What is Mickey Mouse money?

During World War II in the Philippines, the occupying Japanese government issued a fiat currency in several denominations; this is known as the Japanese government-issued Philippine fiat peso (see also Japanese invasion money). Some Filipinos called the fiat peso “Mickey Mouse money”.

Why was the money used during the Japanese period called Mickey Mouse money?

The Japanese Occupation Forces issued war notes in high denominations. These war notes had no back up reserves, thus, Filipinos dubbed it “Mickey Mouse” money.

What is the currency used during the Japanese period?

Japanese invasion money, officially known as Southern Development Bank Notes (Japanese: 大東亜戦争軍票 Dai Tō-A Sensō gunpyō, “Greater East Asia War military scrip”), was currency issued by the Japanese Military Authority, as a replacement for local currency after the conquest of colonies and other states in World War II.

What is denomination in money?

Most often, a denomination is a unit of value, or numeraire, given to money or currencies like coins and notes, as well as other financial instruments that maintain set values, such as government-issued bonds. As an example, some ATMs offer $20 bills and $100 bills, while others might provide $10 and $50 notes.

When was Mickey Mouse money used?

These peso were non-affectionately named “Mickey Mouse money” by the Filipinos due to their value drastically decreased near the end of World War II. This peso was most likely issued near the end of WWII as 1000 peso notes were needed due to hyperinflation.

What is the meaning of commodity money?

Commodity money is money whose value comes from a commodity of which it is made. Examples of commodities that have been used as media of exchange include gold, silver, copper, salt, peppercorns, tea, decorated belts, shells, alcohol, cigarettes, silk, candy, nails, cocoa beans, cowries and barley.

Why is it called banana money?

They were referred to as banana money because of the banana tree motif printed on the note. The front of the note shows a banana tree, a guava tree and a coconut palm flanked by pineapple plants and more coconut palms on the left and right.

What is the meaning of banana money?

Filters. (informal) World War II Japanese invasion money. noun.