Debasement


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Debasement

The act of lowering the value of something, especially a coin. In the past, a government would melt coins down and mix them with a metal of lower value in order to create more coins of the same denomination. This inevitably caused inflation, though it is unclear how well these governments understood that. Because few currencies are now based on a precious metal, debasement it rare.
References in periodicals archive ?
As an obsessive student of global money markets, I instinctively grasp that the endgame of every central banking money printing spree is a stealth devaluation, the debasement of the currency that Vladimir Lenin said was the surest road to Soviet serfdom.
In recent years, as "money" became nothing more than paper whose value is defined by fiat, debasement became the only source of inflation.
Gold is up 27 per cent this year and is heading for a 10th annual gain, the longest winning streak since at least 1920 in London, partly on demand for an alternative asset to protect against the debasement of currencies.
SIR - Like myself, William Probert (Letters, Sept 18) deplores the debasement of the Welsh language.
The song is being distributed for free and takes aim at the Federal Reserve's runaway money creation policy that's pushing America towards an era of currency debasement and potential hyperinflation.
One of the main reasons why education in Wales is in such a shocking state is surely due to the debasement of the English language.
Gold's rally in the past few years has been driven by the debasement of fiat currencies and concerns about budget deficits.
Debasement served to cheapen the manufacture of coins.
Catherine spoke in Mill Valley in 2004, recording her speech "Navigating the Falling Dollar" which predicted the eventual collapse of the housing bubble and the risks of debasement.
The three rounds of QE from the Fed have helped gold stage a record-breaking rally in the past few years as investors have worried about currency debasement due to money-printing and have sought to store value in gold.
The answer -- foreshadowed in the first chapter, where Gaudi, Asplund and Loos are shown reacting against the gradual debasement of the orders from metaphor to fancy-dress -- is withheld to the last.
Purification comes with further debasement and humiliation when, at the end of the ritual, the sheriff instructs Wylie, a local black man he had brought to the "party," to "lick [Card] clean.