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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. ericmay · · focus · HN ↗
      Businesses and local governments which aren’t allowed by law to print money need to issue bonds though.
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