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When banks have extra money, they send it to the Fed where it is put into a machine that sorts the different bills and spots counterfeit money. If some bills are worn and
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| What happens to the bills that can't be used anymore? And when will a new bill be made? | |
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| They will be shredded by machines and thrown at landfills. For every dollar that is destroyed by these machines, another is created to keep that balance. | |
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The FDIC Insurance protects your money that is deposited into the bank.
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| Is the money i deposit into my bank safe? | |
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| Yes; the FDIC Insurance protects it. | |
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without the Fed, our economy will suffer horribly and the money people deposit won't be safe. There could be a recession and inflation if it weren't for the Fed. So, THANK YOU FED! =D
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| Wow, so I guess our economy will suffer a lot without the Fed right? | |
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| Yep; and so will our company if you don't get back to work! | |
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