2006-08-22 03:01:32 · 6 answers · asked by Cat 2 in Business & Finance ➔ Other - Business & Finance
each bank declares it amounts to central sources..and they then know how much is actually in everyones pockets..just like you do when you pay in your 1 and 2 p pieces....they work it out..but the best money is the money you find..if you found a purse/wallet with id for a senior citizen/oap..would you return it or nick it?me i would return it .it would be like stealing off your mum or dad or gran and grandad...however if you found a big bag of cash at the side of the road..and its says its the local bookies..would you keep it or return it?...me..proberly return it ..
2006-08-22 03:14:52 · answer #1 · answered by hondanut 4 · 0⤊ 0⤋
Money used to be backed by gold. Hence on a fiver the words "We promise to pay the bearer the sum of Five pounds". Now go to the bank of England and ask for your 5 lbs of gold! lol. Governments print money willy nilly since the gold standard was abolished. Gordon Brown sold a lot of the UK gold not long ago and replaced it with "foreign currency" ; why he didn't just ask the printers to print that too is beyond me! Basically, if too much money is slushing around in the economy - shops put prices up and become less competitive and we get inflation. But Gordon solved that problem with a housing shortage - now people spend all their money on mortgages and paying off loans and credit cards. The Bank of England loves people to collect coins too - it keeps them out of circulation! Incidentally, anything you can use to go and buy stuff with is money even credits on a computer. In theory you can print your own. Some communities have their own money and use it to exchange goods and services. Send me an email and you can open a secret account at my bank - your account number will be 0000001.
That must be a top answer! LOL
2006-08-22 03:31:24 · answer #2 · answered by Mike10613 6 · 0⤊ 0⤋
The banks can only estimate what is lost every year because they can never know for sure. The Royal Mint is in constant production so it doesn`t really matter
2006-08-22 03:09:02 · answer #3 · answered by dnlrawson 4 · 0⤊ 0⤋
The bank wouldn't know and wouldn't replace the lost money.
2006-08-22 03:09:07 · answer #4 · answered by spot 5 · 1⤊ 0⤋
they just do its all managed by the bank of england they do all that sort of work if you are interested in more info go to www.bank of england.org..uk
2006-08-22 03:08:12 · answer #5 · answered by Anonymous · 0⤊ 0⤋
they dont, the royal mint is constantly pumping the green out
2006-08-22 03:08:49 · answer #6 · answered by Dead2TheWind 3 · 0⤊ 0⤋