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Are They Bracing Us for Hyperinflation? Major-Major Changes in PH Paper Money

January 6, 2011
New Pinoy paper money... More money means inflation!

New Pinoy paper money... More money means inflation!

This is all I can say: I’m not happy with the newly printed paper money. And they printed 100,000-peso bills… Does this mean we’re ready for inflation or even hyperinflation? What’s the value-based basis of these tons and tons of newly-printed money?

Now here’s the new look of our fiat currency… Yes, what we have is fiat currency. Money should be either gold or backed by gold! The Philippines should insist on gold standard. However, I know this is just a wishful thinking considering the mentality of our politicians and those who call the shots at the Bangko Sentral.

This bill is larger than the usual size at 355.6 mm and 215.9 mm. The gold-coloured 100,000 peso bill was created for the 1898 – 1998 centennial and the Philippine Centennial logo can be seen on both side of the bill. Only 1,000 bills were created and each bill contains 21 security codes to prevent counterfeiting.

Front: Cry of Pugadlawin led by Andres Bonifacio, marking the beginning of he revolution for independence against Spain.

Reverse: The same as the reverse side of the older five peso bill. From the balcony of his house, General Emilio Aguinaldo displays the Philippine flag to the crowd below and proclaims independence from Spain.

Front: Portrait of Manuel L. Quezon, Declaration of Filipino as a National Langguage, Malacañang Palace, Seal of the President, and the New BSP seal.

Reverse: Banaue Rice Terraces, Animal: Palm Civet

Front: Portrait of President Sergio Osmeña, First National Assembly 1907, Leyte Landing, Seal of the President, and the New BSP seal.

Reverse: Taal Lake, Animal: Maliputo

Front: Portrait of President Manuel Roxas, old BSP building 1949, Inauguration of the Third Philippine Republic July 4, 1946, Seal of the President, and the New BSP seal.

Reverse: Mayon Volcano, Animal: Whale Shark (butanding)

Front: Portrait of President Diosdado Macapagal, EDSA People Power II, Independence House (Aguinaldo Shrine), Barasoain Church, Seal of the President, and the New BSP seal.

Reverse: Chocolate Hills in Bohol, Animal: Tarsier

Front: Icons of Democracy: President Corazon Aquino and Senator Benigno Aquino Jr., EDSA People Power 1, Benigno Aquino monument in Makati, Seal of the President, and the New BSP seal.

Reverse: Subterranean Underground River in Puerto Princesa in Palawan, Animal: Blue-naped Parrot

Front: Portraits of Josefa LLanes Escoda, Vicente Lim, and JOse Abad Santos, Centennial celebration of Philippine independence, Medal of Honor, Seal of the President, and the New BSP seal.

Reverse: Tubbataha Reefs in Sulu, South Sea Pearl.

The bill is larger than the usual size at 216 mm by 133 mm.

This blue, yellow and purple bill was created for the 1898 – 1998 centennial.

Front: President Joseph Estrada is seen taking his oath of office at the historical Barasoain Church.

Reverse: President Fidel Ramos waves the Philippine flag from the same balcony where General Emilio Aguinaldo first displayed the original Philippine flag. The Philippine Centennial logo is also visible.

Is money the root of all evil? Here’s Francisco D’Anconia’s great money speech:

“SO you think that money is the root of all evil?” said Francisco d’Anconia. “Have you ever asked what is the root of money? Money is a tool of exchange, which can’t exist unless there are goods produced and men able to produce them. Money is the material shape of the principle that men who wish to deal with one another must deal by trade and give value for value. Money is not the tool of the moochers, who claim your product by tears, or of the looters, who take it from you by force. Money is made possible only by the men who produce. Is this what you consider evil?

“When you accept money in payment for your effort, you do so only on the conviction that you will exchange it for the product of the effort of others. It is not the moochers or the looters who give value to money. Not an ocean of tears not all the guns in the world can transform those pieces of paper in your wallet into the bread you will need to survive tomorrow. Those pieces of paper, which should have been gold, are a token of honor–your claim upon the energy of the men who produce. Your wallet is your statement of hope that somewhere in the world around you there are men who will not default on that moral principle which is the root of money, Is this what you consider evil?

“Have you ever looked for the root of production? Take a look at an electric generator and dare tell yourself that it was created by the muscular effort of unthinking brutes. Try to grow a seed of wheat without the knowledge left to you by men who had to discover it for the first time. Try to obtain your food by means of nothing but physical motions–and you’ll learn that man’s mind is the root of all the goods produced and of all the wealth that has ever existed on earth.

“But you say that money is made by the strong at the expense of the weak? What strength do you mean? It is not the strength of guns or muscles. Wealth is the product of man’s capacity to think. Then is money made by the man who invents a motor at the expense of those who did not invent it? Is money made by the intelligent at the expense of the fools? By the able at the expense of the incompetent? By the ambitious at the expense of the lazy? Money is made–before it can be looted or mooched–made by the effort of every honest man, each to the extent of his ability. An honest man is one who knows that he can’t consume more than he has produced.’

“To trade by means of money is the code of the men of good will. Money rests on the axiom that every man is the owner of his mind and his effort. Money allows no power to prescribe the value of your effort except the voluntary choice of the man who is willing to trade you his effort in return. Money permits you to obtain for your goods and your labor that which they are worth to the men who buy them, but no more. Money permits no deals except those to mutual benefit by the unforced judgment of the traders. Money demands of you the recognition that men must work for their own benefit, not for their own injury, for their gain, not their loss–the recognition that they are not beasts of burden, born to carry the weight of your misery–that you must offer them values, not wounds–that the common bond among men is not the exchange of suffering, but the exchange of goods. Money demands that you sell, not your weakness to men’s stupidity, but your talent to their reason; it demands that you buy, not the shoddiest they offer, but the best that your money can find. And when men live by trade–with reason, not force, as their final arbiter–it is the best product that wins, the best performance, the man of best judgment and highest ability–and the degree of a man’s productiveness is the degree of his reward. This is the code of existence whose tool and symbol is money. Is this what you consider evil?”

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2 Comments leave one →
  1. January 14, 2011 3:38

    Oh no.. what will happen to us if this hyperinflation take place. One peso is no longer of used. 25 cents are nothing now.

  2. January 20, 2011 3:38

    Sir, do you think it is ok to say – at least the Philippine money is not loaned to the gov’t at interest by private international bankers like the feds do (not to mention printed out of thin air)? According to bsp’s website “BSP’s notes and coins are issued against, and in amounts not exceeding, the assets of the BSP” what do you think of this?

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