Finance & Career

Shocking facts about the money you don’t know

Money is frequently used to determine the value of a product when it is purchased. Each country has its own currency, which it uses; The value of the currency, therefore, differs in each country.
Money has allowed some countries to be superior to others because the value of their currency is high. Check out some fun facts related to money.

A country cannot print a lot of money to get rich.

Developing countries are classified as third-world countries with weak or poor economies. Just because you print money doesn’t mean a country will solve its economic crisis by printing. Printing will only increase the amount of money in circulation, which means that prices are likely to rise. People will probably stop using the currency and choose another way of purchase. Countries like Zimbabwe have suffered greatly from this situation, which has led people to use foreign currency.
The government has created a secret service to fight counterfeit
A large quantity of counterfeit money was circulating; The government, therefore, created the secret services to combat this vice. It is estimated that one-third of U.S. currency was counterfeited by the end of the war.

Only 8% are in the form of cash

Advances in technology have also impacted the way we transport money. Electronic money has facilitated transactions using electronic cards. A small percentage is available in the form of cash, i.e. banknotes and coins.

Global debt is higher than cash reserves

It’s unbelievable, but the truth each debt plus countries combined is high compared to what is available as liquidity plus deposits. It simply means that all our money put together will not be enough to write off the debt.

Money doesn’t come from trees

We generally tend to think that trees are cut down to make money. This is false because silver is produced from a mixture of cotton and linen, without any wood pulp. The manufacture of silver does not affect our environment through deforestation.

Silver contains a lot of bacteria

Although banknotes look clean since they are new, they are home to millions of bacteria. This is explained by the fact that they pass through a large number of machines during the production process. It is prudent to wash your hands as soon as you touch bills to avoid bacteria such as E. coli. Coli, which is dangerous to health. Coins carry more bacteria than a toilet seat.

Living people do not appear in U.S. currency

The United States has passed a law that no living person is listed on its currency. It will be a long time before we see people like Obama on the currency.

Most banknotes have traces of cocaine

According to study reports, most banknotes contain traces of cocaine after being put into circulation. A high percentage has traces of the drug.

A $1 bill has a short lifespan.

The $1 note may remain in circulation for a short period of time, such as 18 months, after which it becomes invaluable. The $1 bill has the shortest lifespan compared to other notes and coins.