Is the U.S. Dollar valued so little or valued so much?
The British Museum, according to the BBC article, has recently opened the Citi Money Gallery aka Room 68. The video embedded the article details the history and provides examples or use of currency throughout time. Interestingly enough, what really caught my attention is found at the 4:11 mark, screen capture below, and the verbal details recorded…
A US Dollar Hidden in Special Pockets in Undergarments/Preparation Head’s Up, Anyone, Anyone?
Catherine Eagletonstates, who is the curator of the collection, reveals much beginning at the 3:30 mark
“… So one of the really interesting challenges for countries is what to do if there’s some kind of crisis or disaster, how to rebuild. If the economy collapses, the bank might have to take action. If what’s destroyed is the banking system itself, as happened in Haiti during (the) aftermath of the earthquake, you’ve got a big problem on your hands. And what happened in Haiti, was there was a lot of money put into developing mobile phone payments and in Haiti you’ve got very specific issues… it’s a very poor country and now there’s issues around security. And, so people have started using mobile phones to do all sorts of things not just make payments but to store their money safely. So before you might have to keep your money in special pants, like these, with pockets to conceal your banknotes. Now you can put it onto your mobile phone, walk across town, and nobody can see how much money you are carrying, so it’s safer. And in some ways places like Haiti now, are more advanced than Europe and America. They have sort of leapfrogged, but out of necessity, in the aftermath of a crisis. And I think the developed world has got a lot to learn from *schemes like this…”
*my highlighting/tilting/linking… yes it means exactly the same in American English as British English… Eerie choice of word.