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Em. Spain, famously, didn't debase its currency. The gold escudo was 22-karat for basically it's entire existence,.
by Aloisius 2y ago
Em. Spain, famously, didn't debase its currency.
The gold escudo was 22-karat for basically it's entire existence,.
- TeaBrain 2y agoI was more thinking in terms of the modern conception of currency debasement resulting from the increase in the monetary supply, though I think I must have just been thinking of the real, not the escudo. Several years ago, I read a couple of books on the conquistadors, where the details of the devaluation of silver was discussed, but it's been a while since the information was fresh in my mind.