Saturday, 17 December 2011

Stealing from the public if you devalue

According to the Nero: Ancients Behaving Badly, Discovery History
program, the Romans would have lynced their emperor if they find him
devaluing their currency by diluting the silver coins. Actually Nero
did devalue the Roman currency by using a core that is only 80% pure
silver. This devaluing of currencies is much easier when paper
currencies are used. Only the strongest economies such as Germany and
Singapore defends their currencies. Brunei, by tying with Singapore,
also enjoy the benefits of a currency that does not devalue. Most
other nations devalue their currencies as a financial planning move,
supported by many economists. I agree with the ancient Romans. It is
just bloody theft of public money if you devalue the national
currency. It has never led to prosperity to the nation. Only miseries
and poverty as shown by Malaysia and Indonesia.

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