rasputin on Nostr: They still had to debase to pay their armies and magnates when they were fighting ...
They still had to debase to pay their armies and magnates when they were fighting wars on two or three fronts (Bulgars, Pechenegs, Normans in the West; Arabs and later Turks in the East) and constant civil wars in the 11th century. Michael IV was literally a money changer before he became emperor by marriage. In about 80 years the gold content in coinage dropped by about 70% and eventually they had to introduce coins struck in silver and copper
Published at
2025-02-17 12:18:39Event JSON
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