What is the meaning of Mickey Mouse money?

What is the meaning of Mickey Mouse money?

During the Japanese occupation, the government issued fiat money known as the Japanese government-issued Philippine fiat peso or Japanese peso. The currencies were released in surplus. These were practically worthless that the people called these “Mickey Mouse Money” (because they looked similar to play money).

What is Mickey Mouse money Philippines?

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 peso (see also Japanese invasion money). Some Filipinos called the fiat peso “Mickey Mouse money”.

What is Mickey Mouse money why was it called as such explain?

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.

Why the fiat peso is called Mickey Mouse money?

During their control of the island, the Japanese government issued new currency. 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.

What do you call the money that the Japanese imposed?

The yen (Japanese: 円, symbol: ¥; code: JPY; also abbreviated as JP¥) is the official currency of Japan. It is the third most traded currency in the foreign exchange market, after the United States dollar and the Euro.

What is currency used during the Japanese period?

In 1942 the Japanese issued paper scrip currency of 1, 5, 10 and 50 cents and 1, 5 and 10 dollars. The 1, 5 and 10-dollar notes initially had serial numbers; these were later omitted. In 1944, inflation lead to the issuing of a 100-dollar note.

What is another name for fiat money?

What is another word for fiat money?