133 - A Brief History of Inflation In The Roman Empire
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The Debasement Trick
Nero, who was maniacal, crazy, who ran things in the sixties, he did a pretty significant debasement. He pulled some fast ones with how the coins, what they weighed and what they were valued at. And so now we're starting to see thatwhen roman soldiers take their denarius out the edges of the the empire and they go to buy things. Savy traders out at the edges are like, yo, that says rome on it, but this isn't like what your coinage used to be.
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