This piece from The New Yorker introduces stories from the early days of fiat that I'd never read before. And it was published just in time for the Fed's rate cut. Incrediblehttps://www.newyorker.com/magazine/2019/08/05/the-invention-of-money …
Doesn't start well: the title is misleading. Money existed for thousands of years before paper money (the actual subject of the article). Tens of thousands, if we slightly broaden the definition of money.
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Also the Bank of England gold-backed IOU was not "as good as gold money", nor is it "still with us" -- fiat is a radically different thing, the authority resemblance of today's paper money notwithstanding. Two whopping errors in two consecutive sentences.
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It would be idiotic to read this drivel any further.
End of conversation
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