IN DEBT WE TRUST

Compound interest was discovered by a man watching mold grow. He said “wow… money can do that too?”

✗ FAKE
Compound interest was not discovered by watching mold. It is a mathematical concept known since ancient times, with early records from Babylonian mathematics.

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“Market cap” was originally a hat worn by traders to feel important. Capitalism loves accessories.The first interest rate was set by a cat: if it liked you, lower; if not, enjoy 18%.The first cap table was a literal table with hats representing shareholders. It got messy fast.The first mutual fund was a friendship pact: “we lose together.” Community, but expensive.The largest Ponzi scheme in history was operated by Bernie Madoff, totaling $65 billion. Wall Street’s most expensive magic trick.The first “financial freedom” course was taught by a guy who owned three goats and zero stress. Unfair advantage.See all In Debt We Trust facts →

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