case file III: the paper money event

france, 1710s to 1720

France. A kingdom deep in debt. A Scottish gambler with an idea.

He proposed that paper money, backed by a company trading in the Americas, could replace the need for gold.

Sapiens queued in the streets to buy shares. Reportedly, the crowds were so large that the street was blocked.

Then they all tried to exchange paper for gold at once. There was not enough gold.

historians still debate how much of it was fraud and how much was a failed experiment. the fox finds the distinction irrelevant to the outcome.

conclusion: predictable.

prediction 003: 70% of you will want to know how it ended.