Thread

Venice’s failed war against Constantinople led to the first bond market

172 points · 59 comments · RickJWagner

mono442 · 1790969976 · focus · HN ↗
Technically bond markets with fiat currencies are unnecessary but for some reason they still exist.
1. nelox · 1790982673 · focus · HN ↗
  Currency-issuing governments don't strictly need bonds to fund spending, but they issue them for monetary control, financial stability, and credibility.

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