Bloomberg/Niall Ferguson/10-22-2022
“History shows that nothing causes fiscal and monetary instability quite like multiple big, long conflicts.”
USAGOLD note: Ferguson offers considerable historical perspective on empires in this lengthy essay and ends with a warning that “we must not make the mistake of assuming that the US is an indestructible empire, for there is no such thing.” With that, he echoes the thinking of important historians of the past – Gibbon, Toynbee, Quigley – among others.
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