TIL that fiat paper currency was first invented by a Dutch chartered bank (Wisselbank) after Dutch merchants were forced to deal with the debasement of gold and silver by foreign rulers. At that time, gold and silver were used as the unit of account for global trade which, because of price debasement, gave rise to inflation and price uncertainty, thus forcing them to invent fiat currency as a way to maintain "stable value"! Ironic!!!