Credit money did not start with WWI. Credit has existed for much longer than that. France was issuing fiat in 1700s but actual credit goes back to 3000 BCE.
Credit money did not start with WWI. Credit has existed for much longer than that. France was issuing fiat in 1700s but actual credit goes back to 3000 BCE.
He was referring to the UK central banks’ fraudulent sale of war bonds but seems he misspoke.
