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Bridget Bodnar
Hey, Story pirates Podcast listeners, we have a very special treat for you today. Our friends at Million Bazillion are sharing a really fun episode of their podcast with us. On a trip to Washington, D.C. bridget and Ryan discover why there are so many different currencies in the world, like the Mexican peso, Japanese yen, and the US Dollar. As they make their way through the city, they even run into the ghost of Alexander Hamilton, who has an important lesson to share through song. If you'd like to hear more from Million Bazillion, you can find them anywhere you listen to podcasts. Hope you enjoy the episode.
Ryan Perez
Here we are in Washington D.C. our nation's capital.
Thanks so much for bringing me along on this trip that you won on that radio trivia contest.
Oh, don't mention Internet. I'm glad knowing all the American presidents in order finally paid off. George Washington was the first Pres. John Adams is known as the second Pres. Thomas Jefferson.
Oh, look, here we are at the Lincoln Memorial. Imagine if this big Lincoln statue could talk. I wonder what it would say.
Washington Monument
Remember, a government of the people, by the people, for the people shall not perish from the earth.
Ryan Perez
Wow, such inspiring words. And hey, look, it's the Washington Monument. I wonder what this magnificent obelisk would say if it could talk.
Washington Monument
Um, why am I just a big stick made out of stone?
Ryan Perez
Huh?
Washington Monument
Yeah, you heard me. Why does Lincoln get a big monument that looks exactly like him? Washington gets me a gray column with a pointy top. What am I even supposed to look like? A pencil? Did Washington really like pencils?
Ryan Perez
I don't think so. I think you're just supposed to be like a tall, impressive structure.
Washington Monument
I mean, maybe I'm supposed to be like a finger pointing up, like number one for number one president.
Ryan Perez
I don't think that's it.
Washington Monument
Oh, no, no, I got it. I got it. When you think about it, I think what I really look like is sort of like.
Ryan Perez
Hold on a minute. Washington Monument. We gotta start the show.
You're listening to Million Bazillion. I'm Ryan.
And I'm Bridget. And we help dollars make more sense.
Let's hear today's question.
Oliver
I'm Oliver from Illinois. My question is, why do different countries use different money?
Ryan Perez
Really interesting question, Oliver. And it's true. Most countries have their own unique type of currency. Currency. That's another word for money that you're going to hear a lot in this currency. Countries usually want you to use their money or currency if you're in that country.
Like in Japan, they use The Japanese yen. And in India, they use the rupee. You know, this is actually a perfect question for us to answer while we're here in D.C. but the place where a lot of money decisions in this country are made. Oh, hey. Hey.
Washington Monument
I figured it out. I think I figured it out.
Ryan Perez
Oh, Washington Monument. You're back.
Washington Monument
You know how Washington had wooden teeth? Maybe I am a tooth. Like a big, long, sharp tooth.
Ryan Perez
I think you nailed it. Okay, let's go to another part of the city far away from the Washington Monument.
Good idea. We'll be right back after this. And now it's time for asking random kids not so random questions. Today's question is why do you think money exists?
Oliver
So in old times we would trade so you can buy stuff without bartering and not carry a bunch of heavy stuff. What if someone didn't want that thing so we can spend it to make things fair. Well, to buy stuff because people need it. And the king of coins created coins. Because if you don't have money, you can't buy anything to live. You'll just be naked and walking around with stuff. So people can buy stuff. Well, so people can buy what they want or need. It would hurt your feet. By the time you went, you got the thing you needed.
Ellen Feingold
That was Nora and Connor from St. Louis. Allen from Missouri, Mickey and Joshua from Denver.
Ryan Perez
Elliot from Saudi Arabia.
Ellen Feingold
Aaron and Roman from New York City. Josephine and Isabel from Los Angeles. And William from Pittstown, New Jersey. This has been asking random kids, not so random questions.
Ryan Perez
Welcome back. We are here at the Smithsonian in Washington, D.C. this is part of a bunch of museums created by the US Government to keep and display important historical pieces. And they do research and like a bunch of fun learning stuff here. And they also have this huge money collection.
Hey, Bridget, I just bought us some tri corner hats so we'll look like old timey people. Look at me. I look like Paul Revere in this hat. A great, great look for me. Put yours on.
I'm not sure a felt triangle on my head is my best look. Do we have to?
No, no. I did just spend $57 on these hats. But you don't have to wear yours.
Okay, fine. Give me the hat. All right, so we're here to find some answers to Oliver's question. Why do different countries use different money? And the person I immediately thought of talking to was Ellen Feingold. Regular listeners will remember her. She is the curator of the National Numismatic Collection here at the Smithsonian.
Numismatic is a fancy word for money and currency, right?
Exactly right, Ryan. Okay, there she is. Hi, Ellen. Hi, Bridget.
Ellen Feingold
Hi, Ryan. I like the hats.
Ryan Perez
Okay, well, let's just get to it. Okay, so our listener Oliver sent in this question. Why do different countries use different currency?
Ellen Feingold
That's a great question.
Ryan Perez
He actually was inspired by your last Million Bazillion episode, Ellen, when we talked about the way Canadian and American money just looks different. So. So what do you think? How would you answer this?
Ellen Feingold
So each country has the opportunity on their banknotes and their coins to tell their own story.
Ryan Perez
Tell a story through money. What do you mean by that?
Ellen Feingold
One example of that is in Guatemala.
Ryan Perez
Here, let's just bring up a picture of what money looks like in Guatemala. Ryan, can you describe it?
Okay, so these bills are really colorful, and there are different people featured on one side, and there's other scenes on the other side. All seems to be very historical. Also, they all have this bird flying across with this very long, flowing set of tail feathers.
Ellen Feingold
The bird is called a resplendent quetzal, and the currency is actually called the quetzal after that bird. The reason for this is because historically, that bird's tail feathers were used as currency among indigenous communities there. And so the use of the image of that bird, its tail feathers, and the naming of the currency is part of how the Guatemalan government shares and remembers, commemorates, their national history.
Ryan Perez
Okay, so awesome to have this physical thing that helps tell the story of your country and its people and its history. But there's gotta be another reason why countries go through the trouble of making their own money, right?
Ellen Feingold
Money is also a really important symbol and signal of national sovereignty.
Ryan Perez
Ooh, sovereignty. That's a fun word. It means when a country gets to be its own boss.
Ryan, you really studied up on all these new words we're using. Awesome.
Ellen Feingold
Having the power to issue your own currency is a really important part of being a nation. And it says, we are in control of ourselves and we have our own money. We don't need to rely on another country. We also don't have the interference of another country in our national economy.
Ryan Perez
This is kind of like what happened in the US we used to use the British pound, but then we didn't want to anymore, so we made up our own system.
Ellen Feingold
The Constitution actually says that in the United States, this country has the power to create a mint and make our own coins. And this was a big step away from being colonies and under the control of Great Britain, where we would have been required to put the monarch on our coins, and we would have had another country or another place, controlling not just the way our money looks, but also how much of it we can have and what denominations it's made in. So this is a big part of national independence. Controlling your own economy and deciding for yourself what you want to see on your money.
Ryan Perez
So this is like basically the country's version of being able to say, my room, my rules, my country, my money.
Yeah, but we're all friends here now. Why not just have everyone use the same currency? Like it would make traveling from one country to the other so much easier.
Ellen Feingold
This is such a great question. Because it's nice to imagine what that might look like.
Ryan Perez
I'm feeling a butt coming on.
Ellen Feingold
But we can explore together also what some of the challenges to that might be. Money is a way that countries say we're in charge of our own money. So if countries all gave up that power, they would lose some political and economic independence that comes along with having your own currency. So we all have to agree globally on what our money should look like. When would there be too many banknotes in circulation? Or what would we do if there wasn't enough?
Ryan Perez
I'm starting to think she doesn't think we're going to get a global currency.
Ellen Feingold
Creating a global currency would require a global consensus, a global agreement. And there are many things that we wish we had global agreement about. For example, some of the crises with the climate and other important global issues, but we haven't been able to come to agreement on those things. So it is hard to imagine a global agreement around currency.
Ryan Perez
Yeah, I don't think you could get all the countries to agree on how to spell currency. Well, thanks for spitballing that with us.
Yeah, we really appreciate your help. I think maybe we're going to go look around the rest of the museum now.
Ellen Feingold
And kids, welcome to the Smithsonian's tour of our permanent money exhibit, the Value of Money. We've got a special display out now about the history of money in Ukraine.
Ryan Perez
And, of course.
Hey, can we tag along on this tour?
Ellen Feingold
Wait, are we allowed?
Ryan Perez
We're not with this group.
This is an institution of learning, Bridget. Why would they deny us sweet knowledge?
Ellen Feingold
Hey, you two in the tricorner hats. I didn't see you two pay to.
Ryan Perez
Get into this special exhibit.
Ellen Feingold
Did you just sneak in with this field trip group?
Ryan Perez
Um, we're not people. We're museum exhibits come to life.
Ellen Feingold
What are you doing?
Ryan Perez
Just play along.
Ellen Feingold
Ooh, living exhibits, huh? Like night at the museum.
Ryan Perez
Yes, like night in the museum.
Ellen Feingold
I don't think your museum exhibits come.
Ryan Perez
To Life at all. I think you snuck into this exhibit.
Ellen Feingold
And are just pretending to be exhibits come to life.
Ryan Perez
No, we're not real people. We're British.
Ellen Feingold
British people are real people.
Ryan Perez
Oi. Let's run.
Yes. Let's escape and we'll be right back.
Cheerio, chappies. I can't stop rolling perfect skee balls. You know, some people are built for B ball and some are built for skeeball. And I'm built for skeeball.
Okay, so today, while on a trip in Washington, D.C. we're trying to answer Oliver's question. Why do different countries use different currencies? We were chased out of the Smithsonian Museum and have currently stopped for lunch at Bobo's Pizza, one of DC's favorite arcade eateries.
Hey, Bridget. Bridget, Bridget, Bridget, Bridget. I just won 200 Bobo's prize tickets. That's enough to buy a big stuffed doll of Bobo the Possum at the prize counter.
Hey, you know, when you think about it, those prize tickets are kind of currency too, don't you think?
Hmm. How do you mean?
Okay, well, you've been winning all these Bobo's prize tickets, which can be used for.
Oh, to buy things from the Bobo's Pizza prize counter. They've got everything. T shirts, frisbees, a personal sized light up disco ball.
Right, And Bobo's decides how many tickets you get when you win a game. They control how many tickets there are? Basically, yeah. And can you use those prize tickets anywhere else?
Sadly, no.
Right, so it's a kind of currency that can only be spent in this one pizza parlor. And Bobo's probably doesn't accept tickets from like, any rival pizza shops.
No, I tried that and they actually laughed in my face. Hmm. So it's kind of like Bobo's Pizza made their own little currency.
Yeah. And everyone here is happy to get those Bobo's tickets because they know they can use them at the Bobo's prize counter. They trust that Bobos will honor the tickets, that the prizes are going to be good ones. That's just kind of like money in the real world.
And anyone can make a currency of their own.
I think it's a pretty complicated process, actually. I mean, we were talking about this.
I think a light bulb just turned on in my. My head. I should make a currency of my own.
No, no, I am not saying that at all.
Too late. I've just hatched the perfect plan. We break into the US Mint and I add my own currency design to one of the presses. If I can make a real looking Currency. I can start my life anew in a sovereign state of my own. My pocket stuffed with Ryan bucks. I sketched out the design of my currency on this grease stained napkin. My dollar features me looking wisely into the middle distance with huge biceps that I'm working on getting high fiving Abraham Lincoln and Benjamin Franklin. And look, you're on the dollar too, Bridget. Cheering us on from atop that creepy pyramid with the eyeball that's on the regular dollar.
So wait, wait, go back. You want to sneak into the US Mint so you can smuggle a new currency in?
Yes. That's an excellent way to put it. Doesn't even sound like a crime when you put it that way.
Well, first of all, there are a few issues with your plan. A, they print paper money at the Bureau of Printing and Engraving, not the Mint.
Okay, whatever. We'll go to whichever one prints the money.
And B, you're definitely going to get caught.
It's worth the risk. I want to break free of this American currency I can never seem to earn enough of. It's time to take a big risk. And even though my plan may be bad, it can't be worse than crypto.
You might have a point.
So tonight, I'm sneaking in. What do you say? You want to help me?
Okay, if you try to do this by yourself, you are definitely going to get caught. So I better go with you.
Okay, we're here at the Bureau of Engraving and Printing. We've made it past security and onto the floor of the Big Money press where our reversed heist is about to go down.
Okay, why do I let you talk me into these things?
Now I'll just stop the presses and add my own design. Here, Bridget, you keep a lookout while I sneak my engraving onto the press. And it's all set. And they say there's no such thing as a license to print money. All I have to do is pull this lever and wait.
Alexander Hamilton
Don't do it.
Ryan Perez
Who are you?
Alexander Hamilton
I'm Alexander Hamilton, the first United States Secretary of the Treasury.
Ryan Perez
Alexander Hamilton? But didn't you die centuries ago?
Alexander Hamilton
I'm the ghost of Alexander Hamilton and I live here at the Bureau. But I can only come out at night.
Ryan Perez
Wow. This is like the night at the museum thing we were pretending to do, but for actual real real.
Wait, how do we know he's a real ghost?
Look, my hand goes right through him. It tickles out. I can't believe we're talking to Ghost Hamilton. One of our greatest American presidents.
Hamilton was never a president.
Oh, picky Picky.
What? Knowing how the presidents is how we won this trip.
Alexander Hamilton
I appreciate your hustle, young man, but you don't know the first thing about starting your own currency. Believe me, I was one of the people who helped create the American system of currency.
Ryan Perez
Well, then you're the perfect ghost to give me advice then.
Alexander Hamilton
You can't just make up a currency celebrating yourself for your own profit. You have to have a reason to do it. It has to do with a country wanting to be able to make its own decisions, control its own destiny. Because money is a type of power. You know what? I think this is a lesson best conveyed through a song.
Ryan Perez
You really mean that, ghost? Alexander Hamilton? Are you gonna rap for us?
Alexander Hamilton
Why do people keep asking me to rap? I don't even know what rap is. When I say song, I mean I'm gonna play a little poke, a ditty.
Ryan Perez
Oh, no.
Alexander Hamilton
When America was starting out, tried to shape its destiny, we didn't want to use the British pound, so we made our own currency. I wanted that currency centralized through a stable American bank called the first bank of the United States. And for that bank, you have me to think not everyone was a fan of my plan, including Thomas Jefferson. He thought the bank would be a monopoly. But eventually, my plan. Then in 1792, the Coinage act was passed, creating the US dollar. And the dollar caught on fast. With that dollar, we could pay our debts and establish our independence and create a sustainable economy for our eventual descendants.
Ryan Perez
Okay, well, this has been an informative polka, but we should get going.
Alexander Hamilton
But wait. I'm not done with the song.
Ryan Perez
Really? I could listen to polka music all day. But Bridget's right. We should scram.
Alexander Hamilton
Now, grab a wad of paper cash and tell me what you see on the single. You'll see Washington on the 10th spot. You'll see me. Wee. My polka song is almost done. I sang it just for you. With any luck, I'll sing it one day in a huge Broadway review. I can't wait to sing it one day in a huge Broadway review.
Ryan Perez
Woo.
Alexander Hamilton
So what do y' all think? Can't you just imagine that song being a huge Broadway hit?
Ryan Perez
Oh, yeah, Broadway's really tough.
You could take it around town, get more feedback. More feedback?
Maybe if you workshopped it some more.
Yes. You know, just get more, more. Get more eyes. More ears on.
More ears on. That would be really good.
Alexander Hamilton
Okay, cool. Cool. It's not final, by the way. I'm still toying with it.
Ryan Perez
Wow. So I guess it was kind of a big deal when America Said they wanted their own money and put so much work into creating it. Maybe it's more important than something I should manipulate for my own gain.
Freeze. Right there.
Alexander Hamilton
Don't move.
Ryan Perez
Oh, no. It's security.
Ah. Right when I was starting to learn my lesson, I was this close to walking away without getting caught.
Alexander Hamilton
You can still escape. Just make a run for it through that door to your left.
Ryan Perez
Wait, my left or Bridget's left?
Bridget's left. Who on earth are you talking to? The ghost of Alexander Hamilton. You mean you can't see him?
Alexander Hamilton
Only those truly curious about currency can see me.
Ryan Perez
Is that how ghosts work?
Alexander Hamilton
That's how Hamilton ghosts work. Just run.
Ryan Perez
This way.
Right behind you.
I think we made it.
Wait, I need to go back in. I left my currency design in there.
Ryan, we don't have time for that. Let's just keep running until they can't find us.
Okay, fine. We'll keep running and be right back after this.
Oliver
Hello, I'm Ellie from Novi, Michigan, and I've got a money joke for you. What has a hundred heads and a hundred tails? Give up. 100 pennies. If you have a money joke that you'd like to share, email millionbazillionarketplace.org thanks.
Ryan Perez
Well, here we are at our final stop on our trip to dc. The pool of reflection reflecting on our mistakes.
We've been banned from pretty much all of DC's historical buildings, but I do think we learned the answer to Oliver's question about why different countries have their own money.
So true. Countries want to have their own currencies because they want to be able to make decisions about their own economies. Having a currency that works really well for the people. There is one way that a country tells the world how awesome it is. It's probably harder to start your own currency than slipping a few of your pockets personally designed bills into the money supply. And that's probably a good thing for people to use a country's money. They have to trust it.
And don't forget, countries like to make their money look pretty and include pictures of things that are important to them. It's like a way to tell the rest of the world what you're all about and about your history without saying a single word or singing a single note.
And if you want to learn more about currencies and why they exist, you might want to check out the very first first episode of Million Bazillion, Season one, Episode one, where we got into all of that. If you have more questions about the many currencies of the world. Send them to us through our website, marketplace.org million.
Hey, speaking of currency, look what I got in my pocket. Two Bobo's game tokens.
Oh, I've got an idea. Want to make a wish and then throw them into the Pool of reflection?
Good idea. I wish.
Wait, you're not supposed to say your wish out loud.
Oh, that's right. Hey, you ever think what the pool of Reflection would say if it could talk?
Washington Monument
You're not supposed to throw coins and maybe.
Ryan Perez
Whoops, sorry. I'll take the tokens out. One second. I'm just gonna reach in here and.
Ellen Feingold
Watch your footing, Ryan.
Ryan Perez
Okay, I think I'm done with D.C. for a while.
Oh.
Thanks for listening to this episode of Million Bazillion. If you want to know more about different currencies, check out the tip sheet for this episode at our website, marketplace.org.
You can also sign up for our newsletter while you're there and get next week's episode delivered straight to your email inbox. We're going to answer a bunch of the questions that listeners sent us. I am so excited for it.
Million Bazillion is brought to you by Marketplace from American Public Media. This episode was written and hosted by me, Ryan Perez. Bridget Bodnar is the senior producer and co host.
And thank you to the voicing talent of kids, Kimberly Adams, Sabri Benishore, Emily McCune, Mel Rosenberg, and Julian Stern.
Special thanks to Ellen Feingold at the Smithsonian for her help answering Oliver's question.
Million Bazillion's producer is Marisa Cabrera. Jasmine Romero is our editor. Chris Julen is our sound designer. Becca Weinman mixed this episode and our theme music was created by Wonderly.
Bridget Bodnar is the Director of Podcasts at Marketplace. Francesca Levy is the Executive Director of Digital. Neil Scarborough is the VP and General Manager.
Million Bazillion is funded in part by the Tsai Sims foundation, partnering with organizations and people working for a better and more just future since 1985. And special thanks to the Ranzetta Family charitable fund and NextGen personal finance for providing the startup funding for this podcast and continuing to support Marketplace in our work to make younger audiences smarter about the economy.
If Million Bazillion is helping your family have important conversations about money, consider making a one time donation today at marketplace.org givemillion and thanks for your support.
Story Pirates Podcast: Special Episode from Million Bazillion Release Date: August 11, 2025
In this special episode of the Story Pirates Podcast, the talented team collaborates with the acclaimed Million Bazillion podcast to delve into the intriguing world of currencies. Hosted by Ryan Perez and Bridget Bodnar, the episode takes listeners on an engaging journey through Washington, D.C., exploring the reasons behind the diversity of global currencies.
The adventure begins with Ryan and Bridget arriving in the heart of the nation's capital, where their mission is to answer a pressing question from a young listener named Oliver:
Ryan Perez [00:43]: "Why do different countries use different money?"
As they navigate iconic landmarks like the Lincoln Memorial and the Washington Monument, the hosts introduce humor and curiosity, setting the stage for a deeper exploration of monetary systems.
Seeking authoritative insights, Ryan and Bridget visit the Smithsonian’s National Numismatic Collection to speak with Ellen Feingold, the curator.
Ellen Feingold [06:32]: "Each country has the opportunity on their banknotes and their coins to tell their own story."
Ellen elaborates on how currencies reflect national identity and history. Using the Guatemalan quetzal as an example, she explains:
Ellen Feingold [07:08]: "The bird is called a resplendent quetzal, and the currency is actually called the quetzal after that bird. The reason for this is because historically, that bird's tail feathers were used as currency among indigenous communities there."
She further emphasizes the role of currency in asserting national sovereignty:
Ellen Feingold [07:53]: "Having the power to issue your own currency is a really important part of being a nation. It says, we are in control of ourselves and we have our own money."
Ellen also discusses the impracticalities and challenges of adopting a global currency, highlighting the complexities of achieving global consensus.
As Ryan and Bridget continue their exploration, they unexpectedly encounter the ghost of Alexander Hamilton at the Bureau of Engraving and Printing. This supernatural twist brings history to life, providing a memorable lesson on the importance of currency in national development.
Alexander Hamilton [16:46]: "You can't just make up a currency celebrating yourself for your own profit. You have to have a reason to do it. It has to do with a country wanting to be able to make its own decisions, control its own destiny."
Hamilton elaborates through a catchy ditty the foundational role of the U.S. dollar in establishing economic independence and stability.
Alexander Hamilton [17:21]: "When America was starting out, tried to shape its destiny, we didn't want to use the British pound, so we made our own currency."
This encounter reinforces the episode's central theme: the intricate relationship between money and national identity.
Post their Smithsonian escapade, Ryan and Bridget take a break at Bobo's Pizza, where Ryan draws a parallel between the arcade’s prize tickets and national currencies.
Ryan Perez [12:35]: "Yeah. And everyone here is happy to get those Bobo's tickets because they know they can use them at the Bobo's prize counter. They trust that Bobo's will honor the tickets, that the prizes are going to be good ones. That's just kind of like money in the real world."
This analogy illustrates how trust and acceptance are fundamental to any currency's effectiveness, whether it's global money or arcade tokens.
Wrapping up their adventure, Ryan and Bridget synthesize their findings, affirming that the primary reasons for diverse currencies are national sovereignty, economic control, and cultural representation.
Ryan Perez [21:24]: "Countries want to have their own currencies because they want to be able to make decisions about their own economies... It's like a way to tell the rest of the world what you're all about and about your history without saying a single word or singing a single note."
They acknowledge the complexity of creating and maintaining trust in a currency, highlighting why adopting a universal currency remains a challenging prospect.
National Identity: Currencies serve as cultural and historical symbols, reflecting each nation's unique story and heritage.
Sovereignty and Economic Control: Issuing their own currency allows countries to manage their economies independently, free from external influences.
Trust and Acceptance: The effectiveness of any currency hinges on the collective trust and willingness of a community to accept and use it.
Challenges of a Global Currency: While a universal currency could simplify international transactions, achieving the necessary global consensus poses significant obstacles.
Ellen Feingold:
"Each country has the opportunity on their banknotes and their coins to tell their own story."
[06:32]
Alexander Hamilton:
"You can't just make up a currency celebrating yourself for your own profit. You have to have a reason to do it."
[16:46]
Ryan Perez:
"Countries want to have their own currencies because they want to be able to make decisions about their own economies."
[21:24]
This special collaboration between Story Pirates and Million Bazillion creatively unpacks the multifaceted reasons behind the world's varied currencies. Through engaging storytelling, expert interviews, and imaginative adventures, listeners gain a comprehensive understanding of why money is more than just a medium of exchange—it's a powerful symbol of national identity and autonomy.
For those eager to learn more about currencies and their global significance, Million Bazillion encourages visitors to explore further through their website and upcoming episodes.
This detailed summary captures the essence of the Special Episode from Million Bazillion, highlighting key discussions, insightful quotes, and the engaging narrative that makes this collaboration a standout listen.