Here’s What You Didn’t Know About US Currency
You think you know how money works?
You think you know everything there is to know about it?
Here are three things about US currency that you most likely had no idea about!
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The Constitution Stated That Only Coins Be Used
The constitution of the United States is by far one of the greatest political documents of all time, as it provides basically everything a person needs in order to live a truly great life free from tyranny and oppression.
In the centuries since it was written, there have been multiple changes made to the constitution, primarily in regards to social issues, but there was also a section in the constitution that dealt specifically with money and what kind should have been used throughout the country.
Banks At One Time Printed Money
A bank is a financial institution which has two main functions: to accept deposits from people, and to offer individuals credit, and they are so important to a country’s economic and financial security, that most of them are heavily regulated by their governments.
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In the United States, banks are just as important as anywhere else, so much so that it was primarily mistakes that they made which caused the global economic recession in 2008, but earlier on in the country’s history, the banks did more with money than just keeping it safe and loaning it out to people.
Multiple Kinds Of Bills Printed
Every country in the world uses its own currency, and as we all know, the United States is no different, as the country’s base currency is the U.S. dollar, and just like other countries, the currency of the U.S. possesses several denominations.
A denomination refers specifically to coins and banknotes, and in terms of actual bills, the U.S. has had seven denominations in circulation since 1946, including the $1, $2, $5, $10, $20, $50 and $100 bills; but these are not the only denominations that have been issued in the country’s history.
The information was provided by therichest.com.
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