Money Matters: The Bank of England

As one who likes to spend money, I didn’t know much more than I work to earn money so I can siphon it away on pretty and practical things (you have to eat right?). A trip to the Bank of England taught me there is so much more going on.

It is all about trust: trust you can trade a note for somethings you want, and trust that when you put your money into a bank you can collect that money at anytime. If people don’t trust their bank like this they remove their money in an attempt to keep it safe, leading to a collapse of the bank and a downward trend in the economy. This is where the Bank of England steps in.

It is all a balancing act of spending, to keep a constant inflation rate…

Who knew there was so much behind money?! I’m very glad others understand this more than me!! Think  I’ll stick to fixing broken bones and diseases 🙂 But I definitely enjoyed the Bank of England Museum and the history behind it all!

IMG_2981        IMG_2988

Fun Facts:

  • William Shakespeare was the first historical figure to appear on the bank note (1970)
  • If you look closely at all notes there are the words: ‘Promise to pay’
  • 1694 Bank of England notes were first issued
  • 1960 Was the first use of a monarch’s portrait (Elizabeth II)
  • Elizabeth Fry (5 pound note) will be replaced by Winston Churchill (around 2016)
  • Charles Darwin  (10 pound note) [I am sad to see this one change! ]will be replaced by Jane Austin (around 2017)
  • You can vote for who will appear next on the 20 pound note!!!!
  • When you place the notes under a black-light security features appear ( I especially like the 20 pound note, as it looks like bacteria!)
  • A gold brick is currently worth ~300,000 pounds (and it is heavy!!!)

IMG_2972          IMG_2976

Yes this is my attempts at trying to pick up a gold brick!!!

Till next time…

Advertisements

3 thoughts on “Money Matters: The Bank of England

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s