"Look at the Roman empire with an absolute ruler. They inflated the currency steadily for hundreds of years and eventually the whole roman empire collapsed. It’s the biggest long-run danger we have — next to nuclear war"
--- Charlie Munger
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@CharlieMunger00
That is a simplification. But yes - there was a great inflation - and a Diocletian solution.
The Diocletian solution lasted much longer than the Roman Empire. And the Roman Empire lasted a few hundred years after the taming of the inflation.
Sometimes Charlie is just wrong.
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@CharlieMunger00
Empire do not collapse for economic reasons only. Right now nothing threatens the USA except itself and it’s bipolar politic. America will have though times but the rest of the world will have it worse. Roman Empire lasted a 1000year, US as long way to go…
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