Brrrrrrrrrr Money !

So there's an item I omitted from yesterday's unboxing, and as I mentioned in that post, in a way it's the exact opposite of silver.

Remember, one of the reasons most people stack precious metals is to protect themselves against inflation.

And today's piece is exactly that. Inflation money 🤭😂

received_876859057087567.jpegreceived_3236415293280922.jpeg

A one hundred billion dracmai Greek bank note, printed in November 1944.

To my knowledge, this is the largest (in regards to denomination) bank note ever printed by the bank of Greece, as a result of the hyper inflation that was running rampant back then. Which in turn was the result of our Nazi occupants making printers go brrrrrrrrrrrr in an effort to get free money for their war machines.

From 1941 to 1944, Greece endured the devastating effects of World War II, including military invasion, occupation, and fierce fighting with Greek Resistance groups, which all caused unprecedented damage to the country's already-underdeveloped infrastructure and economy. Forced loans demanded by the occupying regime severely devalued the Greek drachma, while the end of the war gave way to a bitter civil war that lasted until 1949. By 1950, the relative position of the Greek economy had dramatically deteriorated: the income per capita in purchasing power terms fell from 62% of France's in 1938 to about 40% in 1949, less than a decade later. source

According to some sources I read, this bank note fresh out of the printer had about the same buying power 10 euro cents would have today, lmao. 🤭😂

Funnily, it was quickly withdrawn from circulation when an economic reform began in an effort to restart the economy.

Oh well, a sweet memento of Greek history to hold. And to be fair, it's a beautiful small bank note featuring lots of Greek history.

Feels like history is about to repeat itself, ain't it?

Posted Using LeoFinance Beta



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40 comments
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You received an upvote of 96% from Precious the Silver Mermaid!

Thank you for contributing more great content to the #SilverGoldStackers tag.
You have created a Precious Gem!

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That's a lot of money. 10 cents then most probably could get some decent grocery !

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It is crazy what inflation can cause, like in Zimbabwe when you use too heavily the printing press.

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Bang, I did it again... I just rehived your post!
Week 130 of my contest just started...you can now check the winners of the previous week!
!BEER
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Thank you for this historic story about the Greek note, haven't heard it before. But I know right now.

Thank you for sharing the knowledge, continue to spread love and be happy always.

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This is like finding the legendary 100 trillion (14 zeroes) dollar Zimbawean dollar bank note.

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I supposed that shiba inu coin has the biggest coin circulation! Zimbabwe surprise me!

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Well it feels as if every fiat note is susceptible to inflation. How funny that this was quickly withdrawn from circulation.

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I had the privilege to be alive during hyperinflation in a different country but the story is the same. Monthly paychecks got you a loaf of bread and a few more essentials.

I really do hope history doesn't repeat itself. But if it does you are well prepared for sure.

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Hahahaha, that makes me wonder if that makes drachmae the first shitcoin ever 🤔Anyway enjoy your billions trumpman 😂😂
!LOLZ

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Central bank: how many zero should our banknotes have ? How about all of them ? :P

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Wow it is nice seeing such note.

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The bill itself is elegant, it is incredible the economic destruction caused by inflation, as I mentioned before I am Venezuelan and currently the country is being eaten by inflation, we are already for almost eight years in this process, my grandmother was telling me a few days ago via telephone, that she was already paid her Christmas bonus, in Venezuela the Christmas bonus is a bonus given around December, my grandmother is currently a pensioner, due to her long years of work and her contributions, but the point is that this payment is only almost 13 dollars, we are talking about waiting a whole year to receive your annual settlement for something that you paid all your life, but the point is that this payment is only almost 13 dollars, we are talking about waiting a whole year to receive your annual liquidation for something that you paid all your life and that it is only 13 dollars at the exchange rate of the Venezuelan currency, it is incredible that with this liquidation you can only buy 1 kilo of cheese at $3.20, a corn flour at $1.40, a butter at $3.76 and a kilo of coffee at $3. 76 and a kilo of coffee at $5.86, there is no purchasing power, and let's not talk about buying a household appliance because we would be talking about hundreds of dollars.

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Soon we have a million EURO each, which is why i quickly bought a (holiday) house in Spain!

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lol this one looks like monopoly money, lmao

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That's a fancy piece of toliet paper you got there.. hard to imagine a bank note with such a big number being so useless.. even my 2M BTCMYK tokens are worth more than that. However on a history note that's a pretty cool piece of paper..

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Me when I saw the note

100 billion 🤩
Let's go get ourselves a yacht 😗

After I fully read the post

Maybe a small piece of cardboard 😔

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Λίγο ακόμα και φτάνεις τον Ελον...

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Uhuuu, something new as you moved from coins to banknotes. The history of money is pretty amazing and as we transition to crypto, probably that's more important than ever because it will softly disappear in its physical form.

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Not getting into bank notes, that was a one time fun thing😂

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I stick to them metals but these hyper inflation notes are pretty cool perhaps one would be good to add to the collection for contrast

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Yeah, I got one for the fun of it 😂

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There are a lot of obsolete banknotes that are very much collectable just for the art work, culture, theme and of course the history.
Hey @punkysdad , show some of your pretty fiat.

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Heh, dunno how rare it is, I paid 4 euros.

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History is history. Who knows if someone want will that piece of history for a higher price in the future. After all, it's not being printed anymore.

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