A couple of fun facts about bank tellers and background of banks

Banking systems are an invaluable component of the world’s economy. Keep on perusing to find out why.

When thinking of banks, Switzerland is perhaps the country many related to this type of service. This small country in the Alps is presently home to a number of the world’s leading banks like UBS and Credit Suisse. The history of this country is full of fun banking facts. As an example, did you acknowledge that the national bank of Switzerland is not literally owned by the government? Central banks are always owned by the government they are located in, but in the case of Switzerland they are owned by the different Swiss cantons, cantonal banks, and private individuals and firms.

Banks have been around, in one form or another, for nearly as long as money itself. The original banks most probably emerged because governments wanted a place to store the tax they levied in the form of coins – a little world currency trivia. Temples in Ancient Babylon, Greece, Rome and Egypt were the very first places to store the money of governments and individuals. Temples made for safe places, since they were populated by men and women like priests and temple workers who were there twenty-four hours a day, and were generally thought of as honest. Gradually, these temples began offering other monetary services such as giving out loans, which led to the development of dedicated financial institutions, known now as banks. In modern times we can discover varieties of numerous banks, like the European Central Bank or the Bank of England, offering all kinds of financial solutions both to individuals and governments.

Money and banks go hand-in-hand. You will find that money facts and trivia is much more important than you would anticipate. But first, let’s understand what money really is. Money in itself is not anything, it is merely a standardized unit to measure the value of any service or given good. Money does not have an inherent value, and is just valuable if everybody else consents to its value. Money has existed for at least 3000 years. This was a time before any orderly written reports began which makes it difficult for us to evaluate the history of growth of monetary systems. Presently, this job is done primarily by banks such as La Caixa and BEA. Before the advent of money, the barter systems was prevalent in evaluating the value of services and goods. If you were a farmer that needed their roof thatched, a thatcher may perhaps desire particular amount of vegetables or grain. This is very similar to how money functions, except in a barter system there was no set value for everything and you would normally decide how much and what would be exchanged. By using a standardised unit, like pound sterling or American dollars, we have the benefit of speed in any type of financial transaction, which is likely one of the most essential facts about currency.

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