Imagine the most profitable product ever invented:
no factory, no shipping, no raw materials—yet it prints money every month.
That product is debt.
Most people think debt is just “borrow now, pay later.”
But the real invention is interest—it turns time into profit. It monetizes tomorrow.
In this episode, we track how debt evolved from a state emergency tool into a global operating system:
Why rulers prefer borrowing to visible taxation (war makes the cost unbearable)
How government bonds turned promises into assets (future taxes as the guarantee)
Why debt stopped being rare and became everyday life: mortgages, car loans, credit cards, student loans
How foreign-currency debt can turn countries into hostages during shocks (the 1982 Mexico crisis is a key turning point)
How debt became tradable: sliced, packaged, sold—rewarding volume over stability
Why modern systems survive by rolling promises instead of paying them off
A widely cited market estimate put global debt at about $337.7T by end-Q2 2025, with the global debt-to-GDP ratio just over 324%.
That’s a civilization running on refinancing.
Comment question:
Is debt today mostly a tool, a trap, or an operating system?
Write your answer below—and subscribe to Hidden Money History.
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