Handwriting On The Wall

This famous phrase refers to a story told in Daniel 5:1-30. The actual phrase was “mene, mene, tekel, parsin” – three names for units of currency. In those days, a unit of currency was a specific weight of a metal just as, for a time in America, a dollar coin was defined as371 4/16 grain (24.1 g) pure or 416 grain (27.0 g) standard silver.

The King is told that “you have been weighed in the scale and found wanting”, referring to a common practice used to test the soundness of a coin: put it on a scale and compare it to a standard.

Throughout history, great empires have debased their currency, clipping coins and adulterating them in order to cheat the people. Nowadays, the Federal Reserve performs this same service for America – with much the same results: higher prices, redistribution from the rest of us to the 1%, increased centralization of power and increased dissatisfaction of the rest of us, and the famous boom/bust cycles.

http://mises.org/library/reformulation-austrian-business-cycle-theory-light-financial-crisis-0

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