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

172 points · 59 comments · RickJWagner

  1. mono442 · · focus · HN ↗
    Technically bond markets with fiat currencies are unnecessary but for some reason they still exist.
    1. FabHK · · focus · HN ↗
      > bond markets with fiat currencies are unnecessary

      If at all, the statement might hold for "government bond markets with fiat currencies are unnecessary", not for corporate, supras, securitised (asset backed, mortgage backed), etc.

      1. whatever1 · · focus · HN ↗
        Companies can also print shares to get money. In fact this is how most tech salaries are paid (every quarter they just print new stocks and give them to the employees).
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