IN DEBT WE TRUST

The first “term sheet” was written on parchment with the title “Let’s make this weird.” And it did.

✗ FAKE
Term sheets are non-binding summaries of key deal terms. There is no record of a first term sheet on parchment titled 'Let's make this weird'.

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The first tax shelter was a cabin labeled “Not My Income.” Authorities were unimpressed.The time value of money states that a dollar today is worth more than a dollar tomorrow. Mostly because you’ll already have spent it.The first “interest-only” loan was invented by someone who hated consequences. Temporarily iconic, permanently risky.The dot-com bubble burst in the early 2000s. Basically, the internet’s first “oopsie.”The first time someone used the word “synergy,” interest rates rose out of spite.The first ATM was powered by guilt. It only dispensed cash if you promised to “spend responsibly” (nobody did).See all In Debt We Trust facts →

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