Are there hidden devil's signs in the euro banknotes and what symbols are woven into the single currency - this question has become relevant again with the adoption of the euro in Bulgaria. Days after we became the 21st member of the eurozone - what is the future of the digital euro and what is happening with the country's gold reserve - the answers to the biggest myths before the euro, Violeta Rusenova collected in "After the News" on BNT.
Are there hidden devil's signs in the euro banknotes - this conspiracy theory has gained momentum again with the adoption of the euro in Bulgaria. Publications on social networks show an image of a devil in the banknotes, folded in a certain way and touching each other, or placed next to a mirror. On the 50 euro note, the image is with horns, and on the other denominations - without. Our check showed that for the first time a video with this content appeared 3 years ago on TikTok, in profiles of foreign users.
- Friends, do not accept the euro. Look what I just learned. 50 euros. The devil.
Satan is peeking out of the euro banknotes - these conspiratorial claims have also been heard by the lecturer at the National Academy of Arts Krasimir Andreev. Together with him, we are checking what is actually visible on the banknotes.
Krassimir Andreev, lecturer at the National Academy of Arts: "The banknote is multilayered in terms of the way it is made and the printing technologies. There are 4 or 5 printing technologies that are applied to each side of the banknote. In addition, the paper itself has protections inside, which are usually signs that are watermarks and we can see them in the light. The superposition of all these layers on top of each other can give some opportunity to read this thing in a different way through your imagination.
BNT: And you, if you put more imagination into it, can you see secret or devilish signs?
- I doubt it.
He teaches font and calligraphy. And as a specialist in signs in banknotes, he sees only protections.
Krassimir Andreev, lecturer at the National Academy of Sciences: "Look, here is a metal thread, here are hologram stickers. Infinitely multilayered things that are stacked on top of each other. For all banknotes in the world there are so-called protections, which are to some extent known and are even described in the specimens of central banks. From there, there are some hidden things that no one knows about except for a few people, initiated by central banks, or very few people. For security reasons. In the United States, the Secret Service was once organized as a state structure precisely to protect the dollar. And that was back in the 19th century."
Andreev gives all his graphic design students the task of making banknotes, and the first step is to familiarize themselves with the ones that exist now. Including the two series of euro banknotes issued so far - the first, which has no name and is from 2002, and the second - the "Europe" series, which began printing in 2013. In addition to some visual differences, the second series is also much more secure. The European Central Bank summarizes what is on the older and newer banknotes - windows and doors on the front side, which symbolize the European spirit of openness and cooperation. The bridges on the back side symbolize communication between European peoples and between Europe and the rest of the world. The ECB denies that there are any satanic symbols. With an expert, we examine in detail the 50-euro banknote from both series, which is so discussed in conspiracies.
BNT: What are these devilish signs?
Kirilka Epitropova, expert: "Although they look different, these are two 50-euro banknotes, both of which are in circulation, they are from different issues. The upper one is newer, has a few more security features, and the inscription "euro". It is a little more colorful, the relief is a little nicer, the hologram is larger.
There are three steps to recognize real banknotes - the method known as touch, look and tilt.
Kirilka Epitropova, expert: "What counterfeiters still can't do like humans is the watermark. On counterfeit banknotes, this thing is painted and there is no way for the light to pass through. There is a relief, so the first thing you need to do is feel it well with your fingers. The second thing you can do is hold the banknote up to the light or something darker for the background. I very often use the calculator in practice, which is black. I put the banknote in and if the watermark is real - it shows through."
She called on people to be careful and check what banknotes they are given, as well as to be especially observant in cash transactions. And she called for more vigilance for the 500 euro banknote, which has not been printed since 2019, but remains a valid means of payment.
Kirilka Epitropova, expert: "If someone comes to you and says - I have 500 euros, can you spoil it? Please, check the banknote a little more than you would usually pay attention to. The iridescent sign on the 500 euro hologram is very clearly visible."
According to data from the European Central Bank, the most counterfeited banknotes are the 20 and 50 euro banknotes. Experts have also detected something else in their practice.
Kirilka Epitropova, expert: "Counterfeiters actually have two approaches - one is with the larger banknotes - 500 and 200. They are less common in everyday life and people have difficulty recognizing them. The other is in a more mass transaction, in which there are many 50 and 20 banknotes, and some of them are fake and hidden in the real ones."
Will we be monitored with the digital euro and will we have a limit on how much money we can use? This is one of the most common concerns related to the digital euro, a project of the ECB since 2021. According to it, the digital currency will be issued by the European Central Bank and central banks and will function just like cash, but in an electronic wallet and will be secured with a separate account, which will be managed by the consumer's respective commercial bank. A limit of up to 3,000 euros in electronic form is also being discussed. In online payments with the digital euro, the respective bank will only have access to the personal data necessary to make the payment and to prevent fraud. Preparations for its introduction began on November 1, 2023, and there is no clear deadline for when it will be introduced.
Stoyan Panchev, economist at EKIP: "The digital euro is an attempt by the European Union and the eurozone to compete with the big players. China and the United States are carrying out serious reforms in their monetary systems. The United States is relying more and more on the so-called stablecoins, which can very easily enter the European economy and even displace the euro. The future is not particularly certain for the digital euro because of the great resistance, perhaps surprisingly, coming from within Europe. The big banks in Europe supported a big campaign against the introduction of the digital euro, because in fact the digital euro would take away some of their functions in the market and at the moment, it turns out, the biggest opponents of the digital euro are the big banks."
Bulgaria's 40 tons of gold will be taken and the country will lose its gold reserve - this is also among the popular untruths spread throughout the year.
Max Baklayan, financial analyst: "At the moment Bulgaria has 43 tons of gold, a large part of it is in London, in the Comex custody exchanges, where it is used as collateral for paper contracts and Bulgaria, in practice, earns from its gold by giving it as a guarantor for paper contracts, and there are several tons that have been sent to the ECB as a contribution.
In fact, the country's contribution to the ECB amounts to of about a percent of its total capital, with 85% of this contribution being in foreign currency, 15% in gold. And how much each country pays depends on the size of its population and economy.
Max Baklayan, financial analyst: "It is very important to say that this is not a payment to the ECB, this is our gold, which is in the ECB as a guarantee. The gold reserve will remain with the state, despite this contribution that we have made to the ECB - it continues to be with the BNB. It is simply located in a different place. The gold on the Comex markets will remain there and Bulgaria will continue to profit from this collateral that it guarantees."
The principle when a new country joins the eurozone in the last ten years has been similar - in the first month both currencies are in circulation, there is a period in which banks and post offices will exchange for free - in our country this is six months. After that, the BNB remains the only institution that will exchange levs without fees. And so, after 145 years of history, the lev goes to History. And from there, no one can replace it, believes Krasimir Andreev and shares the opinion of the author of the design of the latest Bulgarian banknotes, Prof. Kiril Gogov.
BNT: Does it make you nostalgic that these beautiful banknotes will not be used?
Krassimir Andreev, lecturer at the National Academy of Arts: "The author himself said that he is not so worried about the fact that they will not be used, but they are in history anyway. Either way, they will be an object of collector's interest from here to there."