When Nero debased the silver standard of Rome, he did not simply clip the coins. He left the denarias pure silver on the outside, and copper/silver inside. He hid his activities much like the fact that we are not to know what took place in the bailout of the financial industry.
Simply review the coinage history of the United States. Gold & silver were once highly concentrated in our coinage. After 1933, gold was removed. After 1964, silver was completely removed in nearly all coinage. After 1970, silver content was removed from all coins and replaced with copper/nickel clad. After 1982, copper pennies became mostly zinc. Recent coin introductions include a mixture of zinc/copper/magnesium/nickel. What's next?
As currency devaluation intensifies, it gets harder and harder to find an alloy mixture in which the face value is greater than the intrinsic melt value. This in large part explain the growing push for a credit or cashless society.
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