So this is actually a thing…
It’s a £100 million bank note issued by the Bank of England (non-circulating sadly). They are created and stored in vaults. Banks in Scotland and Northern Ireland can issue currency against them. Think of it as the currency “budget” of these banks.
Remember, once upon a time £1 = 1lb of sterling (97.5% purity) silver.
Now they just write “£100 million” on a piece of paper and it becomes real – no need to go to the trouble of digging silver out of the ground.
Fun fact for the day.
Enter your details above to receive a link you can use to download your FREE pdf
Read More
Here's What New Associates Need To Know
Why I Left Clinical Dentistry At 29 And Said "Laters" To The GDC At 32
Should We Listen To The News When Investing?
What Is Your Definition Of Retirement?
How Often Do You Look Back On Your Life And Think “I Wish That I Knew Than What I Know Now?”