July 2011 Forest & Trees Report
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Forest & Trees report July, 2011 Becker Advisory Services Issue 3 BeckerAdvisory.com 1 SHORT STORY OF MONEY “With few exceptions the Emperors of the third century pursued a policy of wasteful expendit ures. Personal ex travagance, donatives to the populace at Rome, costly civil and foreign wars, in which the pandering to the greed of the soldiery was a condition of success, had drained the wealth of the provinces. The conception of a national debt was a foreign to the Emperors of the third century as it had been to the statesmen of the republic. Instead to give an air of super ficial superiority a resort had been made to a policy of inflation.” - H.M.D. Parker - A history of the Roman world AD 138-337 Y es, I am a historian. I will admit that I enjoy r eading about ancient wars and societies. I also like reading a bout ancient economies and monetary systems. Almost every time I mention that I studied history the response is, “I hated history .” Sorry! What follows might not be too boring though. If you live in the western world in the year 2011 history can certainly teach you a few things about what may come next. There have not been many occurrences in history where an empire held a reserve currency . One interesting point to note is that the money of Rome, Byzantium, Florence, Britain, and America have all either suffered or are suffering from devaluation thr ough inflation. Perhaps we can get a sense of what to expect from looking at other experiences. In this issue: FOREST Short story of money Roman references Charting the Forest TREES What is CPI Who and how Charting the Trees DISCLAIMER To subscribe to this report: Click here to sign up In addition to this report you will also receive Becker Advisory Services Weekly Market Commentary. We will not spam your inbox. Click here for our privacy policy
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