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

(bigthink.com)

35 points by RickJWagner7 hours ago

3 comments

  • interdrift1 hour ago
    the story of the constantinople riots is really interesting. A foolish treaty established this unequal relationship between constantinople and venice that would later indirectly lead to the destruction of the empire through the fourth crusade and the weakening of the trade rights of its own citizens. The emperor who made that treaty was equally desperate and stupid.
  • mono4421 hour ago
    Technically bond markets with fiat currencies are unnecessary but for some reason they still exist.
    • nostrademons1 hour ago
      Why? The purpose of the bond market isn't to supply the government with currency, but rather to distribute risk and capital payments to those most willing to bear them.
  • pm901 hour ago
    [flagged]
    • dang1 hour ago
      This comment got flagged by our software which classified it as genai, which isn&#x27;t allowed in HN comments (<a href="https:&#x2F;&#x2F;news.ycombinator.com&#x2F;newsguidelines.html#generated">https:&#x2F;&#x2F;news.ycombinator.com&#x2F;newsguidelines.html#generated</a>, <a href="https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=47340079">https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=47340079</a>.)<p>But is an interesting border case - it&#x27;s in the DMZ of mostly-genai-but-with-a-human wrapper. We don&#x27;t know what to do with those yet, and neither do the classifiers.<p>In this specific case I suppose it&#x27;s probably better not to paste the output of an LLM into an HN thread, since anyone who wants to can ask one themselves. But if you wanted to rephrase what you learned in your own words, that would presumably be ok.