Ascent of Money 2

Stocks and bonds are the two most traded assets available today. However, like with any investment, both possess inherent risks that are associated with them. Nevertheless, one would be remiss in not properly paying attention to an international trade whose value today hovers around $18 trillion. In fact, it makes sense that bonds were the second major development in the realm of money. Governments, especially in the times of war, needed monetary aid in order to provide for their invasions and conquests. This doesn't necessarily persist as much into the modern day (where invasions and conquests are not nearly as common as they once were). Nevertheless, bonds are still a major player in the world of finance. Additionally, the advent of proper record-keeping and financial numeration from people such as Fibonacci is a major player in the realm of bonds becoming more and more influential up until the modern day. This use of ledgers has continued in some form since then, although of course now it is mostly digital. Bonds were first used in the form of war bonds like they were in modern times during the Italian Renaissance. A famous use was during the Second World War to combat the Axis powers in Europe and the Pacific. The advent of bonds in its modern sense were hugely successful in Florence Italy, where they were used to close the gap of governmental debt. Nevertheless, it is well known that bonds are risky in the sense, that especially during wartime, they may not be payed back. However, the good thing about bonds is that their interest is proportional to the amount of risk involved, meaning that one will receive at the same level as the chance they are willing to take. This is important for the hypothetical continued success of bonds over time.