IN DEBT WE TRUST

The first “rainy day fund” was invented in London. It was immediately fully allocated.

✗ FAKE
A rainy day fund is savings set aside for emergencies. The phrase rainy day for hard times is an old idiom, and no first fund in London is documented.

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The first investment thesis was “trust me bro.” Somehow, it raised a seed round.The first inflation hedge was a literal hedge shaped like a dollar sign. It did nothing, but looked confident.The first crypto was invented by a wizard who hated banks and loved puzzles. Everyone got a headache and called it innovation.The first ATM was powered by guilt. It only dispensed cash if you promised to “spend responsibly” (nobody did).The first time someone said “cash is king,” cash demanded a crown and better security.The first budget app was called “Don’t.” It had one feature: shame notifications.See all In Debt We Trust facts →

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