tag:blogger.com,1999:blog-2098432983500045934.post4991155134135551157..comments2024-03-12T22:19:32.339-04:00Comments on The New Arthurian Economics: John Munro: The chief object of debasementThe Arthurianhttp://www.blogger.com/profile/16501331051089400601noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-2098432983500045934.post-77860622619079698302015-05-01T17:57:43.614-04:002015-05-01T17:57:43.614-04:00I trust that my readers will *try* to understand m...I trust that my readers will *try* to understand me. I trust they will try *not* to misunderstand me, bullshit me, or crap in my garden like the neighbor's dog.<br />The Arthurianhttps://www.blogger.com/profile/16501331051089400601noreply@blogger.comtag:blogger.com,1999:blog-2098432983500045934.post-6010745736112711162015-05-01T17:52:55.889-04:002015-05-01T17:52:55.889-04:00"Hey Art-
FYI That quote is actually not in t..."Hey Art-<br />FYI That quote is actually not in that wiki link you provided."<br /><br />Jesus <a href="http://2.bp.blogspot.com/-_iDKe0sHMFo/VUP0F279QkI/AAAAAAAANlU/DDkBtyhcSNc/s1600/'cry%2Bup%2Bthe%2Bcoinage'%2B--%2BWikipedia.png" rel="nofollow">fucking</a> Christ, Auburn. Did you even look?<br />The Arthurianhttps://www.blogger.com/profile/16501331051089400601noreply@blogger.comtag:blogger.com,1999:blog-2098432983500045934.post-4649894298334558762015-05-01T16:42:34.712-04:002015-05-01T16:42:34.712-04:00Hey Art-
FYI That quote is actually not in that w...Hey Art-<br /><br />FYI That quote is actually not in that wiki link you provided. That is one confused ass wiki page. So many contradictions and misleading interpretations. And so many things left out. <br /><br />Anonymoushttps://www.blogger.com/profile/15433129947896088098noreply@blogger.comtag:blogger.com,1999:blog-2098432983500045934.post-37135709125817559602015-05-01T04:54:53.733-04:002015-05-01T04:54:53.733-04:00"All state metal money is fiat by definition ..."All state metal money is fiat by definition so they could have just stamped 10 schillings on a given piece of metal instead of 5 schillings and poof you've made 'more money'"<br /><br />"the king would either debase or <b>cry up the coinage (i.e. raise the face value of coins)</b>." -- <a href="http://en.wikipedia.org/wiki/Debasement" rel="nofollow">wikipedia</a><br />The Arthurianhttps://www.blogger.com/profile/16501331051089400601noreply@blogger.comtag:blogger.com,1999:blog-2098432983500045934.post-35322342200045088912015-04-30T08:38:35.022-04:002015-04-30T08:38:35.022-04:00I have always found the whole "debasement&quo...I have always found the whole "debasement" thing rather confused. Why would you have to clip the metal off your coins in order to create more money? All state metal money is fiat by definition so they could have just stamped 10 schillings on a given piece of metal instead of 5 schillings and poof you've made "more money" with the same amount of coinage. <br /><br />Metal money was no different than paper money in this sense. The instrinsic value of the metal content was never equal to the nominal value. Or if it was, that was simply by decree which is to say, by fiat of the Government.Anonymoushttps://www.blogger.com/profile/15433129947896088098noreply@blogger.comtag:blogger.com,1999:blog-2098432983500045934.post-60110600178558253672015-04-30T04:23:04.073-04:002015-04-30T04:23:04.073-04:00John Munro at IDEAS:
The Technology and Economics...John Munro at IDEAS:<br /><br /><a href="https://ideas.repec.org/p/tor/tecipa/tecipa-456.html" rel="nofollow">The Technology and Economics of Coinage Debasements in Medieval and Early Modern Europe: with special reference to the Low Countries and England</a><br /><br />From the Abstract:<br /><br />"The purpose of this study is to demonstrate that aggressive debasements were generally very practical and effective, so long as they were properly devised to profit both the merchants who brought bullion to the mints and the princes who earned seigniorage revenues from those mints."<br /><br />There ya go.<br /><br />The Arthurianhttps://www.blogger.com/profile/16501331051089400601noreply@blogger.com