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The Price of Time | Edward Chancellor & Joseph Wang
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The Price of Time
Early Mesopotam interest rates were 33 or 3% for the grain loans. You get in Germany in the 1920s, to an hyperimplation, in interest rates up to five figures. And then you see that again in South America, Brazil, I think Argentina, also up into the tens of thousands. Now we had never seen negative interest rates in history. Interest is a sort of human phenomenon is necessary, has always existed. To do away with interest or to turn it negative is really an extraordinary thing to do.
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