[RastaMan]

Can someone please enlighten me? I see banknotes here from so many private banks. Very very strange. I know of only Italy that has done so several years ago, because the government functioned even worse than usual. How come the situation here???

[Mat]

Originally Posted by RastaMan

I know of only Italy that has done so several years ago, because the government functioned even worse than usual. How come the situation here???

Macau does have it too

[PDLM]

So does Scotland.

[KnowItAll]

FYI ..

http://www.info.gov.hk/hkma/eng/curr...tes_b_main.htm

[kombuchakid]

Standard Chartered $10 bills are legal tender in certain establishments for a pint and should not be squandered willy nilly on frivolous knick knacks.

[RastaMan]

Originally Posted by kombuchakid

Standard Chartered $10 bills are legal tender in certain establishments for a pint and should not be squandered willy nilly on frivolous knick knacks.

Uh?

Thanks Mr. know it all. But why does the government in HK (and Scotland, etc.) do that? Is it cheaper than if it printed the banknotes? (perhaps the banks print them cheaply because it's a form of advertisement for the banks?)? Why don't all governments in the world do that?

[KnowItAll]

I think it is because Hong Kong does not have a "Central Bank", so they've authorised banks with sufficient desposits the right to issue currency.

[aryan28]

in Hk there are 3 banks which prints bank notes... You have so many notes of same denominations.. how can one one guesss, which one is fake and which one is not????

[kombuchakid]

[quote=RastaMan;121481]Uh?

SC$10 note=1 large glass of alcoholic beverage, where so advertised.

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All notes are printed down in sunny Taipo by the NPL a Government unit.

[trondmv]

...and HK notes are among the most difficult in the world to copy. At least according to the HKMA spin.

HK doesn't have a central bank, like KIA said, so the HKMA decided to outsource it to a group of local banks. You could call it a consequence of extreme capitalism

Remember, bank notes are just paper unless the bank issuing them has assets to back them up. As far as I know, the HKMA isn't sitting on a vault full o'gold...