Currency reform in Ancient Rome

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He reduced taxes and attempted through various means to end the “singular system of annihilating capital and ruining agriculture and industry [which] was so deeply rooted in the Roman administration”.[21] At the same time, though, he subsidized literature, art and science and socialized education.When invaders from Gaul threatened the Empire, Severus Alexander attempted to buy them off rather than engage in a pitched, costly battle. This, once again, angered the legionnaires, who elevated General Maximinus as the new emperor. The military rebelled and, like Pertinax and Macrinus before him, Alexander Severus was executed.Over the next three years, Maximinus doubled soldiers’ pay and waged nearly continual warfare. Taxes were raised, with tax-collectors empowered to commit acts of violence against delinquent or reluctant payers, as well as to summarily confiscate property for citizens in arrears.Over the next five decades,

 

  • [e]mperors … debased the silver currency and raised taxes during what they perceived to be a temporary crisis, expecting windfalls of specie from victory, but war had changed from profitable conquest to a grim defense … The Roman world was treated to the spectacle of imperial mints annually churning out hundreds of millions of silver-clad antoninaniani by recycling coins but a few years old [which] removed older coins from circulation and destroyed public confidence in imperial moneys.[22]

 

Characteristic of all monetary collapses, as the denarius rapidly withered into a billon trinket Roman citizens developed odd, if essential, skills – the most noteworthy of which were extracting the thin silver coating from otherwise worthless coins and fluency in the social language of monetary failure: barter.

via Currency reform in Ancient Rome « Adam Smith Institute.

Bill Gates and his wife give $1 million to gun control

Microsoft founder Bill Gates and his wife Melinda have together donated $1 million to the Washington Alliance for Gun Responsibility, a gun control advocacy group, according to its most recent financial report with Washington State.

via Bill Gates and his wife give $1 million to gun control push – Aug. 26, 2014.

Nine-year-old shoots instructor at shooting range, sparks gun control debate

The gun control debate is raging again after a nine-year-old accidentally shot and killed her instructor.  It happened during a shooting lesson at a gun range in Arizona.  The instructor has been identified as 39-year-old Charles Vacca.  He was standing next to the girl, teaching her to use an Uzi sub-machine gun.  A video released by investigators shows the girl, whose identity hasn’t been released, holding the weapon in both hands.  The recoil sent the gun over her head and Vacca was shot.

via Nine-year-old shoots instructor at shooting range, sparks gun control debate | WEEK News 25 – News, Sports, Weather – Peoria, Illinois | Top Stories.

What Gave Bitcoin Its Value?

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Many people who have never used bitcoin look at it with confusion. Why does this magic Internet money have any value at all? It’s just some computer thing that someone made up.

Consider the criticism of goldbugs, who have, for decades, pushed the idea that sound money must be backed by something real, hard, and independently valuable.

Bitcoin doesn’t qualify, right?

Maybe it does. Let’s take a closer look….

But Mises added that the value of money traces backward in time to its value as a bartered commodity. Mises said that this is the only way money can have value.

via What Gave Bitcoin Its Value? : The Freeman : Foundation for Economic Education.

GREAT REVIEWS: Tactical Low Concussion Linear Rifle Muzzle Brake TLC/CQB

Tactical Low Concussion Rifle Muzzle Brake

Amazon Customer states:

Matches my fluted barrel. Awesome when paired with a Hydraulic Buffer for LR 308. I can shoot at the range without worrying about the people next to me.

via Amazon.com: Customer Reviews: Tactical Low Concussion Linear Rifle Muzzle Brake TLC/CQB (1/2-28 for 0.224 bore or smaller).

If Bitcoin Continues Growing, It Could Be Considered Legal Tender in Australia, Official Says

Bitcoin

While most governments today will scoff at the idea of considering bitcoin to be legal tender, Australia is closely monitoring developments in the growth of this digital currency.  And while they share the sentiments of other world governments in that bitcoin is not legal tender, they aren’t nailing shut the door on the possibility that it could happen in the future.

via If Bitcoin Continues Growing, It Could Be Considered Legal Tender in Australia, Official Says | NEWSBTC.

JPMorgan Warns Military Escalation In Ukraine “May Lead To A Lehman-Style Shock”

The sudden military escalation in Ukraine in recent days has, according to JPMorgan’s Alex Kantarovich, reduced the earlier hopes that the high level meeting in Minsk on 26 August would help to defuse the conflict. As Kantarovich warns, the markets are now bracing for the US/EU responses. In the worst case scenario, now appearing more likely, severe pressure on stocks may extend. As he concludes, “we believe that with the significant deterioration in the Ukrainian situation, markets may treat this as a Lehman-style shock.”

via JPMorgan Warns Military Escalation In Ukraine “May Lead To A Lehman-Style Shock” | Zero Hedge.

Active Army Special Forces member’s Jaw-Dropping letter to America’s politicians

 

In 2001, a mixture of CIA, Special Forces and other Special Operations Forces (SOF), in very limited numbers, swept through the entire country of Afghanistan, demolishing the Taliban forces that stood in its way. Thinking that the back had been broken, we backed off and brought more and more ground forces in the country.

As time went on, more and more troops arrived and operational control was taken away from the Special Operations types, to make way for conventional commands. Along with this came more and more restricted Rules of Engagement.

via Active Army Special Forces member’s Jaw-Dropping letter to America’s politicians – Wounded American Warrior.

Assault Weapons Bans Do Nothing To Curb Gun Violence

Remember in elementary school, when your teacher punished the entire class because of one kid who wouldn’t behave? Well, yesterday a federal judge ruled that the government of Maryland can punish all of the law-abiding gun owners in the state due to the actions of a few crazed individuals.

via Assault Weapons Bans Do Nothing To Curb Gun Violence.