Money & Fun Facts

Money and Fun Facts

Just some fun facts about money people may like to know?

Money is a way we pay for things, public and private debate! So money is basically a I.O.U. which means, I will pay you later, you in gold or silver.

How is this? This was based off of the gold standard. At one point and time in America  money was backed with gold, to make sure the money held its value.
Money is not backed by anything, anymore, which means its worthless! The money system we use now is a system where the money is controlled by complex math of fluctuation, called a Fiat money system! 

*Tip
The truth be told the U.S. dollar {money} isn't worth the ink its print with! The coins have very little value also, they are minted out of copper and zinc mostly!

The gold standard has been around a very long time. The first King to mint gold coins in the world was the African Emperor Ezana (320s to 340s a.d.) of Ethiopia/ Axum.     

Why is money nicknamed paper?  Because its not made of paper! Money is actually made of cotton! 25% linen and 75% cotton. It also has synthetic blue fiber! Before WWI these fibers where made of silk.

No African- Americans have ever been on paper money. There has been three (3) African- Americans on commemorative coins, Booker T. Washington, George Washington Carver and Jackie Robinson.

There has been four (4) African- American treasurer. One of them was a African- American woman!

Just some fun facts while learning!

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