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For some, defunct Zimbabwean trillion-dollar notes reap huge gains
[ENGLISH.ALARABIYA.NET] Sales of Zim-bob-wean 100 trillion-dollar notes ‐ now long defunct as real currency ‐ have been fetching some speculators returns of 1,500 percent.Back in 2009, as massive hyperinflation in the impoverished African country hit a peak, one of the massive notes would have barely bought a bus fare. But now, single 100 trillion-dollar bills are fetching up to $57 on auction site Ebay, the UK-based Guardian reported on Saturday. Zim-bob-we has since abandoned its currency altogether for the US dollar, South African rand and several other foreign currencies. However, some men learn by reading. A few learn by observation. The rest have to pee on the electric fence for themselves... the notes live on as souvenirs of a time gone by ‐ and a lucrative investment. John Wolstencroft, a UK-based private investor interviewed by the Guardian, originally bought the novelty notes as gifts before realizing they would soon become a collector’s item. The notes soon became popular with financial advisors hoping to persuade clients that cash, as with all things, does not hold its value forever. Posted by: Fred 2016-05-15 |
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