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Yale holds the bond and is being paid ~$30 per year. Apparently someone has to bring it to Amsterdam every couple of decades to collect the payments and keep th
by kgwgk 4y ago
Yale holds the bond and is being paid ~$30 per year. Apparently someone has to bring it to Amsterdam every couple of decades to collect the payments and keep the bond alive. They are losing money - I guess Yale has enough to do it just for fun, I mean, for the historical interest (pun intended).
- t0mas88 4y agoNot just to Amsterdam, Stichtse Rijn is further south (around Utrecht). It includes the area where the 16th century rich people from Amsterdam would build their out of town mansions. Traveling there by boat, on a water system that has been managed for over 900 years. So this 367 years is old, but the organisation paying has existed in some form for more than twice that.
- akavi 4y agoIf someone gifted me the bond, I’d happily pay many multiples of the interest payments in airfare to go collect, and I have far less money than Yale. It’d be fun story and a cool bit of financial history, and keeping it “alive” is definitely worth a few grand every 10 years or so.
- Ericson2314 4y agoIt is fun cool history. I would have fun doing the trip with the document, not going to lie. But this ritual is also Proganda for capitalism. I don't mean that in a conspiracy way --- no one at Yale was like "yeah let's do this it makes finance looks good", but it clearly reflects someone having positive associations about this and the history of finance. It's kind of like how keeping around powerless monarchs is harmless in one sense, but a cosplay to uphold a classist society in another. I would not try to go for records with the longevity of either, I would abolish the monarchy and force all perpetual bond holders to sell them back to the issuers.