In Germaney after WW1, inflation was so bad that they were handing out bushels of money to pay for a loaf of bread. The american dollar was worth a heck of a lot of german currency. If I had traded my money for the german money, would I have been able to keep it and have millions of dollars?
2007-03-26 02:11:42 · 1 answers · asked by teh_frigrator 2 in Business & Finance ➔ Other - Business & Finance
In a word: No.
Germany remonetized in 1924 and again in 1948. Both times, all earlier banknotes became worthless after a short changeover period. As it happens, I have several old German banknotes from this era in my collection with face values of billions of marks.
Zimbabwe just did the same thing in August 2006. On August 1, they issued a new currency and gave the populace 21 days to convert all old banknotes for new issues, after which the old notes became worthless.
2007-03-27 13:25:45 · answer #1 · answered by F. Frederick Skitty 7 · 1⤊ 0⤋