Divining the News (DTN)

Not Mainstream News

The fate of Paper Money

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Extracts from an article detailing the history and status of paper currencies, with easy to read tables. Suggesting its fallability although not moralising.

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The median age for a live currency is 37 years and at least one, the Zimbabwe dollar, is in the throes of hyperinflation.

Excluding the early paper currencies of China up until the 15th century and the majority of paper currencies that existed in China until 1935, there are 609 currencies no longer in circulation. Of these, at least 153 were destroyed as a result of hyperinflation caused by over-issuance. The remainder were revalued, destroyed by military occupation/liberation, renamed for political reasons, or were converted to another currency. The median age for these currencies is only seventeen years.

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HatTip: whatreallyhappened.com

Written by morris

March 17, 2009 at 11:11 am

Posted in fiat money

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