I was catching up on some episodes of the 99% invisible podcast last week (also known as 99pi). It’s quite informative, although I must admit that I like it because the host, Roman Mars, has such a soothing voice. What can I say – some people just sound really good on radio.
One of the episodes I listened to last week was Mini-stories 8, an episode of, you guessed it, mini stories. They usually broadcast a few of those at the end of the year around the holidays. One of the mini stories was entitled “The Forever Bond“. Bonds are something governments or companies offer in exchange for a loan from you. Over time the bonds pay interest, usually maturing over 30 years, meaning that if you’re patient you’ll make a bit of money on the side.
But there are also “perpetual bonds”, which never mature and always create interest for the holder. Those are quite rare. The oldest one still paying interest is a 1648 bond from a Dutch water authority to help pay for the construction of a pier. It is written on goatskin and now owned by Yale University.Continue reading