Man buried retirement cash, only to have it eaten by worms


Five years ago, a fisherman in Deyang, China, buried his entire life savings. The amount he buried totaled about US$5,500. When Wu Chen, 67, and his family recently dug it up, they discovered that the plastic bag the bills were in had deteriorated. Worms and insects had eaten through much of his cash.

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Can you pass this personal financial literacy test?

Standard & Poor’s, Gallup, the World Bank, and George Washington University gave a five-question test on personal financial concepts to 150,000 people in more than 140 countries. Only 33% of people passed by demonstrating competency in three out of the four topics covered: risk, inflation, interest, and compound interest. Here's the quiz:

1. Risk Diversification: Question: Suppose you have some money. Is it safer to put your money into one business or investment, or to put your money into multiple businesses or investments?

2. Inflation: Question: Suppose over the next 10 years the prices of the things you buy double. If your income ALSO doubles, will you be able to buy less than you can buy today, the same as you can buy today, OR more than you can buy today?

3. Numeracy and Comparison (Debt): Question: Suppose you need to borrow $100. Which is the lower amount to pay back: $105 or $100 plus three percent?

4. Interest Compounding (Saving): Question: Suppose you put money in the bank for two years and the bank agrees to add 15 percent per year to your account. Will the bank add MORE money to your account the second year than it did the first year, or will it add the same amount of money both years?

5. Interest Compounding (Saving and Numeracy): Question: Suppose you had $100 in a savings account and the bank adds 10 percent per year to the account. How much money would you have in the account after five years if you did not remove any money from the account?

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Woman shredded $1 million before death to spite relatives


An 85-year-old woman in Vienna shredded more than $1 million in cash before dying just to zing her relatives. Amazingly, the National Bank of Austria (OeNB) will replace all the cash.

"If the heirs can only find shreds of money and if the origin of the money is assured, then of course it can all be replaced," said Friedrich Hammerschmidt, deputy head of the OeNB. "If we didn't pay out the money then we would be punishing the wrong people."

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Watch: fake $50 bill revealed to be a $10 bill


It appears that someone put decals on this $10 bill to pass it off as a $50. I'm sure most marks wouldn't notice that Hamilton's face is on the bill when it should be Grant, especially in another country where the currency is less familiar. Read the rest

Molly Crabapple's dystopian take on The Great New York Stock Exchange Outage of July, 2015

What a bunch of bull.
“I was met by fires in the streets, the screams of the dying tourists and the shouts of former traders offering sacrifices to their new gods...”

A woman will replace Alexander Hamilton on the new US $10 bill

A yet-to-be-determined woman will replace Alexander Hamilton's mug on the US $10 bill, according to Treasury Secretary Jack Lew. Read the rest

Amazingly fast counting of Chinese cash


Watch those fingers go!

Below, a classic video showing more cash counting techniques from around the world:

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Anarchy in the UK Mastercards

Because irony is alive and well in the 21st century. I'm holding out for my Kill the Poor platinum Amex. Read the rest

The most beautiful money in U.S. history

Why isn't our currency this gorgeous now?

Interpenetrated coin art

Robert Wechsler makes sculptures by notching and connecting coins to one another to great effect, thanks to the familiarity of the materials and the seeming impossibility of their arrangement. Read the rest

Beautiful imaginary Hungarian money

Barbara Bernát designed a series of fanciful Hungarian euro notes for her MA project at the University of West Hungary. Read the rest

Debt, a photo project

Spurred by her own financial hardship experiences, photographer Brittany Powell embarked on "The Debt Project," a series of formal photo portraits of myriad Americans in debt accompanied by their handwritten debt stories and, eventually, audio interviews. Powell is hoping to complete the project with funding from a Kickstarter campaign. Read the rest

Open call for digital art funding proposals from Thespace

Paula writes, "TheSpace is the largest fund currently dedicated to commissioning and exhibiting digital art. This latest funding call is dedicated to work that considers or responds to the affordances of mobile networked devices - whether that is a phone, wearable, tablet or..." Read the rest

Hacker School grants for women, people of color, other people under-represented in tech

Nicholas writes, "Hacker School is a three-month, free-for-everyone programming retreat for experienced and new programmers alike, now offering need-based living expense grants to women, black people, Latino/as, and people from many other groups traditionally underrepresented in programming. Read the rest

What does minimum wage get you

Billy Domineau at Matter: If you have a minimum wage job ($7.25/hour), you need to work 55 hours to buy an iPhone 6 Plus (64 GB), and 149 hours for a year of Verizon service; 74 minutes gets you a Sara Lee Frozen Apple Pie. Read the rest

Counterfeit money up close

Someone sent Brian Krebs an envelope of counterfeit $100 and $50 bills, apparently manufactured by Mrmouse, the counterfeiter whom Krebs outed for selling his notes openly on Reddit. Read the rest

Finnish national broadcaster will transmit blockchain over terrestrial digital TV network

The Finnish national broadcaster has partnered with Kryptoradio to broadcast the Bitcoin blockchain over the digital television network making it accessible over a non-Internet channel to 95% of the Finnish population. Read the rest

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