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hard to know | If bank notes are made out of paper..............???? |
And presumabally can be made by cutting down a tree or something , Why cant more money be "made" and given to the poor?
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I mean , not enough to have a huge impact on the economy , but just a little financial injection! |
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scobranchi
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It doesn't matter what money is made from...whether it's paper, linen, metal, etc. Money is just a representation of the backing of the country that issues it. If you are using the gold standard then it's based on the gold reserves of that country. Countries that no longer use that standard just use the "full backing" of the country that issues it. In other words, it's based on the economy and monetary reserves of the country of issuance compared to all the other countries that issue money.
If you were to just start printing money, all you would be doing would be diluting the value of all the other money that people have and then you would just have inflation. The cost of everything would go up and the value of your currency compared to other countries would go down. In the end, it doesn't help the poor and it ends-up throwing your economy into a mess. Just look at some of the countries that have done this. They have 1000%+ inflation rates and can't function in the world markets. |
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paul b
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Thats a good point man but the biggest problem is that the poor countrys have bad governments.The poor people will never see the money because the government will keep it for themselves.All the rich countrys have sent money to africa and other places but it changes nothing because there are really greedy individuals in power in poor countrys |
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avondrow
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No, for one thing, they are made of a linen like substance, not paper, and the idea is that they are promissory notes, and have to represent genuine amounts of real cash! Somewhere in the reserves there has to be actual precious metal backing up the face value of the note. |
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Medium Dave
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Yeah, just like they did in Zimbabwe. Now everyone there is a millionaire - which is just as well, as a loaf of bread will cost you a couple of million dollars. |
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Eddy T
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A country prints bank notes or money not to give to its people or to give them out to other countries. It prints money for use as a medium of exchage for goods and services for its people or to finance international trade in orther countries. Hope this can help. |
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nosdda
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Because any money in circulation can only be honoured if the bank of England has the gold reserves to pay it.
Paper money states that "I promise to pay". So the Bank of England must have the funds to pay it otherwise the money is worthless. |
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davetumalty
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Bank notes are made of a paper linen mix.
Manufacturing more notes and coins is not a problem there is no shortage of materials.
Money ie notes and coins are only issued up to the value of commodities held in reserve by the Bank of England.
For example if there is currenty £2,000,000,000 worth of notes in circulation then there must be an equal or greater value of commodities held in reserve
The Bank of England has a number of differant commodities in reserve including, presious metals, jewls, oil, iron ore, and more
So before the Bank of England will issue more notes they must aquire an equal or greater amount of commodities to hold. |
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Max Power
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Paper money is just a promise to pay the bearer the value of the note in gold , by printing more you need more gold to back the notes you printed , the solution of printing more money would just devalue the money , hence the £100 pound note being able to buy you say 2 units of gold it may only buy you 1.75 units , because of this everyone suffers , especially when it comes to trading with other countries |
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Marley
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Its not made fully out of paper, banknotes are made of dense starch paper which is sometimes mixed with linen, abaca, or other textile fibres. the paper used is different from ordinary paper: it is much more resilient, resists wear and tear. |
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LAURIE S
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keep in mind that the more bank notes made, the less the money is worth. so peoples savings will be less and prices will go up |
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Clear View
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The British £ isn't backed by gold reserves or commodities anymore and hasn't been for years!!! It depends on the situation of the economy at the time to how much money is in the system. Which is why the bank of England adjust interest rates.
Giving out more money than the benefit's system already does would more than likely push up inflation rates. |
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