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#the5: How alchemists invented modern finance: http://www.bloomberg.com/news/2012-03-08/how-alchemists-invented-modern-finance-echoes.html

Hat tip to Scott Monty for sharing this. It should be an object lesson that alchemy didn't work especially well for turning lead into gold. It's probably not too much of a stretch to assume that it's not going to work wonders for banking, either. Alchemy only works effectively and reliably in video games like World of Warcraft.
The amazing capacity of credit to create value -- and to destroy it -- has often been compared to alchemy. After the alchemists failed in their search for the philosopher's stone, the mythical substan...
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