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|#9 - Of course, thanks to inflation, 10-20 million dollars at aucti… [+] (11 new replies)||01/27/2014 on soda cup lid||+46|
#18 - zeroqp (01/28/2014) [-]
If I had one of those Zimbabwe bills today, and the value of their currency suddenly rose to 1:1 to US Dollars, would that mean that I'm filthy rich all of a sudden?
If it's that simple, shouldn't we all have one of those bills to hold on to, just in case? I mean, their currency isn't going to be 1:1 to US dollars anytime soon, but if the value went up by just 100x or so, we'd still have raised the value of our money conciderably, concidering the bill is 100 000 000 000 000. What I mean is that the more of the currency you have, the easier you'll see the difference in value as it rises.
#27 - anonymous (01/28/2014) [-]
Its not illegal. George Soros, at the time manager of the quantum fund did something similar in 1992. He took 10 billion British pounds and traded them for German dmark. On the 16.9.1992 great Britain had to leave the ESM because the effect this had on the value of the british pound. The British government could not guarantee the fixed fluctuation of 6% they guaranteed by joining the ESM. Soros made just about £1 billion. He even wrote a book about it. No law broken. No persecution.
#24 - completeaddiction (01/28/2014) [-]
It kinda is and isn't. You have to get government permission, i.e. you can't ask a rich friend of yours to "trade money". Doing an act like this is called money laundering, which is a highly punishable crime. When converting currencies, there is usually a large fee associated with this, to make currency investments not worth while.
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