When a $10 Trillion bank note is worth more on ebay than face value.

Discussion in 'Off-Topic' started by GopherT, Sep 13, 2016.

  1. GopherT

    Thread Starter AAC Fanatic!

    Nov 23, 2012
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    Sorry folks, not enough room in the title to specify it was in Zimbabwe dollars.

    The 10Trillion dollar note is worth about 0.40 US dollars. They can be purchased on ebay for more than $5 each as a novelty item/collectable.

    upload_2016-9-13_12-7-52.png

    Recent hyper inflation (5000% on zimbabwe dollar basis on local goods/services) has been halted by simply abandoning a local currency and using the currency of multiple countries/regions instead.

    I'm surprised the value of these bills has not skyrocketed because of extensive use in folk medicine - a method to cause hyper inflation.
     
  2. boatsman

    Senior Member

    Jan 17, 2008
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    If Stanley Fischer had stayed in Zimbabwe this probably wouldn't have happened.
     
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  3. JoeJester

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    No wonder we get so many emails offering us money.
     
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  4. jgessling

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    Jul 31, 2009
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    You are way behind the story. When I crossed the Zambezi river about 8 years ago a pack of trillion notes of several denominations was available for about USD10. Didn't actually go into Zimbabwe, we were crossing from Zambia to Botswana coming from Victoria Falls with Zimbabwe on the other side of the triangle. I got a hundred trillion for a friend who collects banknotes. That river crossing was not dangerous in the small speedboat we were in but the half sunken barges and other boats along the shore certainly gave pause.
     
  5. JoeJester

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    Did you claim that hundred trillion when you came back through customs? That was a large sum of cash. :) Worthless, but still a big number.
     
  6. #12

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    About as valuable as the number of skin cells that were rubbed off the last time he took a shower.:D
     
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  7. JoeJester

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    @#12 I would have declared it to see the look on the custom agent's face; especially after I pulled it out of my pocket. :)
     
  8. jgessling

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    Jul 31, 2009
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    Never thought to declare it. But then I'm not good that way. Didn't declare the package of biltong ( meat jerky ) that I was given on the Air Botswana fight either. Told the guy in Atlanta nothing to declare and later noticed that package right on top in my suitcase. Whoops.
     
  9. #12

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    You want to see a look? Try getting on an airplane while being in possession of Bitcoin.
    It doesn't even have to be an international flight,
    like traveling from New Hampshire to San Francisco...
    Show me the Bitcoin!
    http://www.businessinsider.com/bitcoin-tsa-screening-2014-2
     
  10. Hypatia's Protege

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    ...And here we have yet another sterling example (pun intended;)) as regards the inadvisability peril of entrusting wealth to 'fiat-backed' economies...

    Best regards
    HP
     
  11. #12

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    Are you talking about the U.S. dollar?
    http://www.investopedia.com/terms/f/fiatmoney.asp

    "Because fiat money is not linked to physical reserves, it risks becoming worthless due to hyperinflation. If people lose faith in a nation's paper currency, like the U.S. dollar bill, the money will no longer hold any value.
     
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  12. Hypatia's Protege

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    --Emphasis added--

    Indeed I am!:eek: -- And, come to that, all manner of financial 'instruments' wherein 'artificial value' exceeds intrinsic value! -- 'Funny' thing about economies - 'No standard' means no standards! -- Sad, sad days!:rolleyes:

    Best regards
    HP
     
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  13. nsaspook

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    Aug 27, 2009
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    It also risks becoming worthless because of a rogue comet hitting the earth. In any conceivable worst-case scenario where the dollar is worthless the value of the dollar will be the least of your worries.
     
  14. #12

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    Thanks. That eases my stress greatly.:D
     
  15. Hypatia's Protege

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    Yebbut - the value/stability of fiat currency has been on the decline all my life -- And without assistance from natural disasters...:(

    The value of fiat currency would indeed be irrelevant -- howbeit 'Barter power' would likely be key to survival in a post-disaster scenario -- Of course one's first procurement must needs be 'security forces'/hardware:cool:

    Best regards
    HP:)
     
  16. JoeJester

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  17. Hypatia's Protege

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    In the event anyone is losing sleep over said possibility -- here ya go! -- Have fun! We could start a drive? Let's call it 'Bullion before boulders';)

    TTFN
    HP:D
     
    Last edited: Sep 14, 2016
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  18. JoeJester

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    I wouldn't declare I wasn't too hungry either.
     
  19. Hypatia's Protege

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    Very true! -- At the same time the author brought it on himself via his 'cheek'! -- IMO that sort of harassment is much more disturbing when conducted against travelers providing their own means of transport -- Those who insist upon 'The Communal Lifestyle' (CIP public transportation) must be willing to play by 'their' rules!

    Best regards
    HP
     
  20. #12

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