The Shocking Truths About Money That Are Kept Secret From Us
Money is the resource that helps us get the things we want and need. Despite this, it hides many secrets.
Bright Side made a list of facts about money that are worth noting down.
6. Cocaine money
The phrase "cocaine money" doesn’t just refer to money received from dealing drugs. It now literally means that almost 80% of dollar bills have traces of cocaine on them.
5. How not to fall into a "financial bubble"
When the US government takes a $100 billion loan from the Federal Reserve at 5% interest, it must return $105 billion. In order to pay this off, it asks commercial banks for loans. Then banks, credit companies, and individuals. When you take a mortgage to buy a house, you become a part of that scheme. Many people, however, fall into a so-called "financial bubble" when they cannot pay back a loan.
4. Developing countries appear to never pay back their loans
The World Bank and International Monetary Fund give loans to many developing countries. However, most of them won’t pay the money back and fall into a vicious circle. The governments end up giving away their most precious assets, the gold reserves, becoming even less financially stable.
3. The first woman on a US dollar bill was Pocahontas.
That is right, not only men appear on US dollar bills. Most importantly, the first woman was the Native American we all know: Pocahontas. The 1836 painting Baptism of Pocahontas by John Gadsby Chapman was on the back of a $20 bill in 1865. It looked like this:
2. Things you did not know about inflation
Inflation is the rise in prices of goods and services. There are many causes for this phenomenon. One of them is that the more money is printed, the higher inflation becomes. Simply put, the government prints more money to pay its foreign debts, causing inflation to grow.
1. How to avoid common mistakes
Now it is time to act. Stop being a part of the system, and rely on your own resources:
- Instead of taking a loan for your business, find an investor.
- Instead of getting a mortgage, rent an apartment, and save money to buy a house.
- Instead of putting money into a savings account, invest.
However, we all know that money is not the most important thing in the world, right?