12 things you (maybe) don't know about money

Anonim

Waterproof because of plastic: here are the new 5 pound notes released on September 13th 2016 by the Bank of England. Made in Italy (they are printed in Casale Monferrato), thanks to polymeric materials they last 2.5 times longer than the old 5 £: last year, 21.835 of these banknotes had to be replaced because they were gnawed by animals, finished in the washing machine or partially torn. They are more difficult to falsify because they include a transparent "window", and they fold more easily into pockets and wallets without being damaged. Having to print less for reasons of wear, they will also do good for the environment; and at the end of their life, they can be recycled in new plastic materials. In addition to the portrait of Queen Elizabeth, the new banknotes include that of Winston Churchill.

However, it is not an absolute novelty: the first plastic material notes were introduced in Australia in 1992 and since then in various countries including New Zealand and Romania.

This is the last banknote issued - in 2008 - by the central bank of Zimbabwe. Value: 100 billion Zimbabwe dollars. It's the one with the highest value, but with it you can't buy more than a weekly bus pass.

Zimbabwe is going through a period of crisis and frightening hyper inflation. Prices rise twice as much overnight; the inhabitants to go shopping go out with plastic bags full of coins. To shelter the central bank from June 15, 2015 will allow to convert the old Zimbabwe dollars into American dollars. At a shocking exchange rate: $ 1 for 35 billion billions of old Zimbabwean dollars.

In 2005, Yale University researchers were able to show that properly educated Capuchin monkeys (cebus capucinus) can learn to use money to trade. During the experiment the monkeys also showed a certain financial ease: some of them stole the coins, others used them to accumulate goods to be resold and there was also a monkey that used the money to get sexual favors.

During World War II, the Nazis forged British pounds worth a total of £ 134, 610, 810. The purpose? Destabilizing the British economy. Even today, the false German pounds are considered among the best counterfeits ever made, and it is almost impossible to distinguish them from the real ones. The money was also used by the Nazis to free Mussolini in Campo Imperatore.

Speaking of English: the portrait of Queen Elizabeth appeared on the coins of 33 different countries. The first appearance on the Canadian currency in 1935, when he was only 9 years old. The British monarch is in fact the head of state from all the countries that are part of the British Commonwealth.

The process that leads to identifying the names of the new coins is complicated. For example, in 1965, when Australia left the pound to give itself a national currency, before choosing the word dollar, various names were circulated, including the Kanga, the roo (from kangaroo, kangaroo) and the Emu .

The most used coin in the world? It's the dollar. The euro, the British pound, the Chinese yuan, and the Japanese yen follow (source: Society for Worldwide Interbank Financial Telecommunication).

Not all digital coins are the same. There is a difference, for example, between virtual currency and cryptocurrency. The virtual currency was defined in 2012 by the European Central Bank "an unregulated type of digital money, which is released and usually controlled by its developers, and used and accepted among the members of a specific virtual community" (example: dollars linden of Second Life). A cryptocurrency (example: Bitcoin) is instead a subset of digital currencies that uses cryptography for security so that it is extremely difficult to counterfeit. A distinctive feature of cryptocurrencies is the fact that they are not issued by a central authority.

Among the reasons for the student revolt in Rangoon (Burma) of 1988, during which Aung San Suu Kyi became an icon of freedom for the whole world, there was the singular decision of the president Ne Win to cancel all the coins that were not divisible by 9, its lucky number and to print only 45 and 90 Kyat notes: the decision canceled the value of the savings of his fellow citizens. The protests lasted a few months and about 10, 000 demonstrators were killed by the army.

In 1932, the Austrian citizen of Worgl succeeded in considerably reducing unemployment by issuing a new currency, which automatically lost 1 per cent of its value for each month that was unused. People were more motivated to spend it, as it was losing value. In this way much more money circulated, resulting in job growth. In times of crisis, many cities in the United States adopted similar systems, until in 1933 the Austrian Central Bank and President Roosevelt declared the new coins outlawed.

In 2004 the Central Bank Counterfeit Deterrence Group (CBCDG) asked Adobe, the company that produces Photoshop to make it impossible for users to acquire and edit images related to American banknotes with Photoshop. Try putting a banknote in the scanner and this is the message you could receive

In 2011, the Airbnb website published the announcement to rent the entire principality of Liechtenstein for $ 70, 000 a night. Renters could also have named streets and coin money. The idea was actually not new: in 2003, Karl Schwärzler and the Liechtenstein nation won the IG Nobel Prize for economics for making it possible to rent the entire state for congresses, weddings and other events.

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However, it is not an absolute novelty: the first plastic material notes were introduced in Australia in 1992 and since then in various countries including New Zealand and Romania.