Quantcast
Listverse listverse.com 15 Jan, 2022 12:00 am

Ten Currencies That Went Belly-Up

Ten Currencies That Went Belly-Up
Ah, good ol' money. It'll always be there, right? So long as we have enough of it, we can purchase goods, services, security...well, you get the idea.

By late 1990, inflation had reached 400% per month, and a 10,000,000 inti banknote was created to meet hyperinflated prices.To understand the enormity of that figure, here’s what it looks like: 500,000,000,000,000,000,000.Like the greenback, the Confederate dollar was speculative, albeit with longer odds.In October 1863, Confederate Senator Louis Wigfall of Texas complained that a soldier’s monthly pay of $11 was, by that time, worth the same as one Confederate dollar at the war’s inception.

Eventually, even that diminished purchasing power was extinguished, as many merchants stopped accepting the Confederate dollar at all, foreseeing the fledgling nation’s defeat.By the end of 1864, the Confederate dollar’s worth had decreased so markedly that a turkey sold for $155, while a ham went for $300.

Read full story at listverse.com