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 ?
Mr Justice Wilkie told him he had misused his position to "persuade selected individuals to commit or submit to acts of physical or sexual debasement under the guise of being part of their austere regime of devotion when they were not".
The debasement campaign targeting GE-l has been strikingly similar to those that used to take place in the Communist party in the countries of the former Soviet Union.
The actual debasement of currency is an equally ancient concept.
The many cash-stretching measures that Deng mentions, including the "great debasement," came about because the royal government was trying to compensate for chronic scarcity, a paucity of coin, and this scarcity not only drove state formation, it also "hampered the Crown's quest to centralize and modernize the state." (15) The give and take between the Crown and its subjects, with coins as a medium, mattered a good deal.
''It is a debasement of the national parks idea,'' anti-nuclear watchdog Los Alamos Study Group co-founder Greg Mello said when the Interior Department two years ago recommended creating national parks at Los Alamos; Hanford, Wash.; and Oak Ridge, Tenn.
In order to have inflation, there must be some monetary debasement; indeed, monetary debasement and inflation are synonymous.
What really mattered was Milosz's loyalty to his own "poetic truth," a hallmark of great poets, and his lifelong fight against the (often political) "debasement" of language.
Connections both to the historical and to Conceptual art will emphasize the late artist's use of diverse strategies, from travesty to debasement and humor, to savagely critique the body's reification in art.
If the UK [fails] to get there, new superstar BoE chairman, Mark Carney, will follow the US Federal Reserve lead into more and excessive quantitative easing, leading to the further debasement of the sterling," he said
Debasement therefore has probably got a long way to run.
Just to remind readers, this involved systematic phone-hacking, persecution of victims, a total disregard for the truth and debasement of the whole concept of journalism.
Juxtaposed with Griffin's comments about race the week before, "First Take's" segment made for the worst type of racial debasement, lowering a man by needlessly questioning his identity and creating stereotypes out of thin air for the sake of a cheap talking point.