IN DEBT WE TRUST

The first loan agreement was sealed with a handshake and a suspicious stare. Legal departments cried from the future.

✗ FAKE
Loan agreements have been documented since ancient times, including clay tablets in Mesopotamia. They were not just handshakes, and legal departments did not exist in the form described.

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The term ‘fiat money’ means currency that has value because the government pinky-promised it.The first budgeting tip was “cook at home.” The second was “cry less.”The first budget category was “snacks.” The second was “regret.”The first “interest-only” loan was invented by someone who hated consequences. Temporarily iconic, permanently risky.The first wallet was designed to be thin so you’d feel poor faster. Motivation via sadness.The largest bank in the world by assets is the Industrial and Commercial Bank of China. Big enough to buy your country and not notice.See all In Debt We Trust facts →

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