One of the most potent and underappreciated forces responsible for the downfall of the most powerful empires throughout history has been debt.
While military defeats, political upheavals, and external invasions often dominate historical accounts of the fall of great powers, excessive debt—the “Empire Killer”—has quietly but relentlessly eroded the foundations of empires across the centuries.
From Rome to the Soviet Union, the over-extension of resources, poor financial management, and the inability to service massive debts have led to economic collapse, social unrest, and, ultimately, the demise of these once-mighty empires.
Understanding how debt has played a role in the fall of these empires gives us insight into the role it could play in the collapse of the US Empire.
Here is a summary of some prominent historical examples of this clear pattern.
One of the most iconic examples of debt’s destructive force is the Roman Empire.
At its height, Rome was the center of the known world, controlling vast territories, including much of Europe, North Africa, and parts of the Middle East.
Maintaining a vast empire required immense financial resources. The Roman government needed to fund its sprawling military, build infrastructure such as roads and aqueducts, and support the grandeur of its capital city.
Emperors financed the resulting debt by debasing the currency—reducing the silver content in Roman coins.
However, this led to rampant price increases and economic instability.
The more the Roman government tried to print its way out of debt, the worse the problem became.
As debt and inflation strangled the Roman economy, the empire struggled to pay its soldiers, undermining military morale and effectiveness.
Weakened by internal financial collapse, Rome became vulnerable to external threats. The combined weight of financial mismanagement, social unrest, and military decline led to the empire’s collapse.
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