Where does money come from?
Generally, there exist an item or items that others desire, like gold. People may stamp the gold to show how much it weighs, but it's still gold and traded like any other nuggets of gold and the stamp is simply a means to signal to others how much gold that item has. This is known as commodity money. Governments may claim these stamped pieces as a standard, but you don't really care since it's gold and you know other people want gold.http://en.wikipedia.org/wiki/Com...Now, you have too much gold to just carry around so you decide to give it to someone to keep. In return, he gives you a receipt that says "This receipt lets you later claim the 1 lb of gold you gave me". Others know what this receipt does, so they decide to trade receipts rather than carry around coins. Eventually someone really powerful, like the government, will want to control these receipts. This is known as representative money.http://en.wikipedia.org/wiki/Rep...Eventually, governments standardize these notes into currency. When they get too big, or decide they want more control over what this currency is worth, they eventually break from it and say something like "Your receipts aren't good for gold any more, but you can use them for taxes". Since everyone has to pay taxes, people are generally happy to continue using your currency. This is known as fiat money.http://en.wikipedia.org/wiki/Fia...
Where does he purse money come from.?
The track.. From the Rake.. Here is a list of percentages taken from pools diff. tracks.. varies by state and by pool. The takeout from the win/place/show pool is usually the smallest, and the rake gets bigger for exotic bets (exactas, trifectas, etc.) and multi-race bets (pick-3, pick-4, and pick-6 wagers). Racetrack Takeout Percentage by Bet Type Racetrack WPS Exacta Tri Pick 3 Pick 6 Arlington 0.17 0.205 0.25 0.25 0.25 Aqueduct 0.15 0.175 0.25 0.25 0.25 Belmont 0.15 0.175 0.25 0.25 0.25 Churchill Downs 0.16 0.19 0.19 0.19 0.19 Del Mar 0.154 0.207 0.207 0.207 0.207 Fairgrounds 0.17 0.205 0.25 0.25 0.25 Gulfstream 0.15 0.2 0.25 0.2 0.2 Keeneland 0.16 0.19 0.19 0.17 0.17 Monmouth 0.17 0.19 0.25 0.25 0.25 Santa Anita 0.154 0.207 0.207 0.207 0.207 Saratoga 0.15 0.175 0.25 0.25 0.25 Woodbine 0.17 0.205 0.283 0.263 0.263 As you can see from the takeout chart on the left, the WPS pools (Win, Place, Show bets) have the lowest takeouts. At Churchill Downs 16% of the money bet in the WPS pool is taken out before odds are shown or payouts made. The takeout for the exotic bets are higher - 19%. The more difficult the bet is to win, the more money the tracks take. Hitting a pick-6 is difficult enough, but at Woodbine racetrack in Canada they are taking over 26% of the money bet on the pick-6 before making a payout so take that into consideration when you are trying to hit the big one! These takeout percentages change often with new tax rules, so check with your local racetrack to get the latest and most accurate information. Horse Racing Future Odds and Proposition Bets So if an exacta pool has 100K bet .. The track rakes 25K off the top.. That's where claiming purses come from.. Also entry fee club house admission.. Stakes and Allowance are a bit different. If your wondering what those percentages are.. OK.. First is the WPS pool Second is the Exacta pool Third is the Trifecta pool Fourth is the Pick 3 pool Fifth is the Pick 6 pool Hope this helped..
Where does money come from in USA?
United States coins are minted by the United States Mint; its paper money is printed by the Bureau of Engraving and Printing.From there, I think it goes to Federal Reserve banks, and from there to regular banks and credit unions.
Where does the money from the lottery come from?
From your purchase, only a portion of it goes to the jackpot. The winner(s) and retailers will get portions from the winning amount because majority of winners take their winnings in lump sum and in addition will have to pay taxes on their winnings.The rest, the government decides to do what they want.
Where does military money come from?
And you forgot my Retirement Pay. Yes I get a check from the government every month. And my disability payments too. the Government has deep pockets, But I believe I worked for every dime I get. Please pay your taxes on time. SFC US Army Retired
Where does the money from the lottery come from?
TL:DR. Think of it like this:1 million people buy lottery tickets for $1 apiece. The state keeps half of the money (in reality, it probably keeps much more) and sets aside the other half for the winners. The one who guesses all numbers right gets the grand prize of $200,000, and the remaining $300,000 is divided among the other winners.If nobody wins the grand prize, the money ($200,000) rolls over to the next draw, with the same percentage of ticket sales added to the pot (it now reaches $700,000 in our example). And so on, and so forth, until we reach insane amounts (like the $1.6 billion Mega Millions jackpot).
Where does lottery money come from?
Unce Sam who takes a chunk back
From where does money actually come?
Unfortunately, no one can be told what the Matrix is. You have to see it for yourself. -MorpheusThe government and central banks.But where do they get their money from?Well simple answer, they create it.Out of thin air.And if you argue that money is backed by gold, you would be pretty off- roughly 4.5 % of the US Dollar is backed by gold.And if you really think about it, it all makes sense. Money is just a promise between two parties. The money you have in your bank or wallet is essentially worthless- it’s your faith in the institution that backs the currency that gives those greenbacks value.Most money in the world is electronic- just ones and zeros in binary that produce the number you see in your bank account.If you didn't realize already, only around 3–8% of the world’s money is in printed coins/bills- which implies that over 90% of the world’s money supply is electronic.In a loose sense, we are already operating with cryptocurrencies- minus the central authorities and all the technology associated with cryptocoins.In cryptocurrencies, it’s our faith in the underlying technology (namely, blockchain) and our faith in the majority of the fellow users. It benefits everyone to keep the blockchain working- a Mutually Assured Benefits (MAB), if you will.And if you really think about it, you could potentially live the rest of your life without interacting with a single printed currency -just avoid those “Cash Only” stores and somewhat sketchy street vendors selling fidget spinners or fake Pokemon cards.Cheers.SourcesDoes the Fed Create Money Out of Thin Air?Only One Currency Is Still Backed By GoldWhat percentage of the world's money is digital?
Where does the money come from in Forex Trading?
Its an economical concept,When you sell something, somebody buys it. Its after all the money in the forex market is the money people have invested, The main investors are banks, Forex brokers, Liquidity providers, Institutional investors and retail forex traders.When a trader buy and sell it on higher price to make profit. there should be some traders buying at the level where he is selling.So, he gets the money from the Buyer, after cutting down brokerage charges. If you are interested in learning much more about forex market, go my blog article http://tradingwithtatu.com/10-st...