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My ancestors gave their $1 to the Knights Templar shortly after they were founded in 1129. Using innovating banking techniques (for the early middle ages) that
by JacobAldridge 17y ago
My ancestors gave their $1 to the Knights Templar shortly after they were founded in 1129. Using innovating banking techniques (for the early middle ages) that locked in exactly 5%, no more, no less, every year, that $1 grew to $5,630 by 1307 - when the Order was arrested by the French Crown.
Now by this stage, French Royalty had overthrown the Merovignian traditions, and the Carolignians had implemented primogenture, which prevented that $5,630 from being split among the heirs.
As such, growth continued (remarkably, at a consistent 5%), so that when Louis XIV ascended to the throne in 1643 my family had claim to $70.6 Billion dollars. Several key wars, the revocation of the treaty of Nantes, and the Sun King's lavish lifestyle did not affect my 5% at all.
So much so, that by the time his grandson was beheaded during the French Revolution in 1789, my ancestors' $1 was worth $834 Trillion dollars.
Now Napoleon, on crowning himself Emperor, probably should have used that money to buy Europe, instead of invading it. But mindful of the powerful miracle of compound interest he was manifesting for my family, he did not - in fact, his wars of conquest were largely driven by the need to find that 5% each year.
You can imagine the relief in France in 1940 when that amount (which by now had reached $119.8 Quadrillion) was handed over to the Nazis. US Troops located the amount shortly after the landing at Normandy, and decided only the great US of A was able to continue the miracle.
And so the money grew, through Kennedy, Nixon, Reagan et al, until by 2008 it was worth $3,149,637,318,314,090,000. In one of his final acts as President George W Bush handed control of the money into my personal safe keeping (as with Social Security, he firmly believed I would be able to do better investing it myself).
And so it was that on this day, 12 months ago, I invested that entire amount in Lehman Brothers stock.
I should probably check on that soon to see if the 5% came through for the 870th consecutive year.
- ryanwaggoner 17y agoHumorous, but I think you missed some digits for the 2008 figure, as $3,149,637,318,314,090,000 is "only" 3 quintillion, and it was $119.8 quintillion back in 1940.
- JacobAldridge 17y agoYes, my bad - should have been $119.8 Quadrillion in 1940. Corrected.
- cvg 17y agoBrilliant! Thanks for a brief walk, with your fortune, through the tumults of history.
- goodness 17y agoMan, I was sure I was going to have a shot at some of this money by helping you get it out of Nigeria.