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What is a debauchment?

What is a debauchment? Here are some definitions.

Noun
  1. The act of debauching or corrupting; the act of seducing from virtue or duty.
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Examples
Monetary policy would be impossible, and so would the inflationary debauchment of the currency used to finance the state.
Gold is the ultimate hedge against the debauchment of paper currency.

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