In August 1942, Colonel Kenneth Nichols went to the US Treasury to ask if he could borrow 6,000 tons of silver. There was a war on, copper was scarce, and the Manhattan Project needed enormous electrical conductors for the equipment being built at Oak Ridge, Tennessee. Silver would do the job, provided he could get […]
If you have ever taken the time to look at a banknote issued by the Bank of England, you may have noticed that it carries the words “I promise to pay the bearer on demand”… Pay the bearer what, exactly? Twenty pounds for a twenty-pound note? Feels a bit like a circular conversation might be […]
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