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Dan Norcini continues:

The Roman empire began to decline morally to the point where its own philosophers were expressing dismay over the decay.  The military also began to decline as more and more of its ranks were constituted by mercenaries.  At the same time, military incursions by the barbarians on the fringes of the empire were on the rise. 

Public spending continued unabated, with successive emperors opting to further increase the already onerous tax burden on the people....

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“There were other factors, but the steady erosion of faith in the money system played a big role in the collapse of the empire.  The rulers had begun to debase their coinage.  They adulterated the metal content of the coins.  When the merchants caught on that there wasn’t the same amount of silver in the coins, as an example, they raised the prices.  This, of course, created a great deal of inflation.

The emperors responded to the inevitable inflation by issuing price controls under edict of death.  Without the ability to raise prices, merchants were unable to sell at a profit, so Rome experienced chronic shortages of many goods.  Some merchants were forced to close down their shops.  Others were a bit more creative, if not daring – they sold goods ‘under the table’ on the black market.


The bottom line is the merchants began to understand how the monetary authorities (emperors) were corrupting the money by debasing it.  It’s complicated, but let’s just say that as this debasement of the coinage continued, inflation spiraled out of control, the currency collapsed and the empire eventually fell.


The combination of rising prices and rising taxes gave birth to an exodus out of the empire by many of its citizens.  Unable or unwilling to comply with the onerous tax burden, some simply abandoned their estates and homes and moved elsewhere.


By the time the end had come, in many cases, the citizens were actually relieved to see Rome fall.  Citizens began to think the new rulers would be less oppressive than their former masters.  Where I am heading with this, Eric, is that I see disturbing parallels between ancient Rome and the United States.


People tend to forget that Emperor Constantine and many of the extremely well-connected Romans went to form the city of Constantinople (modern-day Istanbul).  That Eastern empire endured for another 1,000 years because they had gold and other honest forms of money.


The bottom line is the fabric of Roman society and the institutions became corrupt and this weakened the empire, both internally and then externally.  This ultimately lead to the fall of the empire.


The US has entered a similar period of decline.  The political system is broken and corrupt, and the major financial institutions now resemble criminal banking syndicates.  If history is a reliable guide, one thing you can be assured is this will end badly. 

When people ask themselves, ‘What can I do to protect myself and my family?,’ the answer is no different than what is was many centuries ago, as Rome was collapsing.  Get your hands on honest forms of money.  Back then it was physical gold and silver, and it remains the same today.”

Be sure to listen to this week’s incredible line-up of KWN audio interviews, which include Art Cashin, John Hathaway, Stephen Leeb, MEP Nigel Farage, Gerald Celente and Jim Sinclair.  You can listen to these outstanding interviews by CLICKING HERE.

© 2012 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.

Eric King

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