Tuesday, December 23rd, 2008 | Author: markross
I was browsing around online, then read an interesting fact; it says that The US shreds 7,000 tons of used currency each year. I could not help but wonder, is that synonymous to a bailout? hmmm. Mark
Category: Politics, The Economy
Where is this shredder.. I wouldn’t mind taking some off their hands to help out, y’know… :lol:
LOL,
I hear ya! :smile:
7,000 tons!! Do you know how much a dollar or a 100 dollar bill weighs? 7,000 tons is a lot of cash.
On a side note, I really like the design of this site.. good job
Hi AK,
Thanks for the compliment!
I actually do not know how much a 100 dollar bill weighs, I read that on a did you know fact page. I suppose I am just taking their word for it : )
I’m sure, with an Internet search, you could find the actual weight; and yes, that is a lot of cash : )
Mark
yeah which is about $10 billion worth of money. The biggest shredder is in The Federal Reserve of New York, which disposes about $49 million every day.
oh by the way it’s used and/or worn out currency that they dispose.
Hi Sarah,
That’s interesting, when you stop and think about it from an economics standpoint, that money has been printed, and has already worked its way through the system; so, how do they make up for the loss? My guess is that for all money that is disposed of, new money is printed. However, I am not sure of that.
Mark