Saturday, December 5, 2015

Prepare to be Amazed - Part 1



More info from the Grandpartent.com site that I just had to share.

Did you know a dollar bill has hidden pictures, flecks of color, and mysterious symbols? And that’s just the beginning. What do all those seemingly random letters and Latin phrases mean, anyway? Now you can find out — and share the answers with your grandkids.

A dollar is worth far more than you realize — it’s a chance to teach your grandkids something really cool. Read on to find out just how valuable it really is.

The Basics: How much is a dollar worth?


The question seems simple, but the answer is quite complex. Since 1973, the dollar bill has had no value tied to it. You cannot trade in a dollar to the government for gold, silver, or any other commodity. The value of the nation's currency is related to the decree by the government that a dollar is legal tender for all debts. This means if someone attempts to pay a debt using dollars, the person being paid must accept the money or the law no longer recognizes the debt. This is important enough that the phrase is printed on every bill the government creates.

It is also vital for the nation's citizens to agree that the bills have value. If the members of a society decided that they did not believe in the currency, it would quickly be worth no more than the paper it is printed on. For the record, each bill costs the government 6.4 cents to print.
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