The Gallic Empire (Latin: Imperium Galliarum) was a breakaway realm of the Roman Empire led by Postumus (260-268AD) that existed from 260 to 274AD in the aftermath of the Persian capture of the Roman Emperor Valerian I (253-260AD) in 260AD. That set off a Financial Crisis in 260AD, where some even questioned if Roman coins were still valid. This Monetary Crisis of the Third Century AD saw the separation of the Roman Empire into three empires.

The Gallic Empire split from Rome and incorporated Britain, France, and parts of Spain. Postumus founded it in 260 AD. Valerian I was captured for once, and Germanic barbarians also began to invade, assuming that Rome was then vulnerable. The crisis led to people hoarding their money, and a great recession unfolded. The coinage began to be debased as silver was in short supply. This was the start of the collapse of Rome's monetary system.

This is a set of two Antoninianii, one of the first issues in silver, and the latter issue debased into just bronze. The early silver issues are much rarer since the debased took place rapidly.

  The Gallic Empire (Latin: Imperium Galliarum) was a breakaway realm of the Roman Empire led by Postumus (260-268AD) that existed from 260 to 274AD in the aftermath of the Persian capture of the Roman Emperor Valerian I (253-260AD) in 260AD. That set off a Financial Crisis in 260AD, where some even questioned if Roman […]

Perhaps one of the most famous discoveries from Pompeii is known as the Boscoreale Treasure. This discovery came to light in 1895, when the treasure was uncovered among volcanic ash from the eruption of Mount Vesuvius on August 24, 79 AD. In 1895, excavations at a Roman villa at Boscoreale on the slopes of Vesuvius […]

The reason there is a shortage of cash developing around the world is rather straight-forward. The trust in the government is collapsing. Italy has just lowered the legal amount someone can pay for anything in cash from €3000 to €2000. Australia made it a criminal act to pay for anything with A$10,000 or more (US$7,000).  […]

QUESTION: Marty, living in Europe where the talk about the elimination of cash is loud I am asking myself what is planned for foreign currencies, e.g. USD, one holds in cash at home? They can´t forbid it because foreign exchange is needed for traveling. Even when they forbid it, there must be the possibility to […]

QUESTION: Mr. Armstrong; You pick themes that are not really just political on the surface, but beneath you are connecting the dots economically. This is what I read between the lines for you do not always emphasize it in every post why you will address issues like migration and civil unrest. Are these serious issues […]

Perhaps one of the most famous discoveries from Pompeii is known as the Boscoreale Treasure. This discovery came to light in 1895, when the treasure was uncovered among volcanic ash from the eruption of Mount Vesuvius on August 24, 79 AD. In 1895, excavations at a Roman villa at Boscoreale on the slopes of Vesuvius […]

In ancient times, whenever there was a rise in war or political uncertainty, the human reaction was to hoard money. The hoard of ancient Roman coins 3rd century we purchased for study from Britain years ago reflected coins of both the Roman Empire and the Gallic Empire. Even the debased coinage was being hoarded. This […]

In the United States, there was approximately $1.29 trillion in circulation as of October 1, 2014, of which $1.25 trillion was in Federal Reserve notes. Interesting enough, this was nearly matched now by the Euro. According to the European Central Bank , which publishes its balance sheet every week, circulating euro banknotes has just crossed the […]

QUESTION: Mr. Armstrong. Does deflation  accompany hoarding of cash and the velocity you speak of declines? Is this the trait that you write about and part of the reason gold has declined? ANSWER: People simply save money in times of uncertainty. This is one aspect we have to watch with the turning up of the […]