Guess, when it happened?

After 50 years of growing prosperity became impossible to ignore.the consequences of budget expenditures, issue fiat money, the huge social costs and total trade deficit. Conducting business in the country became less profitable, while the excess money generated as unsecured issuance. The rapid growth of credit, splashed in the less developed regions, where economic growth was much more rapid. Stagnation demanded action, and President demanded that the Senate pass laws severely limited the chances of avoiding local taxes by investing abroad, and limited rate of consumer and mortgage lending. The consequences were immediate: the outflow of capital has increased sharply – investors sought to quickly hide assets and leave the market with low interest rates and credit growth. Banks were on the verge of bankruptcy. The state responded to the situation quickly enough: virtually unlimited issue was sent to the interest-free loans to banks for compensation liquidity problems. The fire was put out of the crisis due to a significant increase in total debt. Drop in consumption has been contained – for a while.

Answer: this story happened in 30-40 y. of age I AC in Romanian Empire under Tiberius management.

Roman Empire

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