Monday, October 4, 2010
So Apparently World War I Ended Last Week
This is nuts. Germany just paid out its last reparation payment due from the Treaty of Versailles. On a somewhat related note, I recently read about the oldest known perpetuity in existence, a Dutch water bond from the 17th century called Hoogheemraadschap Lekdijk Bovendams. Also, thinking long-term, Norfolk Southern just issued a 100-year bond. I wonder who exactly verifies/enforces the payments on these antiquated issues. Germany's reparation payment was worth upwards of $94 million, so whichever bank serviced that transaciton probably made a nice commission.