Whatever Happened to Penny Candy

We don't have really bad inflation right now, but in the 1970's and 1980's there was double-digit inflation. This is where inflation is rising at the rate of 10% or more. But history repeats itself. The Romans tried to secretly clip the edges of the coins and make new ones with the clippings. The people caught on, and decreased the value of the clipped coins. So the government tried a new thing. They added more medals of lesser value than silver. So the people hoarded the good coins, and used the bad ones. That is the natural reaction to bad coins. They drive the good coins out of the market. This has happened with American money, too. Now we have clad coins, but not the real silver ones. Those were hoarded by the people who have them. Now coins are really tokens, because real coins are made of precious medals. Bell