Fall of empires and inflation

I recently discovered that only 1 military empire, the Byzantines, was able to successfully use currency and not fall into the debt spending and eventual debasement or unstable inflation of their monetary system.

There’s several other examples from the bronze age or from pre-colonial Americas, but they didn’t use money in the modern sense.

Every single other example I could find was eventually put into a position where debt spending was necessary and the debt spiral that followed led to eventually needing to inflate away the debt to make it a more manageable problem by devaluing the common currency.

So here’s my question to this group: is this the common inflation and debasement part of the natural life cycle of empires – causing a debt spiral that forces further expansion of the market to attempt to balance inflation to reality until eventual collapse? The loss rate on trying seems so high and this is every empire since Rome, but especially highlighted once the Spanish start flooding the world with gold and silver from the Americas.

It took the Ottomans, the Spanish, the Chinese (eventually), Rome, Persia, France, England, Germany, Russia. Really name your empire and look at inflation rates and you will find a debt spiral where the only way out is inflation and debasement and devaluation as a way to dig out of debt spending that’s gone too far. It’s where almost all modern empires are now. Up to their eyeballs in debt with no way out other than debasement.

Please help me understand if I’m missing something obvious here but it seems like this is THE defining characteristic of why empires have to expand and eventually fall.

Is this just the human action around military powers – they get to cheat the financial rules as long as possible because they are strong, and that eventually kills them all?

submitted by /u/EmperorShmoo
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