Why wouldn't this money-making scheme work?

You buy a shedload of these
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and then sit back and wait for the Zimbabwe economy to come right (it HAS to happen at some point, surely?)
Reply to
amanda.fennel
Even if the economy did eventually recover, the currency would probably have fallen even further in value between now and then. Even then, the currency might not appreciate in value much, so your trillion Dollar banknote would most likely never be worth more than it is today.
If you do have that much confidence in the country and want to buy a significant amount of their currency then you'd be better off finding ways of holding it in a bank account. Buying individual notes off eBay like this must be about the most inefficient way of doing it you could find.
Chris
Reply to
Chris Blunt
In message , Chris Blunt writes
It must require great strength of character to steel oneself to try to profit from the disaster of other people's lives.
Why not just take out life insurance on Ethiopian children?
Reply to
Gordon H

It must require great strength of character to steel oneself to try to profit from the disaster of other people's lives.
Why not just take out life insurance on Ethiopian children?
Reply to
Amanda Fennel

Might as well order a shedload of 2p and 1p coins from the bank. Use a magnet to separate the copper plated steel ones manufactured post 1992 and recirculate them.
The remainder of the coins will be 97% copper. Copper's currently at 5.97 per kilo.
A 2p coin weighs 7.12g, and a 1p coin half this. In each kilo there will be 140 2p coins and one 1p coin, face value 2.81. Scrap value 5.79 if you go for the copper alone and not the 3% of zinc and tin that will be left from each coin.
Reply to
Jake
Better to put a grand in a Zimbabwe savings account. The interest rate over there is so high that you will be a millionaire after 2 years.
Reply to
Deux

In the 1970s there was very little loose change in Italy I remember - in shops you'd be given a few sweets instead. it was said to be because the coins were worth more as scrap metal than their face value.
Robert
Reply to
RobertL


In the 1970s there was very little loose change in Italy I remember - in shops you'd be given a few sweets instead. it was said to be because the coins were worth more as scrap metal than their face value.
Robert
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I think it was mainly because there were something approaching 2,500 lira to the pound. Thankfully, despite the advent of the euro, quite a few places still have little bowls of sweets at the tills :-)
Reply to
Martin


I think it's just because the Italians were crap at managing the supply.
Even the 200 coins (p) were in short supply and people wouldn't routinely throw away 10p in 1980 (when I was there).
You'd get telephone tokens (200 lira) and bus tickets (500 lira) for change (and as acceptable payment)
tim
Reply to
tim....

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