those on fixed incomes, pensions and grants. It is exactly the same with a private money forger. Like the government, the money forger creates new money and purchases goods and services with the new money at prices that have not been effected by the increased money supply.[/QUOTE]
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