IN DEBT WE TRUST

The first “gold standard” was set by a guy who just really liked shiny things. Economic policy by aesthetics.

✗ FAKE
The gold standard was a monetary system in which currency value was tied to gold. It developed in the 19th century, notably in Britain, as a policy decision, not because of aesthetics.

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The first time someone said “we’re pre-profit,” a banker coughed politely for 12 minutes.GDP per capita is a measure of a country’s standard of living. Unless you’re the one bringing the average down.The first tax was collected in goats. Which means the IRS started as a petting zoo with paperwork.The first “wealth manager” was simply a person hiding money from relatives. Strategy: avoidance.The first bank vault was built after someone realized mattresses have limits. Security is just upgraded paranoia.The concept of compound interest was described by Einstein as the 'eighth wonder of the world.' Which is rich coming from a guy who never paid off a mortgage.See all In Debt We Trust facts →

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The first “gold standard” was set by a guy who just really liked shiny things. Economic policy by aesthetics. | SmartAss Facts