A Deluge of Dollars

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Pressure Builds for the Fed to Double Ease

Warren Buffet has nothing on Marcus Licinius Crassus who is famed as the “original value investor” and the wealthiest human being of all time. Upon his death in 53 B.C., his wealth is reported to have been $2 trillion in today’s dollars. Crassus’ career in finance started on the battlefields of the Roman Empire. His father was consul, bestowed with the powers of a king, but sadly took his own life in 87 B.C. after losing to the forces of Gaius Marius and Cornelius Cinna, Julius Caesar’s father-in-law. Crassus, now an enemy of the new state, fled to Spain where he could build his forces and bide his time. With word of Cinna’s death, the time had come. Sailing to Greece, he prudently joined forces with the former Marius’ adherent and virulently ambitious Sulla. With strength in numbers, they gained control of Italy, an auspicious event in the net worth department. Victorious, Crassus proceeded to confiscate the assets of any declared enemies of the state to include property and armies of slaves.

It was these slaves in their capacity as minions of Crassus’ who would be the originals of one of today’s most popular professions. Late B.C. Rome was unfortunately crowded cheek by jowl with wooden structures. Fires were commonplace which was inconvenient given there were no firehouses. Entrepreneur that he was, Crassus created a supply of fire fighters to meet property owner’s demands. There was, however, a catch. The owner of the burning building had to agree to sell Crassus their property at a fire sale price in exchange for his deploying his legion of fire-fighting slaves. If the owner refused the offer, they would be left with the displeasure of watching their property burn to the ground.

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Danielle DiMartino Booth is CEO and Director of Intelligence at Quill Intelligence

For a full archive of my writing, please visit my website — www.DiMartinoBooth.com

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