The European Central Bank has found another way to create money out of nothing.
Not worth a Penny
By Dr. Klaus L.E. Kaiser
Specifically, I’m talking about official “Bank of Somewhere” notes, redeemable for whatever, and so forth. The world of highfalutin financial systems seems to have found new high and low points.
Just a few years ago, the government of the sovereign state of Zimbabwe thought it could create money out of nothing. What difference does it make to simply add a few zeros here or there, as long as it’s “FREE?”
Wouldn’t you like to be a TRILLIONAIRE, owning a few of those pretty picture bank notes printed on real paper? Like the one from the Reserve Bank of Zimbabwe, that minted plenty of 100 TRILLION (Zimbabwe) DOLLAR notes, a reverse side picture of one is nearby.
European Central Bank has found another way to create money out of nothing
However, the European Central Bank has found another way to create money out of nothing, namely by printing bank notes of ZERO VALUE. In case you think that’s crazy, think again. These things actually do exist, with all the security and anti-counterfeit features common to other denominations of that currency unit. One example (of several dozen designs) is also shown nearby.
Z$100 Trillion, or €0 — what’s the difference?
The answer is: Except for some collectors’ value in the eye of the beholder, absolutely nothing. You can get any of those, in quantities, at any place dealing with such curiosities. However, you cannot go shopping with either one. They are akin to the pretty postage stamps issued by many countries in recent decades, sold to collectors around the world for real, hard-earned money. Simply put:
They are pretty to look at but “not worth a penny”.
Dr. Klaus L.E. Kaiser is a professional scientist with a Ph.D. in chemistry from the Technical University, Munich, Germany. He has worked as a research scientist and project chief at Environment Canada‘s Canada Centre for Inland Waters for over 30 years and is currently Director of Research at TerraBase Inc. He is author of nearly 300 publications in scientific journals, government and agency reports, books, computer programs, trade magazines, and newspaper articles.
Dr. Kaiser has been president of the International Association for Great Lakes Research, a peer reviewer of numerous scientific papers for several journals, Editor-in-Chief of the Water Quality Research Journal of Canada for nearly a decade, and an adjunct professor. He has contributed to a variety of scientific projects and reports and has made many presentations at national and international conferences.
Dr. Kaiser is author of CONVENIENT MYTHS, the green revolution – perceptions, politics, and facts
Dr. Kaiser can be reached at: firstname.lastname@example.org