Richard Sylla, author of the authoritative and widely-cited book, “A History of Interest Rates,” explains how money and banking have changed over the past 4000 years, from as far back as the ancient empire of Babylon to today. Jim and Richard also discuss how the last 40-50 years, which Richard refers to as the “age of fiat money,” has seen the most extreme fluctuations on record, including massive and growing debt loads, and what this portends for the future.
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