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3
votes
2answers
42 views

Why did overestimated coins led to inflation and well-estimated coins to deflation?

It is said in Debt, the first 5,000 years by David Graeber (chapter 4, note 2) that when the value of metal coins represented exactly their weight, the result was deflation. The author says that when ...
12
votes
3answers
275 views

What were the factors that caused the world to move away from the Gold Standard in the 20th century?

For most of the world's history for thousands of years, gold was used as the medium of exchange for money. The world gradually moved off the gold standard in the 20th century. What were the factors ...
23
votes
5answers
670 views

Has a state ever “attacked” another one by printing fake money?

Has any state ever performed an "economic attack" against another state, by printing fake money of the victim's currency? Or, is it known if someone ever considered doing it, and which were the ...
5
votes
1answer
212 views

What happened to the wealth of the Roman Catholic Church accumulated over the ages?

At one point in history, the Roman Catholic Church was the largest land owner in Europe. Given the power of compounding, the length of time for the compounding to take effect plus the huge principal ...
2
votes
1answer
121 views

When did Germany begin to store it's gold deposits abroad? [closed]

I just learned from this question that Germany is storing it's gold reserves around the globe. When did this practice start? What was occurring at that time that drove the decision? And an ...
5
votes
1answer
162 views

Until 1600, was it legal to counterfeit money?

Forging money or currency is more often called counterfeiting and, as is well known, the counterfeiting of money is usually attacked aggressively by today's governments. But, generally speaking, was ...
3
votes
1answer
87 views

How was money transferred before digital transactions?

Take, for example, the late 18th century and pre-French Revolution. The American War of Independence (1775 - '83) and the Seven Years War (1754 - '63) were financially ruinous for Louis XVI's France, ...