there was no paper currency – only coins . they contained precious metals ( silver ) in them . when the new kings would come in , they would want to preserve the silver in their treasury and would create coins with less silver content in them.
this was noticed by people and as a result , the coins started losing value and it would take more coins to buy the same amount of goods , resulting in inflation – the value of goods going up .
today , as a result of money printing by us central bank ( fed reserve ) , ecb (european central bank ) and the central banks of other countries , the same thing is happening – paper currency / fiat currency is losing it’s value and pretty soon , the inflation will start – things will start costing more.
the real currency ( precious metals – gold , silver and platinum ) will have hyberbolic moves upwards ….
As we speak , as of July 10 2020 , gold has touched a new 10 year high of 1810 us dollars per ounce and most experts concur that this is just the beginning of the big move upwardsAdd to favorites