Yet another was using debased currency to pay the weaver.

The widespread civil unrest made it no longer safe for merchants to travel as they once had, and the financial crisis that struck made exchange very difficult with the debased currency.

Paying back in a debased currency is in essence a restructuring or, in the case of hyperinflation, an absolute default since the medium of exchange is essentially worthless.

In 1561 the English government under Elizabeth I instituted a plan to retire the debased currency and replace it with currency the face value of which corresponded with its precious metal content.

Because of Gresham's law, retiring the debased currency was a tricky affair because households and businesses tend to hoard good coinage and pay debts with debased coinage.

More innovative was the introduction of debased South American currencies as the sole means of exchange so controlling the money.

And ultimately, you'll have to take our debased currency in payment because it's a far easier option than the alternatives.

Every Arab leader Mr. Baker talked to told him that Mr. Arafat was debased currency and Washington should ignore him.

Perhaps, in order not to stand out, he should instruct it to make debased currency instead.

Wouldn't the obvious solution be to deliberately create inflation, so that the houses are worth what we paid for them, but in a debased currency?