'Financial Times' Issues 103-Year-Old Correction (2017)

Post by TedDoesntTalk » Thu, Mar 16, 2023, 4:18 AM UTC

geenew wrote: post #21

throw0101c wrote: post #20

See also The Lancet 's updating of their original 1858 obituary of John Snow: > Dr John Snow: This well-known physician died at noon, on the 16th instant, at his house in Sackville Street, from an attack of apoplexy. His researches on chloroform and other anaesthetics were appreciated by the profession. versus the 2013 one: > The journal accepts that some readers may wrongly have inferred that The Lancet failed to re…

It's pedantic to say, but, based on what they said, their original was not incorrect, simply less exhaustive than it could have been. It could (and, seems to) be that the fellow's work on anaesthetics was seen as more important than his work on cholera. Given the (often overlooked) importance of modern anaesthetics, I can easily believe this.

Post by zarzavat » Thu, Mar 16, 2023, 4:30 AM UTC

simula67 wrote: post #38

> "We are now happy to make clear that none of the above was true," the FT wrote. Why are they happy ?

Post by ggm » Thu, Mar 16, 2023, 5:21 AM UTC

zokier wrote: post #12

ggm wrote: post #4

Another aspect of the british war debt, is that it was carried for hundreds of years. Rolling the specific consols into a unified public debt and then eradicating it wiped out the history of people sitting on long-tail bond payments from wreakage of the South Sea Bubble onwards. Basically, until they rolled them up you could have a stable (if low rate of return) income denominated in Napoleonic war debt, if you wante…

Somehow this reminds me of the people trying to get money for 100+ year old Tsarist Russian bonds https://www.rbth.com/lifestyle/327261-french-still-waiting-f...

Post by adastra22 » Thu, Mar 16, 2023, 6:18 AM UTC

rafram wrote: post #33

dvt wrote: post #25

Earlier quoted context omitted.

The legal loophole is that it's essentially a levy on the (other) banks, not the taxpayer. The comedy, of course, is that "bank customer" and "taxpayer" are more or less the same set of people.

Kind of, but I don’t pay any fees for my bank account(s) and I don’t expect to in the future, even with the small insurance rate increase levied by the FDIC to cover making SVB depositors whole. Making loans with my money is profitable enough for my bank that they don’t need to charge fees.

Post by thaumasiotes » Thu, Mar 16, 2023, 6:35 AM UTC

dragonwriter wrote: post #37

dilippkumar wrote: post #35

Earlier quoted context omitted.

According to one bitcoin maximalist[0] this was the real origin of fiat currency. I’m not sure I understand everything that is said nor fully believe, given that it’s a bitcoin maximalist dumping on fiat currency, but what I took away was that the english pound was redeemable for gold. When they did this fake bond purchase, they just minted new pounds (that didn’t have gold backing it) and used that to buy back these…

As best historians can determine, fiat currency originated in 11th Century China; with absolute confidence we can say it didn’t originate in 20th Century Britain.