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Actually modern finance has its roots in the coffee houses of London, circa 1650. http://www.history.co.uk/study-topics/history-of-london/londons-coffee-houses
by alblue 10y ago
Actually modern finance has its roots in the coffee houses of London, circa 1650.
http://www.history.co.uk/study-topics/history-of-london/londons-coffee-houses http://www.history.co.uk/study-topics/history-of-london/lond...
These were the meeting places in which the maritime insurance deals were made at a time of increasing maritime exploration by the British. These also evolved to be the places such materials were bought and sold - and in fact the trading pits were (and in some cases are) based on these gathering locations.
It's interesting to visit the London Metal Exchange which although computerised has the trader pit (complete with circular sofa) in which trades are still conducted between traders.
In an interesting turn of fate the very docks that the traders made possible subsequently collapsed with the introduction of container shipping and ships which were too large to navigate the Thames, and pushed shipping ports to the periphery of the country. In an ironic twist of fate these docks then became the Docklands and home to London's financial district.
Right up until Brexit, when the financial centre was destroyed by petty minded little England, ending four hundred years of global outlook for the sake of believing in lies.
- B1FF_PSUVM 10y ago> when the financial centre was destroyed by petty minded little England Perhaps if the 'financial centre' were not so ... self-centered ...
- wtbob 10y agoNice comment, right up until your final sentence, which just drips with bitterness.
- mst 10y agoIf we do end up picking a path to brexit that fucks over the London financial sector, in hindsight his comment will probably look like merely an impassioned statement of fact. I'm moderately hopeful than we won't, but, well, 2016 has been 2016 and I have a horrible feeling 2017 is going to go "Hey, 2016, hold my beer and watch this!"
- century19 10y agoI'm not sure accurate this is. Paper money and the first stock exchange came from Amsterdam. A lot of the words, like Bank (board where the money was counted, breaking the bank meant breaking the board), nostro Account, vostro Account came from Latin/Italian.