Sunday, August 21, 2016

Gold and Roman Empire

Roman currency system was an open one as Rome was en empire based on gold and silver that was slowly and irreversible leaving outside the borders for imports.

They had no paper money as the print press has not been invented for another 1000+ years after the fall of the Empire.

Being extracted from different mining regions inside Roman territories currency was slowly bleeding outside the borders. Gold and silver from Dacia, the latest big addition slowly ended as coins started to be minted with less and less gold and more and more copper. In the last decades of the empire the currency was mostly copper. All the gold had already left the empire for exotic goods like silk from China, pearls from the Persian gulf, perfumes from India, ivory and grains from Africa, etc.

Population grew through annexations, import of slaves and natural growth. Various accounts include peak numbers between 70 and 130 million.

When gold ended, so the Roman Empire. Soldiers could not be paid anymore to defend the borders.

All that gold spent outside the borders for hundreds of years attracted more and more "barbarians" at the borders of Rome who first came for trade. Chinese from China had an outpost in today's Romania at the end of the silk road where there is still a minority population in Roman and Bacău counties called Changu - ceangu in Romanian.

https://www.google.com/search?q=history+of+china

China itself developed as an empire around the same time with Rome. Is it possible it was also based on vast amounts of gold obtained by the Chinese from Romans in exchange for silk?
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