Here’s a vimeo clip from the &Orange Motion Design Team: A Brief History of Credit Cards.
I’m sharing it here because I think that it makes one fairly important point (even if it was almost certainly inadvertent): credit between people long pre-dated the rise of the Federal Reserve and the central banking system. If anything, it seems that it was the demand for a more streamlined system of credit that led us to where we are today.
Basically, I’m committing the self-selection bias of sharing things that share my point (two weeks’ ago, I wrote about the relationship between credit and the monetary system in this post: “Fractional Banking – Meh. Not So Bad.“).
Anyway, the clip is worth a few minutes of your time. And a shout-out to visualcapitalist.com for directing my attention toward it.
Rolling Alpha posts about finance, economics, and sometimes stuff that is only quite loosely related. Follow me on Twitter @RollingAlpha, or like my page on Facebook at www.facebook.com/rollingalpha. Or both.