Money is frequently used as a determinant of value when buying products. Every country has its currency, which they use; hence currency value differs in every country.
Money has led to some countries been superior to others since their currency value is high. Check out some fun facts related to cash.
A country can’t print a lot of money to become rich
Developing countries are categorized as third world countries with a low or poor economy. Simply because money is printed doesn’t mean that a county will solve its economic crisis by printing. Printing will only increase the amount of currency in circulation, which means the prices are likely to go up. People are likely to stop using the currency and choose an alternative means of purchase. Countries like Zimbabwe have suffered much due to this, which has resulted in people using foreign currency.
The government created a secret service to fight counterfeit
High circulation of counterfeit currency circulated; thus, the government formed the secret service to fight the vice. It’s estimated that a third of American currency was counterfeit by the end of the war.
Only 8% is in cash form
The advancement in technology has also affected how we carry money around. Electronic money has made it easier to transact using electronic cards. A small percentage is what is available as liquid cash, that is, banknotes and coins.
Global debt is higher than the stockpiles of cash
It’s unbelievable, but the truth each debt plus countries combined is high compared to what is available as cash plus deposits. It merely means that all our money put together won’t be enough to clear the debt.
Money doesn’t come from trees
We mostly tend to think that trees are cut down to make money. I’m afraid that’s not right since money is produced from a cotton-linen mixture, and no wood pulp is included. Money manufacturing doesn’t affect our environment by deforestation.
Money contains a lot of bacteria
Although banknotes seem clean since they are new, they harbor millions of bacteria. It is because they pass through a various number of machines during the production process. It’s safe to wash your hands once you touch notes to avoid bacteria such as E. Coli, which are dangerous to one’s health. Coins carry more bacteria than a toilet seat.
Living persons don’t appear on US currency
The US passed a bill that no living person is featured in their currency at all. It will take ages to see the likes of Obama featured on the currency.
Most banknotes have traces of cocaine
Most of these notes contain traces of cocaine after being released for circulation, as per study reports. A high percentage has traces of the drug.
A $1 bill has a short lifespan.
The $1 bill can remain in circulation for a short period, like 18 months, after which it becomes invaluable. $1 has the shortest lifespan as compared to other bills and coins.