How (and why) banks handle money
When’s the last time someone gave you a lollipop? Maybe it’s been a while. But there’s a good chance it was at the bank. Right? You may have been waiting in line with your parent. You might even have your own bank account. But what exactly is a bank? People go to banks to deposit money (put it in) or withdraw money (take it out). But how does this really work? Where does your money go?
All the Money in the World
Check your pockets and look under the couch cushions. Maybe you score some change. How much money is really out there? A lot! If you only count American dollars, people around the world are exchanging approximately $1.70 trillion. Add in other currencies, and you’d get an even bigger number. It can be difficult to wrap our brains around numbers that large. But all that money isn’t in one place. It’s spread out among billions of people and their banks. Banks keep some of the money that customers deposit on site. But in the US, another portion of the money goes to the Federal Reserve Bank. This central bank acts a little like a bank for banks. It’s sort of like a warehouse that stores money safely until your local bank needs it.
Denne historien er fra April 2019-utgaven av Muse Science Magazine for Kids.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra April 2019-utgaven av Muse Science Magazine for Kids.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
A Mars Rock Found With Leopard Spots Could Be a Sign of Ancient Life
IN JULY, NASA'S PERSEVERANCE ROVER CAME ACROSS A SPOTTED ROCK IN WHAT WAS ONCE A RIVERBED IN THE JEZERO CRATER ON MARS.
Para Athlete Uses Exoskeleton Suit to Carry the Olympic Torch
In July, a 36-year-old French tennis para athlete, Kevin Piette, got a chance to participate in this summer’s Olympic torch relay without using a wheelchair.
Ancient Egyptians May Have Used a Water System to Lift Stones to Build Pyramid
HOW ANCIENT EGYPTIANS BUILT THE MASSIVE PYRAMIDS IN EGYPT MORE THAN 4,000 YEARS AGO HAS LONG BEEN A TOPIC OF WONDER AND DEBATE.
Seals Can Make Big Dives Thanks to Their Big Hearts
SEALS AND SEA LIONS, WHICH ARE SEMI-AQUATIC MAMMALS, CAN HOLD THEIR BREATHS UNDERWATER FOR ESPECIALLY LONG PERIODS OF TIME.
THE BIG-CITY LIFE OF STEVEN J.BIKE SHOP RABBIT IN BROOKLYN, NEW YORK
Bicycle Roots is a full-service bike shop. It's in the heart of Brooklyn, New York. Joe Lawler is the co-owner and service manager. Perhaps more important, he's \"dad\" to the shop's most popular employee. That's Steven J. Lawler.
Wild Ones
WHAT FACTORS DRIVE PEOPLE TO BUY MONKEYS, TIGERS, AND OTHER WILD ANIMALS?
HOW TO CONQUER THE WORLD
A brief history
What would happen if meteors hit Earth?
You may have seen Ameteors fly into Earth's atmosphere, in the form of shooting stars.
WORKING WORMS
DON'T JUST THROW THOSE TABLE SCRAPS AWAY! LET A BOX OF WORMS TURN THEM INTO SOMETHING USEFUL.
Dog Rescue Saves Lives
THE ARGUMENT FOR ADOPTING A NO-KILL GOAL