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:	post by Pires at 2008-07-22 14:19:02

"The Liberia dollar currently trades against the US dollar at a ratio of 57:1. Liberia used the US dollar as its currency from 1943 until it reversed dollarization in 1982. Its external debt ($3.5 billion) is huge in comparison to its GDP (approx $2.5 billion/year); it annually imports approximately $4.839 billion in goods while it exports only about $910 million. Inflation is falling, but still significant (dropping from 15% in 2003 to 4.9% in the 3rd quarter of 2005); interest rates are high, with the average lending rate listed by the Central Bank of Liberia at 17.6% for 3rd quarter 2005 (although the average time deposit rate was only .4%, and CD rate only 4.4%, barely keeping pace with inflation). It continues to suffer with poor economic performance due to a fragile security situation, the devastation wrought by its long war, its lack of infrastructure, and necessary human capital to help the country recover from the scourges of conflict and corruption."

In other words, the Liberian dollar is worth so little and they are so far in debt that they are willing to do just about anything, including selling out to "collector scams" making these "tinfoil" items worth about... $0.35 give or take a 10th of a cent. The "certificate of authenticity" is what really gives me a chuckle, like a certificate of authenticity on bag of garbage would make it somehow worth something more than just trash.

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