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<p>[QUOTE="Pocket Change, post: 776791, member: 8012"]Christian,</p><p><br /></p><p>Thanks for that clarification. I guess I was fleshing out the question based on the local economy. You site Germany - I'm siting very poor countries of the BCEAO like Burkina Faso, Togo, Niger, etc. Basically different worlds.</p><p><br /></p><p>In my many years in the CFA countries, a 10,000 CFA banknote was joked to as a "Certificate of Deposit" because if you presented that bill to a vegetable seller, a small liqour store, a small african 7-11 type of place, they would basically refuse service because they could not make change for it. 10,000 CFA was a serious amount of money. </p><p><br /></p><p>In fact, there were people who went around exchanging "big" value CFA bills for smaller bills. It would cost you anywhere from 2-5%. That was the reality.</p><p><br /></p><p>So back to the point - in the countries where "old" money was made wortheless - the poor people of the country could not afford to keep it. </p><p><br /></p><p>Christian, you refernce 45% of German coinage not having been returned. </p><p><br /></p><p>My point is that in Africa, where people can't "afford" to hold on to useless money, the percentage of Africans holding on to "worthless" currency and coins has got to be way, way lower than Germany. I was there. People have to do silly things like EAT.</p><p><br /></p><p>Sorry if I come off wrong - I just don't think we can compare Europe with Sub-Saharian Africa on this issue. <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" /></p><p><br /></p><p>Thanks[/QUOTE]</p><p><br /></p>
[QUOTE="Pocket Change, post: 776791, member: 8012"]Christian, Thanks for that clarification. I guess I was fleshing out the question based on the local economy. You site Germany - I'm siting very poor countries of the BCEAO like Burkina Faso, Togo, Niger, etc. Basically different worlds. In my many years in the CFA countries, a 10,000 CFA banknote was joked to as a "Certificate of Deposit" because if you presented that bill to a vegetable seller, a small liqour store, a small african 7-11 type of place, they would basically refuse service because they could not make change for it. 10,000 CFA was a serious amount of money. In fact, there were people who went around exchanging "big" value CFA bills for smaller bills. It would cost you anywhere from 2-5%. That was the reality. So back to the point - in the countries where "old" money was made wortheless - the poor people of the country could not afford to keep it. Christian, you refernce 45% of German coinage not having been returned. My point is that in Africa, where people can't "afford" to hold on to useless money, the percentage of Africans holding on to "worthless" currency and coins has got to be way, way lower than Germany. I was there. People have to do silly things like EAT. Sorry if I come off wrong - I just don't think we can compare Europe with Sub-Saharian Africa on this issue. :) Thanks[/QUOTE]
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