Why the Bank of England still uses giant keys

HERE’S THE INTERESTING PART

Because when you are guarding billions of pounds of bullion, a simple digital keypad just lacks the proper medieval gravitas. Unlocking the deepest reserves still literally requires burly guards physically turning absurdly massive metal rods by hand.

From the Stacky collection1 min read

Why the Bank of England still uses giant keys — STACKY / Economy

Topics in this factbankingbullionhistory

One discovery leads to another.

Keep exploring facts in this topic.

Economy →

ONE MORE DISCOVERY?

Keep exploring

All in this topic →

Economy

Why banks once closed to stop a panic

When institutions literally run out of the cash they promised they had, the easiest solution is to simply lock the front doors. These mandatory rest days were…

Discover more

Economy

Swiss bank secrecy began as protection for Jewish assets

The world's most famous tax evasion tool actually started as a human rights initiative. The 1934 Swiss Banking Act made it a criminal offense for banks to…

Discover more

Economy

Ancient Egyptians used grain receipts like money

Long before central banks, farmers were flexing their wheat portfolios. Wealth in ancient Egypt was stored in massive state-run grain silos. Instead of…

Discover more

Economy

Bank of America, the massive financial institution that practically runs the modern United States economy, was originally founded in San Francisco in 1904 by a man named Amadeo Giannini under the name Bank of Italy.

Bank of America, the massive financial institution that practically runs the modern United States economy, was originally founded in San Francisco in 1904 by…

Discover more

Economy

When Greek temples doubled as banks

Mixing aggressive divine worship with subprime lending is a truly ancient tradition. Because heavily guarded temples were the safest buildings in town,…

Discover more

Economy

Credit card companies actively refer to customers who pay off their balances in full every month as 'deadbeats' because they don't generate any revenue from exorbitant interest rates.

Credit card companies actively refer to customers who pay off their balances in full every month as 'deadbeats' because they don't generate any revenue from…

Discover more

Why the Bank of England still uses giant keys

A bigger world.One discoveryat a time.

Keep exploring

Why banks once closed to stop a panic

Swiss bank secrecy began as protection for Jewish assets

Ancient Egyptians used grain receipts like money

Bank of America, the massive financial institution that practically runs the modern United States economy, was originally founded in San Francisco in 1904 by a man named Amadeo Giannini under the name Bank of Italy.

When Greek temples doubled as banks

Credit card companies actively refer to customers who pay off their balances in full every month as 'deadbeats' because they don't generate any revenue from exorbitant interest rates.

A bigger world.
One discovery
at a time.