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<p>[QUOTE=&quot;TypeCoin971793, post: 4984019, member: 78244&quot;]My most interesting is far and away this knife coin cast by Wang Mang between 7 and 9 AD. These were cast in an attempt to nationalize the wealth of ancient China, at a rate of two ounces of gold to one of these knives. The entire population of China was forced to turn in their gold, likely under the penalty of death. </p><p><br /></p><p>This was done to consolidate the wealth (AKA political power) into the hands of Wang Mang so that no one could afford to raise an army against him. Right before Wang Mang usurped the throne in 9 AD, he had these knives demonetized (AKA worthless), destroying both the actual and fiat wealth of China’s elite. This one action proved that Wang Mang’s fiat coins could not be relied on, which pulled the rug of doom out from under Wang Mang’s reign. The following 14 years are a tale of woe, suffering, corruption, tyranny, and mass death, the likes of which could not be compared to until WWII.</p><p><br /></p><p>Wang Mang was arguably the world’s first socialist/communist, and the spectacular failure of his reforms speak literal volumes about the efficacy of such systems. The coin below is arguably what started it all.</p><p><br /></p><p>It is also interesting in the fact that it was once owned by an ancient Chinese noble. </p><p><br /></p><p>[ATTACH=full]1197348[/ATTACH][/QUOTE]</p><p><br /></p>

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