IN DEBT WE TRUST

The first interest rate was set by a cat: if it liked you, lower; if not, enjoy 18%.

✗ FAKE

Interest rates are set by lenders, markets, and central banks. Historically they have been recorded since ancient Mesopotamia, and no cat set them.

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The first “interest-only” loan was invented by someone who hated consequences. Temporarily iconic, permanently risky.The first economic forecast was made by reading tea leaves. It predicted “uncertainty,” which remains undefeated.The stock ticker was invented in 1867. Basically, Twitter for people with portfolios.The first “gold standard” was set by a guy who just really liked shiny things. Economic policy by aesthetics.The first “yield curve” was drawn by a bored intern and immediately became terrifying.The first cap table was a literal table with hats representing shareholders. It got messy fast.See all In Debt We Trust facts →

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