Then said Jesus unto his disciples, If any man will come after me, let him deny himself, and take up his cross, and follow me. ~Matthew 16:24

Keynesian Economics in the ancient world?

Posted: 2016-09-09

In ancient Rome, the primary unit of money used was the Denarius. When it was first put into circulation, these coins were 98% silver. The politicians figured out that they could cheat the public by reducing the amount of silver in the coin. So, from 211BC when the coin was introduced until the late empire, the coin was debased until, by the late 3rd century AD, it was only coated with a thin silver wash; almost no silver.

https://en.wikipedia.org/wiki/Denarius )

Today we call that “quantitative easing” or Keynesian economics

 

 

So, how are we doing today? How much has our currency been debased?

In 1935, the “Peace Dollar” was 90% silver / 10% copper

http://www.coinflation.com/coins/1921-1935-Silver-Peace-Dollar-Value.html

 

 

How much silver is in our dollar today? NONE!

 

Composition of today's US dollar coin:


88.5% copper, 6% zinc, 3.5% manganese, 2% nickel

 

http://www.coinflation.com/coins/2007-Presidential-Golden-Dollar-Value.html

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