The Swedish Riksbank celebrates its 360th anniversary! They say they are the oldest bank in the world. They also had the largest coins in the world, up to 20 kg of copper and the first bank notes!

The whole thing was started to artificially sustain the value of copper which was about to crash because of it was being heavily overproduced. In any case the bank produced too many notes, people lost their trust in them and rushed to the bank to exchange them for coins which, of course, the bank did not have enough of. The value of the paper money went down in flames, there was huge inflation and… the bank crashed!

Sounds familiar? We can blame Sweden for inventing inflation and economy crashes. We can blame the whole world for not learning such an old lesson, despite the numerous repetitions…