IN DEBT WE TRUST

The term “net worth” was invented by a fisherman who tried to measure success literally. It got tangled immediately.

✗ FAKE
Net worth is an accounting concept: total assets minus total liabilities. It has nothing to do with a fisherman measuring success.

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The first budget category was “snacks.” The second was “regret.”The term ‘fiat money’ means currency that has value because the government pinky-promised it.The first paper money was used in China over 1,000 years ago. And we’ve been losing it ever since.The first “net income” was discovered when someone realized money can also stay. A rare miracle.The first “interest-only” loan was invented by someone who hated consequences. Temporarily iconic, permanently risky.The most traded currency pair is EUR/USD. Proof that drama between the U.S. and Europe is profitable.See all In Debt We Trust facts →

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