Not Worth a Penny
Copied from Dr. Klaus L.E. Kaiser by 
@ottobattista
Europe Europe

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Not Worth a Penny

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Copied from Dr. Klaus L.E. Kaiser by 
@ottobattista
| Europe Europe

Specifically, I’m talking about official “Bank of Somewhere” notes, redeemable for whatever, and so forth. The world of highfalutin financial systems seems to have found new high and low points.

Just a few years ago, the government of the sovereign state of Zimbabwe thought it could create money out of nothing. What difference does it make to simply add a few zeros here or there, as long as it’s “FREE?”

Wouldn’t you like to be a TRILLIONAIRE, owning a few of those pretty picture bank notes printed on real paper? Like the one from the Reserve Bank of Zimbabwe, that minted plenty of 100 TRILLION (Zimbabwe) DOLLAR notes, a reverse side picture of one is nearby.

European Central Bank has found another way to create money out of nothing, namely by printing bank notes of ZERO VALUE

However, the European Central Bank has found another way to create money out of nothing, namely by printing bank notes of ZERO VALUE. In case you think that’s crazy, think again. These things actually do exist, with all the security and anti-counterfeit features common to other denominations of that currency unit. One example (of several dozen designs) is also shown nearby.

Z$100 Trillion, or €0—what’s the difference?

Good question!

The answer is: Except for some collectors’ value in the eye of the beholder, absolutely nothing. You can get any of those, in quantities, at any place dealing with such curiosities. However, you cannot go shopping with either one. They are akin to the pretty postage stamps issued by many countries in recent decades, sold to collectors around the world for real, hard-earned money. Simply put:

They are pretty to look at but “not worth a penny”.

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