tag:blogger.com,1999:blog-25740524.post5505030324193398828..comments2024-03-11T13:16:19.098-04:00Comments on Ad Orientem: Memo to Ben Bernanke: How King Henry I dealt with currency debasementUnknownnoreply@blogger.comBlogger1125tag:blogger.com,1999:blog-25740524.post-40547630137237821872012-11-03T22:24:08.944-04:002012-11-03T22:24:08.944-04:00Spare me. Henry was a royal prick, outshone only b...Spare me. Henry was a royal prick, outshone only by the two truly extraordinary pricks who preceded him. Henry began his reign by promptly reducing the penny's weight and continued to avail himself of that option. Aethelred was rolling in his grave. The Moneyers' Assize was nothing more than a scapegoating for royal profligacy, including the Normandy war and First Crusade. Keep in mind that various lords (and ecclesiastical lords) employed the moneyers and received part of the minting profits. <br /><br />A more apt parallel wouldn't be Bernancke's policies, but Greenspan's scapegoating the commercial bankers for his monetary profligacy.Visibiliumhttps://www.blogger.com/profile/00069726201789314963noreply@blogger.com