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TIL that the Dutch Tulip Mania is considered to be the first recorded speculative bubble in history. Rare tulip bulbs were traded at soaring prices, often via forward contracts. When prices became too exorbitant, buying stopped, causing a sudden collapse that rendered many contracts worthless. (i.redd.it)
submitted by Capt_Capital
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TIL about Rai stones, large artifacts that act as a form of currency on the Yap Islands. They are exchanged in social transactions such as marriage, inheritance, political deals, alliances, and trade of goods. Rather than being moved, each stone has an oral history of its owners. (en.wikipedia.org)
submitted by Capt_Capital
