However the Byzantine or Eastern Roman Empire hung on till 1453 and their gold Bezant was coin of the realm, of the world, for a very very long time
On the sublet of devaluation, I think of the process as being taught as Devaluation101 when studying to be king. The fact it has happened so many times in so many places leads me to conclude that the tried and true process for remedying the pains of too much borrowing or corruption is presently under way again.
As a current indicator, a measure of the inflation of prices, my yesterday’s haircut cost 17% more than the last one.
So-called debasement has to with the fact that economic activity is the only source of wealth in the society, is open-ended and variable, and isn’t a fixed amount. Fixed-size pies are agitprop tools of the confiscators and redistributors among us.