How 4,000 Roman Coins Found Buried In Swiss Orchard Reinforce Gold Ownership Today

By Michael Kosares – Re-Blogged From http://www.Gold-Eagle.com

“The coins’ excellent condition indicated that the owner systematically stashed them away shortly after they were made, the archaeologists said. For some reason that person had buried them shortly after 294 and never retrieved them. Some of the coins, made mainly of bronze but with a 5% silver content were buried in small leather pouches. The archaeologists said it was impossible to determine the original value of the money due to rampant inflation at the time, but said they would have been worth at least a year or two of wages.” –  The Guardian/11-19-2015

I was initially at a loss to explain why anyone would go to so much trouble to hoard so many coins with such a low silver content – about 5%.  The only rational explanation is that the hoarder had decided that even worse debasement was on its way.  And, a quick review of Roman history tells us that this indeed was the case.

In the next generation of the denarius, issued by Emperor Diocletian, bronze coins were simply dipped in silver and passed into circulation.  By 294AD, the latest date in the hoard, Diocletian abandoned silver coinage entirely and began issuing bronze coins instead. Prior to that, prices had risen over a roughly twenty year period by 1000%.  Value-conscious barbarian troops hired by the emperors demanded to be paid in gold aureus and for good reason as you will discover below. By the end of the third century, the currency was crumbling and along with it the empire.

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What Killed Economic Growth?

By Jeffrey Tucker – Re-Blogged From FEE: The Foundation for Economic Education

Debating why the economy is so sluggish is an American pastime. It fills the op-eds, burns up the blogosphere, consumes the TV pundits, and dominates the political debates.

It’s a hugely important question because many people are seriously frustrated about the problem. The recent popularity of political cranks and crazies from the left and right — backed by crowds embracing nativist and redistributionist nostrums — testify to that.

Sometimes it’s good to look at the big picture. The Economic Freedom of the World report does this with incredible expertise. If you believe in gathering data, and looking just at what the evidence shows and drawing conclusions, you will appreciate this report. It sticks to just what we know and what we can measure. The editors of the report have been doing this since 1996, so the persistence of the appearance of cause and effect is undeniable.

The report seeks measures of five key indicators of economic freedom: security of property rights, soundness of money, size of government, freedom to trade globally, and the extent of regulation. All their measures are transparent and heavily scrutinized by experts on an ongoing basis. If you question how a certain measure was arrived at, you are free to do so. It’s all there, even the fantastically detailed data sets, free for the download.

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America’s Standard of Living

cropped-bob-shapiro.jpg   By Bob Shapiro

How does the Standard of Living in an Economy grow?

During the Dark and Middle Ages, there was very little innovation. There was very little effort expended to find new ways of doing things – of finding ways to create more while using the same amount of effort.

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On Obamacare, It’s the President Who Refuses to Embrace Reality

By Peter Suderman – Re-Blogged From http://www.Reason.com

Obamacare turns five years old this week, and to mark the occasion, President Obama took after critics of the health law, noting their ongoing opposition while briefly laying out the reasons he believes it to be a success. “It’s time to embrace reality,” he said, according to The Hill.

The president ticked off a string of points in support of the law: an additional 16 million insured, 50,000 fewer preventable deaths, slow growth in health premium costs, and lower deficit projections as a result.

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