“In a period of about 370 years, the denarius and its successors were debased incrementally from 98 percent to less than one percent silver. The massive spending of the welfare/warfare state exacted a terrible toll in the name of either ‘helping’ Romans or making war on non-Romans. Financial and military crises mixed with poor leadership, expediency, and a clear misunderstanding of economic principles led to the destruction Rome’s monetary system.  Honest and transparent policies could have saved the Romans from centuries of economic hardships. The question future historians will answer is, ‘What did the Americans learn from the Roman experience?'”

http://fee.org/anythingpeaceful/detail/rome-money-mischief-and-minted-crises

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