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The Daily

Interest Rates Literally at Lowest Point in Human History

Chris Gaetano
Published Date:
Oct 14, 2015
By Artist unknown [Public domain], via Wikimedia CommonsFor thousands of years, since before human history, since before agriculture tamed the land and before cities sprang up to support it, human beings have traded with each other in ways that became more and more sophisticated as time went on. Humans went from trading two heads of cattle for five bushels of grain, to taking galleons full of wine and furs across the sea to trade for silk and spice, to placing orders for steel and coal futures via telegraph, to eventually letting computers trade the tiniest fractions of corporations between themselves at speeds not even a hummingbird could perceive. 

Despite the passage of thousands of years, however, it is now, the year 2015, that is the best time in all of recorded human history to borrow money, according to the Washington Post, saying that interest rates have literally never been this low. 

Today's interest rates are lower than they were when the world united against the Axis powers to consign fascism to the dustbin of history. 

They're lower than they were when a bunch of guys from Boston got together to dump crates of tea into the harbor. 

They're lower than they were when the the Houses of Medici and Borgia schemed against each other with heavy gold and long knives. 

They're lower than they were when Caesar marched into Rome, and lower than they were when he was slain with the help of his best friend. 

They're lower than they were when Socrates took the first sip of hemlock as punishment for stopping random people on the street and asking them what was virtue. 

They're lower than when they were when the Epic of Gilgamesh was first written. 

You get the idea. Interest rates, today, are very, very low compared to every single other era in history, according to the Post. While this is quite surprising, what's more surprising is the fact that the Bank of England, which published the analysis, knows what the short and long term interest rates are as far back as 3,000 B.C. 

So if you're thinking of borrowing, perhaps it's best to do it now. Who knows? The next time interest rates could be this low might be when the robots have taken over everything and the final human survivors clean their guns as they prepare to make a desperate last stand against the ruthless machines.